The Askew Company made the following cash expenditures during 2021 related to the development of a new industrial plastic:

R&D salaries and wages: $10,000,000

R&D supplies consumed during 2021: $4,000,000

Purchase of R&D equipment: $4,000,000

Patent filing and legal costs: $100,000

The project resulted in a new product to be manufactured in 2022. A patent was filed with the U.S. Patent Office. Amortization of the patent's filing and legal costs will begin in 2022. The equipment purchased will be employed in other projects. Depreciation on the equipment for 2021 was $500,000.

How much R&D expenses should the company record in 2021?

$14,500,000

$14,000,000

$18,000,000

$14,600,000