During the year,Green,Inc.,incurs the following research expenditures: Green's qualifying research expenditures for the year are:

Question

During the year,Green,Inc.,incurs the following research expenditures:  Green's qualifying research expenditures for the year are:

Quizplus · Accepted Answer

Qualifying research expenditures are the sum of wages, supplies, and contract research expenses that meet certain criteria. In this case, Green, Inc. incurs the following expenses:
- Wages: $50,000
- Supplies: $20,000
- Contract research: $10,500

To be considered qualifying research expenditures, these expenses must meet the criteria set forth in the tax code, specifically related to research and development activities that seek to create new or improved products or processes. Based on the information provided, these expenses are likely to meet that criteria, so the sum of qualifying research expenditures is:

$50,000 + $20,000 + $10,500 = $79,500

Therefore, the best choice is C, $79,500.

During the Year,Green,Inc