Muharraq Co. paid the following different costs in 2020: 1. $2,000,000 to acquire a machine to be used in the R&D projects. The machine has a 4-year useful life (Muharraq Co. started sing the machine on Jary 2016 method is applied) 2. $550,000 for construction costs incurred to open a new plant. 3. $420,000 for engineering costs incurred to advance a new product to full production stage (There is NO economic viability) 4. $250,000 for material and equipment used in research and development project. 5. $130,000 for advertising expenses to the new products. 6. $370,000 for consultation services provided by Manama Co. during the research process. Required: How much Muharraq Co. should record as Research & Development expense in 2020? (Show your calculations)