Consider the following events for Carla Vista's Innovations Co$.$ that occurred during $2024$

For each event, indicate the amount of expense that should be recognized in the $2024$ income statement. $($Hint: Use professional Judgement to estimate expense where appropriate$)($Do not leave any answer held blank. Enter for amounts$)$

$1$ Leased factory space from Whole Properties Company for a one$-$year period starting November $1\mathrm{.}2024.$ Six months of rent at $$3\mathrm{.}090$ per month was paid in advance.

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$2$ Incurred $$36,400$ of research costs for new products. No new products were developed but management believes the research will lead to new products.

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$3.$ Used power and water during December for manufacturing Carta Vistar's will receive the bill In January $2025$ and pay it in February $2025.$ Power and water costs totalling $557,200$ have been recorded for the period from January $1$ to November $30\mathrm{.}2024.$

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$4.$New packaging equipment costing $$49,440$ was installed during November $2024$ The equipment was tested in December and will be used for packaging starting in Janua$2025$ The equipment has an estimated useful life of $4$ years and an estimated residual value of $54\mathrm{.}120.$ The company uses straight line depreciation.

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