For the first taxable year in which a corporation has qualifying research and experimental expenditures, the corporation

a. Has a choice of either deducting such expenditures as current business expenses, or capitalizing these expenditures.

b. Has to treat such expenditures in the same manner as they are accounted for in the corporation’s financial statements.

c. Is required to deduct such expenditures currently as business expenses or lose the deductions.

d. Is required to capitalize such expenditures and amortize them ratably over a period of not less than sixty months.