Cayman Corp. incurred $140,000 of basic research and $35,000 of development costs to develop a product for which a patent was granted on January 2, 2015. Legal fees and other costs associated with registration of the patent totalled $50,000. On March 31, 2020, Cayman paid $75,000 for legal fees in a successful defence of the patent. The total amount capitalized for the patent through March 31, 2020 should be

$300,000.

$265,000.

$160,000.

$125,000