GHI Co. incurred research and development costs in 2015 as follows:

Materials used in research and development projects $ 650,000

Equipment acquired that will have alternate future uses in future research

and development projects 3,000,000

Depreciation for 2015 on above equipment 500,000

Personnel costs of persons involved in research and development projects 750,000

Consulting fees paid to outsiders for research and development projects 300,000

Indirect costs reasonably allocable to research and development projects 225,000

$5,425,000

The amount of research and development costs charged to GHI's 2015 income statement should be?