On March 17, Advanced Technologies developed a patent related to laser surgery techniques. They spent $1,300,000 to develop the patent internally, consisting of personnel ($850,000), equipment ($330,000), and materials ($120,000). The company also had the following additional costs: $30,000 in legal fees associated with the purchase and filing of the patent, $45,000 to advertise its new laser surgery techniques, and $55,000 to train employees.
What is the recorded cost of the patent?
Total capitalized cost