Question: Hi-Tech Corp. spent $300,000 on research and development to generate new product lines. Only one of the five product lines resulted in a patented item,

Hi-Tech Corp. spent $300,000 on research and development to generate new product lines. Only one of the five product lines resulted in a patented item, while the remaining four were considered unsuccessful. Under U.S. GAAP, how much of the $300,000 should be recognized as an expense?
a. $300,000
b. $240,000
c. $60,000
d. $0

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