The Walters Company made the following expenditures for research and development early in 2010: $40, 000 for materials, $50, 000 for contract services, $40, 000 for employee salaries, and $400, 000 for a building with an expected life of 20 years to be used for current and future research projects.Walters uses straight-line depreciation.The company allocated $10, 000 in overhead to research and development.What is Walters' research and development expense for 2010?
A) $100, 000
B) $110, 000
C) $160, 000
D) $350, 000
Correct Answer:
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