Strum Co. incurred the following research and development project costs during the current year Equipment purchased for current and $ future projects Equipment purchased for current project only Research and development salaries for current projects 100,000 200,000 400,000 50,000 600,000 Legal fees to obtain patent Material and labor costs for prototype product Strum estimate a five-year useful life for all equipment purchases and uses the straight-line method of depreciation. The company assumes an acquisition date of January 1 for all purchases. What amount should Strum recognize as research and development expense for the year under U.S. GAAP? (Do not include commas in your answer) Answer: Check