10-73 (LO 10-4) (Algo) [The following information applies to the questions displayed below.] Nicole organized a new corporation. The corporation began business on April 1 of year 1. She made the following expenditures associated with getting the corporation started: Expense Attorney fees for articles of incorporation March 1-March 30 wages March 1-March 30 rent Stock issuance costs April 1-May 30 wages Note: Leave no answer blank. Enter zero if applicable. Date Amount February 10 $ 34,500 March 30 4,600 March 30 April 1 May 30 2,250 36,000 11,500 Problem 10-73 Part a (Algo) a. What is the total amount of the start-up costs and organizational expenditures for Nicole's corporation? Start-up costs Organizational expenditures Problem 10-73 (LO 10-4) (Algo) [The following information applies to the questions displayed below.] Nicole organized a new corporation. The corporation began business on April 1 of year 1. She made the following expenditures associated with getting the corporation started: Expense Attorney fees for articles of incorporation March 1-March 30 wages March 1-March 30 rent Stock issuance costs April 1-May 30 wages Note: Leave no answer blank. Enter zero if applicable. Date Amount February 10 $ 34,500 March 30 4,600 March 30 April 1 May 30 2,250 36,000 11,500 Problem 10-73 Part b (Algo) b. What amount of the start-up costs and organizational expenditures may the corporation immediately expense in year 1 (excluding the portion of the expenditures that are amortized over 180 months)? Start-up costs expensed Organizational expenditures expensed Required information Problem 10-67 (LO 10-3) (Algo) [The following information applies to the questions displayed below.] Lina purchased a new car for use in her business during 2022. The auto was the only business asset she purchased during the year, and her business was extremely profitable. Calculate her maximum depreciation deductions (including 179 expense unless stated otherwise) for the automobile in 2022 and 2023 (Lina doesn't want to take bonus depreciation for 2022 or 2023) in the following alternative scenarios (assuming half-year convention for all): (Use MACRS Table 1, Table 2, and Exhibit 10-10.) Problem 10-67 Part c (Algo) c. The vehicle cost $88,000, and she used it 80 percent for business. Depreciation Year deduction 2022 2023 [The following information applies to the questions displayed below.] Nicole organized a new corporation. The corporation began business on April 1 of year 1. She made the following expenditures associated with getting the corporation started: Expense Attorney fees for articles of incorporation March 1-March 30 wages March 1-March 30 rent Stock issuance costs April 1-May 30 wages Note: Leave no answer blank. Enter zero if applicable. Date Amount February 10 $ 34,500 March 30 4,600 March 30 2,250 April 1 May 30 36,000 11,500 Problem 10-73 Part d (Algo) d. What would be the total allowable organizational expenditures if Nicole started a sole proprietorship instead of a corporation? Allowable organizational expenditure