Question $4$ Carey Pharmaceuticals Ltd$,$ is involved in research and development activities to produce a new drug. The following expenditures have been incurred during this process: $1.$ Initial research to understand the biological pathways relevant to the target disease. Amount $-$ $$50,0002.$ Conducting early$-$stage laboratory experiments to identify potential drug compounds. Amount $-$ $$30,0003.$ Clinical trials to test the efficacy and safety of the selected drug compound. Amount $-$ $$120,0004.$ Developing and testing the final drug formulation, to be branded as Medicure. Amount $-$ $$200,000$While the actual sales of Medicure will not be known until its market launch in late $2024,$ the drug has shown promising results in clinical trials and has received positive feedback from medical professionals. It is anticipated to have a significant market potential, likely generating millions of dollars in revenue. Required:$(1)$ Determine whether the above expenditures related to EACH activity should be considered as research or development and whether it should be expensed as incurred in accordance with AASB $138$ Intangible Assets.$(2)$ Calculate the total amount that would qualify to be recorded as an intangible asset and discuss whether it is subject to amortisation charges.