Maltese Laboratories incurred the following research and developments costs related to its pharmaceutical business: Internal projects (salaries, supplies, overhead for R&D facilities) $645,000 Payment to acquire R&D from a third party 77,500 related to a specific project Costs of an R&D project to be sold under contract to Libo Pharmacy, a third party 84,500 In-process R&D associated with the acquisition of Curatics, an independent research company. 153,000 What amount should Maltese report as research and development expense in its income statement? Research and development expense