Delaware Company incurred the following research and development costs during 2021 E 10-27 Research and development LO10-8 Salaries and wages for lab research Materials used in R&D projects Purchase of equipment Fees paid to third parties for R&D projects Patent filing and legal costs for a developed product Salaries, wages, and supplies for R&D work performed for another company under a contract Total $ 400,000 200,000 900.000 320,000 65,000 350.000 $2.235,000 The equipment has a seven-year life and will be used for a number of research projects. Depreciation for 2021 is $120,000 Required: Calculate the amount of research and development expense that Delaware should report in its 2021 income statement