Exercise $10-27($Algo$)$ Research and development $[$L$010-8]$

Delaware Company incurred the following research and development costs during $2024$:

The equipment has a eight$-$year life and will be used for a number of research projects. Depreciation for $2024$ is $$190,000.$

Required:

Calculate the amount of research and development expense that Delaware should report in its $2024$ income statement.

Answer is complete but not entirely correct.