Question: Exercise 10-19 (Algorithmic) (LO. 4) Candlewood LLC started business on December 1, and it adopted a calendar tax year. During the year, Candlewood incurred $7,100

 Exercise 10-19 (Algorithmic) (LO. 4) Candlewood LLC started business on December

Exercise 10-19 (Algorithmic) (LO. 4) Candlewood LLC started business on December 1, and it adopted a calendar tax year. During the year, Candlewood incurred $7,100 in legal fees for drafting the LLC's operating agreement and $3,550 in accounting fees for tax advice of an organizational nature, for a total of $10,650 of organizational costs. Candlewood also incurred $12,900 of preopening advertising expenses and $38,100 of salaries and training costs for new employees before opening for business, for a total of $51,000 of startup costs. The LLC wants to take the largest deduction available for these costs. If required, round any division to six decimal places and use in subsequent computations. Round your final answers to the nearest dollar. The LLC may deduct $ x as organizational expenses and $ x as startup expenses

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