Pharoah Industries Ltd. is a company in the high-technology industry. Pharoah has been working on developing a new product for home entertainment, the holographic movie projector. The projector meets all of the six criteria required in order to capitalize development costs. During 2020, Pharoah incurred the following costs related to research and development:

Rent of facility		$160,000
Salaries of research staff		330,000
Legal costs to obtain new patent for projector		48,000
Legal costs of successfully defending new patent in court		33,000
Materials consumed in manufacture of prototypes		13,800
Consulting fees paid for general research		46,000
Indirect costs related to research and development		9,400

What is the amount that Pharoah would be allowed to capitalize as an intangible asset for 2020, assuming that Pharoah follows IFRS.