Sheridan Co. incurred research and development costs in 2021 as follows:

Materials used in research and development projects	$ 915000
Equipment acquired that will have alternate future uses in future research
and development projects	2650000
Depreciation for 2021 on above equipment	441666
Personnel costs of persons involved in research and development projects	715000
Consulting fees paid to outsiders for research and development projects	265000
Indirect costs reasonably allocable to research and development projects	190000
	$5176666

The amount of research and development costs charged to Sheridan's 2021 income statement should be

a. $2526666.

b. $1895000.

c. $4545000.

d. $2071666.