Lopez Corp.incurred $420,000 of research costs to develop a product for which a patent was granted on January 2, 2006.Legal fees and other costs associated with registration of the patent totaled $80,000.On March 31, 2011, Lopez paid $150,000 for legal fees in a successful defense of the patent.The total amount capitalized for the patent through March 31, 2011 should be

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The Answer of Lopez Corp.incurred $420,000 of research costs to develop a product for which a patent was granted on January 2, 2006.Legal fees and other costs associated with registration of the patent totaled $80,000.On March 31, 2011, Lopez paid $150,000 for legal fees in a successful defense of the patent.The total amount capitalized for the patent through March 31, 2011 should be