Blossom Inc. is developing a new process that it plans to sell. During 2022 and 2023 , the company capitalized $1.05 million and $0.23 million respectively. An additional $0.40 million was spent in 2024. During 2024 , it became apparent that, due to a lack of financial resources, the company would NOT be able to complete the project. The total amount of capitalized costs relating to this project at the end of 2024 is $0.17 million. $1.28 million. nil. $1.68 million. Blossom Inc. is developing a new process that it plans to sell. During 2022 and 2023 , the company capitalized $1.05 million and $0.23 million respectively. An additional $0.40 million was spent in 2024. During 2024 , it became apparent that, due to a lack of financial resources, the company would NOT be able to complete the project. The total amount of capitalized costs relating to this project at the end of 2024 is $0.17 million. $1.28 million. nil. $1.68 million