1. ABC Corporation (an accrual method, calendar year, C corporation) was formed and began operations on March 31, 2019. The following expenses were incurred on March 31, 2019):

Expenses of temporary directors and of organizational meetings	$5,500
Fee paid to the state of incorporation	7,000
Accounting services incident to organization	8,000
Legal services for drafting the corporate charter and bylaws	32,000

How much of the organizational expenditures is deductible in 2019?