Royal Company purchased a trademark and incurred the following costs:

Purchase price 1,000,000

Nonrefundable VAT taxes 50,000

Training of personnel on the use of the new trademark 70,000

Research expenditures associated with the purchase of the new trademark

240,000

Legal costs incurred to register the trademark

105,000

Salaries of the administrative

120,000

What is the initial cost of the trademark?

A. 1,000,000

B. 1,155,000

C. 1,465,000

D. 1,585,000