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The equipment be used in other projects. Depreciation in the current year is $70,000. For...

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Accounting

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The equipment be used in other projects. Depreciation in the current year is $70,000. For what amount should the company report research and development expense?

options:

1)

$430,000.

2)

$590,000.

3)

$670,000.

4)

$1,200,000.
Fox Co. incurred the following costs related to research & development for the current year: R&D salaries $120,000 R&D supplies consumed $240,000 Equipment used in R&D projects $600,000 Payment for services to others for R&D project $160,000 Purchase of in-process R&D in a business acquisition $80,000

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