Amco Co carries out research and development. In the year ended 30 June 20X5, Amco incurred costs in relation to project X of $750,000. These were incurred at the same amount each month up to 30 April 20X5, when the project was completed. The product produced by the project went on sale from 31 May 20X5 The project had been confirmed as feasible on 1 January 20X5, and the product produced by the project was expected to have a useful life of five years. What is the carrying amount of the development expenditure asset as at 30 June 20X5?

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