On December 30, 2020, the Oxford-AstraZeneca vaccine was approved for use in the UK. On that date, the vaccine's manufacturer, AstraZeneca, progressed through the additional development procedures necessary to gain approval in the USA. Throughout 2021, management incurred the following development costs in the process to obtain the approval of the US Food and Drug Administration (FDA): Costs Amount Providing safety information for review to FDA $1,600,000 Designing vaccination containers in line with FDA's $17,000,000 requirements Cost of personnel responsible for administrating the vaccine $6,000,000 in the USA Cost to educate its sales force and perform market research $15,000,000 in the USA Based on your expertise in IAS 38: 1. Advise AstraZeneca on whether or not the development costs spent in 2021 meet the criteria for capitalization under IAS 38 2. Record the journal entries at the end of 2021