A company incurred the follow costs related to research and development for the current year Technology development (salaries and supplies) Engineering work performed by another company Purchase of equipment Testing new models Legal fees for patent application $342,000 172,000 772,000 82,000 52,000 The equipment will be used in other projects. Depreciation in the current year is $112,000. For what amount should the company report research and development expense? Multiple Choice $548,000. $708,000. $760,000. $558,000. E