George owns and operates several boutiques in town. He wants to expand his business to other cities, so he incurs $23,000 on investigation costs travelling to different cities and paid $30,000 for market studies in these cities to determine the feasibility of opening boutiques. If George decides to open a new boutique in another city, how much of the investigation and market study costs can George deduct in the current year, if he opens the new store on November 1?

Answer rating: 100% (QA)

George incurred 23000 in investigation costs and 30000 in market study costs for a total of 23000 ... View the full answer