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71. In 2006, Edwards Corporation incurred research and development costs as follows: Materials and equipment $ 80,000 Personnel 120,000 lndirect costs 150 000 $350,000 These

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71. In 2006, Edwards Corporation incurred research and development costs as follows: Materials and equipment $ 80,000 Personnel 120,000 lndirect costs 150 000 $350,000 These costs relate to a product that will be marketed in 2007. It is estimated that these costs will be recouped by December 31, 2009. The equipment has no alternative future use. What is the amount of research and development costs that should be expensed in 2006? a. $0. b. $200,000. c. $270,000. d. $350,000

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