In 2022, Tempe Corporation acquires a new research facility and hires several scientists to develop new products. Tempe incurs the following expenditures in 2022:
Laboratory materials............................................................................................................................................................$ 40,000
Research salaries.....................................................................................................................................................................80,000
Overhead attributable to the research facility....................................................................................................................30,000
R &E equipment placed into service (5-year MACRS recovery period and half-year convention).............................100,000
What are Tempe’s 2022 and 2023 deductions for research and experimental (R&E) expenditures?