Maxtor Technology incurred the following costs during the year related to the creation of a new type of personal computer monitor: Salaries Depreciation on R&D facilities and equipment Utilities and other direct costs incurred for the R&D facilities Patent filing and related legal costs Payment to another company for performing a portion of the development work Costs of adapting the new monitor for the specific needs of a customer $400,000 215,000 84,000 40,000 210,000 98,000 What amount should Maxtor report as research and development expense in its income statement? Research and development expense