Question 6I'm confused by this

Saved Help Save & Exit Subm 6 AstroTech Semiconductor incurred the following costs in 2021 related to a new product design: Research for new semiconductor design $2, 520,000 Development of the new product 786,000 Legal and filing fees for a patent for the new design 103,000 4 Total $3, 409, 000 points 8 01:42:20 The development costs were incurred after technological and commercial feasibility was established and after the future economic benefits were deemed probable. The project was successfully completed, and the new product was patented before the end of the 2021 fiscal year. Required: 1. Calculate the amount of research and development expense (R&D) AstroTech should report in its 2021 U.S. GAAP income statement related to this project. 2. Repeat Requirement 1 assuming that AstroTech prepares its financial statements according to International Financial Reporting Standards (IFRS). 1. Research and development expense under U.S. GAAP 2. Research and development expense under IFRS Mc