Mayer Biotechnical, Incorporated, develops, manufactures, and sells pharmaceuticals. Significant research and development $($R&D$)$ expenditures are made for the development of new drugs and the improvement of existing drugs. During $2024,$ $$220$ million was spent on R&D$.$ Of this amount, $$30$ million was spent on the purchase of equipment to be used in a research project involving the development of a new antibiotic. The equipment likely will be used on only this one project.

The company president has asked the controller to make every effort to increase $2024$ earnings because in $2025$ the company will be seeking significant new financing from both debt and equity sources. "I guess we might use the equipment in other projects later," the controller wondered.

Required:

Assuming that the equipment was purchased at the beginning of $2024,$ how much should the controller record for research and development expense in $2024?$

Note: Enter your answer in millions and not in dollars.

What amount would be reported for research and development expense in $2024$ under the controller's alternative assumption that the equipment will be used for other projects evenly over five years?

Note: Enter your answer in millions and not in dollars.

Does the need for financing justify the controller making the alternative assumption in requirement $2?$

$\backslash$table$[[1.2024$ Reseanh & Development expense related to the equipment$],[2.$ Research and development expense in $2024$ under the controller's alternative assumption.$],[3.$ Does the need for financing justify the controller making the alternative assumption in requirement $2?]]$