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Diaz Company incurred the following costs during the year 2020.
| 1. | Salaries expense related to design for a trademark with an indefinite estimated life | $12,000 |
| 2. | Materials used for research and development projects for the current year | 20,000 |
| 3. | Fees paid to external consultants related to research and development projects | 60,000 |
| 4. | Trouble-shooting in connection with breakdowns during production | 36,000 |
| 5. | Design of tooling involving new technology | 18,000 |
| 6. | Cost of equipment (purchased January 2019) that will have alternative uses over 6 years | 160,000 |
| 7. | Salaries expense related to updates to an existing product | 80,000 |
| 8. | Allocation of rent expense for a facility partially used for research and development activities | 30,000 |
| 9. | Routine testing of product during commercial production | 56,000 |
Determine the amount of research and development costs that would be disclosed in the financial statements of Diaz company for the year 2020.
Note: Round your answer to the nearest whole dollar.
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