Regarding the tax treatment of a business’s research and experimental (R&E) expenditures, which of the following statements is true?

a. A common reason for electing tax deferral for such expenses is the expectation of lower tax rates in the future.

b. Expenses associated with the acquisition of land upon which a purpose-built R&E facility is constructed are considered R&E expenditures for tax purposes.

c. Companies generally prefer to expense R&E costs immediately, but may elect instead to defer and amortize such costs over a minimum of 60 months.

d. Companies may elect to immediately expense R&E costs incurred in the first applicable taxable year and all future years through an appropriate filing with the IRS.