4.5 points Muharraq Co. paid the following different costs in 2020: 1. $1,200,000 to acquire a machine to be used in the R&D projects. The machine has a 6-year useful lide (Maharraq Co. started using the machine on 1 January 2020 and a straight-line depreciation method is applied). 2. $750,000 for construction costs incurred to open a new plant 3. $230,000 for salaries expenses to the workers who investigate a new formula 4. $310,000 for material and equipment used in research and development project 5. $270,000 for advertising expenses to the new products. 6. $190,000 for consultation services provided by Manama Co, during the research process Required: How much Muharraq Co. should record as Research & Development expense in 2020? (Show your calculations)