Rita Skeeter Company incurred the following costs related to research and development (R&D) for the current year: R&D salaries R&D supplies consumed Equipment used in R&D projects Payment for services to others for R&D projects Purchase of in-process R&D in a business acquisition $128,000 248,000 608,000 168,000 88,000 The equipment will be used in other projects. Depreciation in the current year is $78,000. For what amount should Rita Skeeter report research and development expense