76. Caskets Inc. was incorporated on June1, but it 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 incorporating	$8,000
Accounting fees for opening corporate books	400
Tax planning advice	300
Printing and issuing stock certificates	50
Incorporation fee to state	100
Temporary directors fees	2000
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 corporations first taxable year?