A firm must capitalize start-up expenditures of a new business in excess of $5,000 but may deduct expansion costs of an existing business. True or Falso Selie incorporated paid a 52 million lumpp sum to purchase a business. According to the controct, the seiler of the business is prahibited from engaging in a simider business for 18 months. Selkie allocated 5300,000 of the purchase price to this covensnt not to compete. Selkie may amortire the 5300,000 over 15 years. True or Falye