Carla Vista Company incurred the following costs during the current year in connection with its research and development activities.

Cost of equipment acquired that will have alternative
uses in future R&D projects over the next 5 years
(uses straight-line depreciation)		$284,500
Materials consumed in R&D projects		55,800
Consulting fees paid to outsiders for R&D projects		118,000
Personnel costs of persons involved in R&D projects		137,000
Indirect costs reasonably allocable to R&D projects		45,800
Materials purchased for future R&D projects		32,800

Compute the amount to be reported as research and development expense by Carla Vista on its current year income statement. Assume equipment is purchased at the beginning of the year.

Total to be expensed for research and Development?