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Calculate the amount of research and development expense

Delaware Company incurred the following research and development costs during 2011:

The equipment has a seven-year life and will be used for a number of research projects. Depreciation for 2011 is $120,000.

Required:

Calculate the amount of research and development expense that Delaware should report in its 2011 income statement.

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Accounting Basics: Calculate the amount of research and development expense

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Accounting Basics: Calculate the amount of research and development expense

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