Last year, Green Corporation incurred the following expenditures in the development of a new plant process:Salaries-$250,000; Materials $90,000;Utilities $20,000; Quality control testing costs $40,000; Management study costs $5,000; Depreciation of equipment $18,000. During the current year, benefits from the project began being realized in May. If Green Corporation elects a 60 month deferral and amortization period, determine the amount of the deduction for the current year.