1) The following expenses are incurred by Robin, Inc. when it is organized on July 1: Attorney fees to draft charter Underwriter fees for stock sale Transfer cost for property contributed to the corporation for stock Costs of organizational meetings before beginning business Costs of directors' meetings after beginning busines $20,000 10,000 4,000 5,000 8,000 Robin commenced business on September 8. What is the maximum amount of organizational expenditures that can be deducted by the corporation for its first tax year ending December 31