poms Muharraq Co. paid the following different costs in 2020: 1. $1.200,000 to acquire a machine to be used in the R&D projects. The machine has a 6-year useful life (Muharraq Co. started using the machine on 1 January 2020 and a straight-line depreciation method is applied). 2. $750,000 for construction costs incurred to open a new plant. 3. $230,000 for salaries expenses to the workers who investigate a new formula. 4.50,000 for material and equipment used in researdh and development project. 5. $270,000 for advertising expenses to the new products 6. $190,000 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 10pt I 60