LO.3 Puffin Corporation was formed on July 1, 2012, and incurred qualifying organizational expenditures. It uses a
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LO.3 Puffin Corporation was formed on July 1, 2012, and incurred qualifying organizational expenditures. It uses a calendar year and wants to accelerate any deductions that are available. Based on this assumption, what is Puffin Corporation’s deduction for 2012 if its organizational expenditures are:
a. $3,000?
b. $46,000?
c. $52,000?
d. $77,000?
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Related Book For 
South Western Federal Taxation 2013 Individual Income Taxes
ISBN: 9781133189558
36th Edition
Authors: William Hoffman, James E. Smith
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