Thomas More Company incurred the following costs during the current year in connection with its research and development activities.

Cost of equipment acquired that will have alternative
uses in future R&D projects over the next 5 years
(uses straight-line depreciation)		$356,300
Materials consumed in R&D projects		59,220
Consulting fees paid to outsiders for R&D projects		117,600
Personnel costs of persons involved in R&D projects		139,200
Indirect costs reasonably allocable to R&D projects		45,540
Materials purchased for future R&D projects		36,410

Compute the amount to be reported as research and development expense by More on its current year income statement. Assume equipment is purchased at the beginning of the year.

Total to be expensed in 2014 for research and Development

$