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8 . CPA - 08578 The following information relates to two projects performed by Miley Co . during the year for laboratory esearch aimed at

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8 . CPA - 08578 The following information relates to two projects performed by Miley Co . during the year for laboratory esearch aimed at discovering new knowledge Likelihood That Effort Will Project Costs Result in Future Benefits $100 000 Probable $50.000 Reasonably possible What should Miley report as research and development expenses in its income statement for the year ? SO $50 000 $100 000 $150.000

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