Holly Company incurred research and development costs in Year 1 as follows: (Click the icon to view the research and development costs.) The total research and development expense in Holly's Year 1 income statement under U.S. GAAP should be O A. $930,000 O B. 5870,000 O C. $530,000 OD. $470,000 X - Data table Equipment acquired for use in various R&D projects Depreciation on the above equipment Materials used Compensation costs of personnel Fees to outside consulting firms Indirect costs appropriately allocated $400,000 60.000 100.000 200.000 70.000 100.000 Print Done