Question 28 3 pts The King Enterprises had the following transactions occur during the year. Purchased testing equipment on July 1st that will be used for one R&D project for $148,800. The equipment has a two-year life and has no salvage value. Purchased testing equipment that will be used for multiple R&D projects for $360,000 on January 1st. The equipment has a five-year life and a salvage value of 10,000. Paid $480,000 in salaries for scientists working in R&D. Purchased $112,800 in materials to develop a prototype for a new solar panel. The company obtained a patent on December 31 for the new design. The patent application fee was $19,200. If The King normally depreciates any capitalized equipment using straight-line method. How much R&D expense does the company recognize for the year? O 811,600 O 608,000 O 827,600 O 737,200 O 700,000