In 2020, Peterson Corporation incurred research costs as follows: Materials and supplies $60,000 Personnel 65,000 Indirect costsallocated
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In 2020, Peterson Corporation incurred research costs as follows:
Materials and supplies | $60,000 | |
Personnel | 65,000 | |
Indirect costs—allocated | 80,000 | |
$205,000 |
These costs relate to a product that Peterson expects to market in 2021. It is estimated that these costs will be recouped by December 31, 2023. How much of these costs could be capitalized in 2020?
$205,000 |
$125,000 |
$80,000 |
$0 |
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