Tory Considered Opening a Cupcake Store in Denver

question 97

Multiple Choice

Tory considered opening a cupcake store in Denver.He is not operating a similar business in any other location.After spending $8,600 on a market study,he decided against opening the store on August 1.What is the maximum amount of deduction for the current year attributable to this expenditure?

• A)$0
• B)$5,000
• C)$5,600
• D)$6,800

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Definitions:

Mental Retardation

An outdated and now considered offensive term for intellectual disability, which is characterized by limitations in intellectual functioning and adaptive behavior.

Mutations

Permanent alterations in genes or chromosomes that may produce harmful characteristics.

Heritability

The proportion of variation in a trait among individuals that can be attributed to genetic variations.

Monozygotic

Pertaining to twins who are genetically identical because they were formed from a single fertilized egg that split into two.