Coronado Industries Ltd. is a company in the high-technology industry. Coronado has been working on developing a new product for home entertainment, the holographic movie projector. The projector meets all of the six criteria required in order to capitalize development costs. During 2020, Coronado incurred the following costs related to research and development:

Rent of facility		$160,000
Salaries of research staff		220,000
Legal costs to obtain new patent for projector		51,000
Legal costs of successfully defending new patent in court		39,000
Materials consumed in manufacture of prototypes		12,400
Consulting fees paid for general research		45,400
Indirect costs related to research and development		9,300

Calculate the amount that Coronado would be allowed to capitalize as an intangible asset for 2020, assuming that Coronado follows IFRS.

Amount capitalized