The following costs were incurred by Mark Corporation during 2020 : - Legal fees paid to attorneys in connection with a patent application related to a new invention developed by the company's laboratory personnel: $40,000. - Salaries of personnel involved in searching for applications of new research findings: $150,000. - Cost of machinery acquired on January 1, 2020: $355,000. The machinery will be used in a current research and development project, as well as several other R\&D projects over the next eight years, after which the machine is expected to be sold for $15,000. Mark Corporation uses straight-line depreciation. - Costs of design, construction, and testing of preproduction prototypes of potential new product lines for the company: $70,000. - Cost of developing a valuable new product that was successfully patented: $100,000. - Cost of marketing research to promote the new product: $60,000. Required: Calculate the total research and development expense that should appear in Mark's 2020 income statement. $X