31 Raida Co. incurred the following costs during 2021: Significant modification to the fomulation of a chemical product $160,000 Trouble-shooting in connection with breakdowns during commercial production 150,000 Cost of exploration of new fomulas 200,000 Seasonal or other periodic design changes to existing products 185,000 Laboratory research aimed at discovery of new technology 355,000 In its income statement for the year ended December 31, 2021, Raida should report research and development expense of