ACME Corporation, an accrual basis taxpayer, was formed and began operations on October 1, 2016. The following expenses were incurred during the first tax year (October 1 to December 31, 2016) of operations:

Expenses of temporary directors and of organizational meetings $15,0000

Fee paid to the state of incorporation $8,500

Accounting services incident to organization $13,500

Legal services for drafting the corporate charter and bylaws $16,000

Expenses incident to the printing and sale of stock certificates $5,000

$58,000

Assume ACME Corporation makes an appropriate and timely election under 248(c) and the related Regulations. What is the maximum organizational expense ACME may write off for tax year 2016?