Cody Corp. incurred the following costs during year 4: Design of tools, jigs, molds, and dies involving
new technology $125,000
Modification of the formulation of a process 160,000
Troubleshooting in connection with breakdowns during commercial production 100,000
Adaptation of an existing capability to a particular customers need as part of a continuing commercial activity 110,000
In its year 4 income statement, Cody should report research and development expense of