12) Primary Corporation incorporated on June 1, 2018. It incurred organization costs of $10,000. It began business on July 1, 2018.

a) If in 2018, Primary elects to amortize organization costs under IRC Sec 248, how much can it expense in 2018 (not including any amortization expense)?

b) What is the amount of organization expense Primary will capitalize?

c) Of the amount Primary will capitalize, what is the amortization expense for 2018?