Racine Started a New Business in the Current Year

question 55

Multiple Choice

Racine started a new business in the current year. She incurred $52,000 of start-up costs. If her business started on November 23^rd of the current year, what is the total expense she may deduct with respect to the start-up costs for her initial year, rounded to the nearest whole number?

• A) $2,555
• B) $3,544
• C) $5,522
• D)$52,000
• E)None of these

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Definitions:

Capitoline Wolf

A bronze sculpture depicting a scene from Roman mythology, specifically the she-wolf suckling the future founders of Rome, Romulus and Remus.

Etruscan Orientalizing

A phase in the early history of ancient Italy, characterized by the influence of Near Eastern art and motifs on Etruscan artifacts and architecture.

Apollo Of Veii

An ancient Etruscan terracotta statue representing the Greek god Apollo, found in the ruins near Veii, Italy.

Colossal

Extremely large or great in scale, size, or extent, often used to describe statues, buildings, and natural features of remarkable magnitude.