68. Caskets Inc. was incorporated on June 1, but did not start business until September 1. It adopted a fiscal year ending March 31, coinciding with the end of its natural business cycle. In connection with organizing the business, Caskets Inc. incurred the following expenses: Legal fees for $8,000 incorporating Accounting fees for opening corporate books Tax planning advice 400 300 Printing and issuing stock certificates 50 100 Incorporation fee to state 2,000 Temporary directors' fees Legal fees for the transfer of assets to the corporation 500 $11,350 What is the amount of the organizational expenditures? How much of the amount is deductible in the corporation's first taxable year? a. b