Muharraq Co. paid the following different costs in 2020: 4.5 points 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 using the machine on 1 January 2020 and a raight line depreciation 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) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) BIVS Paragraph Arial v 10pt Av 20 LXO