Rooney Company incurred $560000 of research and development cost in its laboratory to develop a patent granted on January 1 2017. On July 31 2017 Rooney paid $84000 for legal fees in a successful defense of the patent. The total amount debited to Patents through July 31 2017 should be:

A) $560000.
B) $84000.
C) $644000.
D) $476000.

Research And Development

Activities undertaken by companies to innovate and introduce new products or processes, often involving substantial investment in technology and human resources.

Patent

A Patent is an exclusive right granted to an inventor to make, use, or sell an invention for a certain number of years, protecting it from unauthorized use or replication.

Legal Fees

Charges billed by attorneys or law firms for legal services rendered.