Four Unrelated,calendar Year Corporations Are Formed on January 1,2012,and Have

question 122

Essay

Four unrelated,calendar year corporations are formed on January 1,2012,and have the following qualified organizational expenditures: $4,000 for Maize Corporation; $15,000 for Orange Corporation; $53,000 for Pearl Corporation; and $56,000 for Chestnut Corporation.What is the maximum deduction each can claim for 2012?

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Definitions:

Quarts Of Milk

A unit of volume measurement used primarily in the United States to measure liquids, with one quart equivalent to roughly 0.946 liters; often used to measure milk quantity.

Cereal

Grain-based food processed or whole, often consumed as breakfast and served either hot or cold, usually in milk or yogurt.

Marginal Cost

The financial outlay for creating an additional unit of a product.

Stand-By Passenger

A traveler waiting without a confirmed seat assignment, hoping to board a flight due to last-minute cancellations or no-shows.