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During2014Dylan Co.incurred$880,000of research and development costs to develop a product for which a patent was granted on October1,2014.The patent is expected to have a useful

During2014Dylan Co.incurred$880,000of research and development costs to develop a product for which a patent was granted on October1,2014.The patent is expected to have a useful life of8years from the date it was obtained.Dylan Co.also paid$240,000for legal fees to obtain the patent.What is the amount of research and development expense for 2014?

A.$240,000

B.$1,120,000

C.$640,000

D.$880,000

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