Beech Corporation, an accrual$-$basis, calendar$-$year taxpayer, was organized and began business in June of the current calendar tax year. During the current year, the corporation incurred the following expenses:

Line Item Description Amount

State fees for incorporation $ $910$

Legal and accounting fees incident to organization $3,185$

Expenses for the sale of stock $3,640$

Organizational meeting expenses $3,868$

Round per month calculation to two decimal places. Round your final answer to the nearest dollar.

Assuming that Beech Corporation wishes to deduct organizational expenses as quickly as possible, calculate the corporation$$s deduction for its current calendar tax year.

Answer rating: 100% (QA)

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