AstroTech Semiconductor incurred the following costs in 2018 related to a new product design:

Research for new semiconductor design	$	2,820,000
Development of the new product		816,000
Legal and filing fees for a patent for the new design		106,000
Total	$	3,742,000

The development costs were incurred after technological and commercial feasibility was established and after the future economic benefits were deemed probable. The project was successfully completed, and the new product was patented before the end of the 2018 fiscal year.

Problem 10-145 Part b

Required: Calculate the amount of research and development expense AstroTech should report in its financial statements according to International Financial Reporting Standards (IFRS).