Conroy started a new corporation that began operations on July 8, 2020. Conroy incurred the...
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Accounting
Conroy started a new corporation that began operations on July 8, 2020. Conroy incurred the following expenses associated with starting the business between January 1, 2020 and June 30, 2020: 1. Employee wages: $13,700 2. Attorney's fees to draft corporate documents: $23,500 3. Utilities for the office building: $8,950 4. Business license fees: $2,375 5. Costs to market stock: $18,750 6. Accounting system development: $26,100 Assuming the corporation is a calendar-year corporation, how much of the corporation's organizational expenditures can Conroy deduct in 2020? Please round to the nearest dollar
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