Consider the following information from a company's records for 2020: Materials used in research and development projects $4,500 Equipment acquired that will have alternative future uses in future R\&D projects for five years 1,500 Personnel costs of employees involved in R\&D projects 5,500 Consulting fees paid to outsiders for R\&D projects 2,800 Indirect costs reasonably allocable to R&D projects 260 Legal fees associated with registration of a patent resulting from a 2020R&D project 2,400 Required: a. Compute the amount of R&D costs that should be classified as expenses in determining 2020 net income. b. For any listed item not included in your answer to requirement 1, provide the rationale for not expensing it