3. Harper Corporation, an accrual basis taxpayer, was formed and began operations on April 1, 2020. The following expenses were incurred during the first tax year (April 1 to December 31, 2020) of operations.

Expenses of temporary directors and of organizational meetings	$ 21,000
Fee paid to state of incorporation	$ 3,000
Accounting services incident to origination	$ 18,000
Legal services for drafting the corporate charter	$ 11,200
Expenses incident to the printing and sale of stock certificates	$ 20,300

Assume that Harper Corp makes an appropriate and timely election under 248 and the related Regulations. What is the maximum amount of organizational expenses Harper may write off for tax year 2020?