Maltese Laboratories incurred the following research and developments costs related to its pharmaceutical business:
Internal projects (salaries, supplies, overhead for R&D facilities) ......................$620,000
Payment to acquire R&D from a third party related to a specific project .................75,000
Costs of an R&D project to be sold under contract to Libo Pharmacy, a third party ...82,000
In-process R&D associated with the acquisition of Curatics, an independent
research company. .............................................................................148,000
What amount should Maltese report as research and development expense in its income statement?