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A company incurs the following expenditure: $86,000 in attempting to convert seaweed into a cure for muscular injuries; $192,000 developing a painkiller whose commercial production commenced on 1 April 20X1; the painkiller is expected to be a market leader for ten years. What is the carrying amount of development expenditure in the statement of financial position as at year end 31 July 20X1? A $185,600. B $278,000. C $271,600. D $192,000. |