Maxtor Technology incurred the following costs during the year related to the creation of a new type of personal computer monitor:

$\backslash$table$[[$Salaries$,],[$Depreciation on R&D facilities and equipment,$300,000],[$Utilities and other direct costs incurred for the R&D facilities,$165,000],[$Patent filing and related legal costs,$74,000],[$Payment to another company for performing a portion of the development work,$30,000],[$Costs of adapting the new monitor for the specific needs of a customer,$160,000],[,88,000]]$

What amount should Maxtor report as research and development expense in its income statement?

Research and development expense