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MD. Incurred the following costs during 2019 in connection with its research and development activities...

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Accounting

MD. Incurred the following costs during 2019 in connection with its research and development activities : Cost of equipment acquired that will have alternative uses in future R&D Projects over the next 5 years (uses straight line method)= 3300.000 Material consumed in R&D projects = 590.000 Consulting fees paid to outsiders for R&D projects = 1000.000 Personal cost of persons involved in R&D projects = 1280.000 Indirect costs reasonably allocable to R&D projects = 500.000 Materials purchased for future R&D projects = 340.000

Compute the amount to be reported as research and development expense by Martinez on its income statement for 2019. Assume equipment is purchased at the beginning of the year and economic viability has not been achieved.

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