Nalking on Air Ltd is developing a new form of individual transport that will act like a personal hovercraft. Costs for t year ending 30 June 2018 are as follows: Research Expenditure $950000 Development Costs $650000 Due to the high individual cost of items, sales of this prototype model are anticipated to be small and generate $100 ol per year over the next four years. Following that time, a new and cheaper consumer model will be under productii based on the research developed for the prototype. It will however, require additional development expenditure. How much of the research and development costs should be amortised in the year ending 30 June 2018 and what is the Required Nalking on Air Ltd is developing a new form of individual transport that will act like a personal hovercraft. Costs for t year ending 30 June 2018 are as follows: Research Expenditure $950000 Development Costs $650000 Due to the high individual cost of items, sales of this prototype model are anticipated to be small and generate $100 ol per year over the next four years. Following that time, a new and cheaper consumer model will be under productii based on the research developed for the prototype. It will however, require additional development expenditure. How much of the research and development costs should be amortised in the year ending 30 June 2018 and what is the Required