Beech Corporation, an accrual$-$basis, calendar$-$year taxpayer, was organized and began business in May of the current calendar tax year. During the current year, the corporation incurred the following expenses:

Line Item Description Amount

State fees for incorporation $ $800$

Legal and accounting fees incident to organization $5,500$

Expenses for the sale of stock $2,500$

Organizational meeting expenses $1,000$

Round your answer to $2$ decimal places.

Assuming that Beech Corporation wishes to deduct organizational expenses as quickly as possible, calculate the corporation$$s deduction for its current calendar tax year.

fill in the blank $1$ of $1$$