C) Multiple Choices (15 points) Fill-in your answers in the table on the first page. 1. Hall Co. incurred research and development costs during 2020 as follows: Materials consumed in R&D projects. Equipment acquired that will have alternate future uses in future research and development projects over the next 12 years. Personnel costs of persons involved in research and development projects $450,000 3,000,000 750,000 Consulting fees paid to outsiders for research and development projects 300,000 Indirect costs reasonably allocable to research and development projects Materials purchased for future R&D projects 225,000 500,000 The amount of research and development costs charged to Hall's 2020 income statement should be a. $1,500,000. b. $1,975,000. c. $2,025,000. d. $2,525,000.