Alpha and Baker Corporations, two accrual method of accounting corporations that use the calendar year as their tax year, have filed consolidated tax returns for several years. Baker, a 100%-owned subsidiary of Alpha, is transferring a patent, equipment, and working capital to newly created Charter Corporation in exchange for 100% of its stock. In the current year, Charter will begin to produce parts for the automotive industry. Charter expects to incur organizational expenditures of $12,000 and start-up expenditures of $60,000. What tax issues should Charter consider with respect to the selection of its overall accounting method, inventory method, and tax year, the proper reporting of its organizational and start-up expenditures, and the type of income tax return to file?