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Candlewood LLC began its business on March 1, 2019; and it uses a calendar tax and an accounting year. Candlewood incurred $11,200 in legal fees

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Candlewood LLC began its business on March 1, 2019; and it uses a calendar tax and an accounting year. Candlewood incurred $11,200 in legal fees for drafting the LLC's operating agreement and $5,600 in accounting fees for tax advice of an organizational nature, for a total of $16,800 of organizational costs. Candlewood also incurred $12,900 of preopening advertising expenses and $38,100 of salaries and training costs for new employees before opening for business, for a total of $51,000 of startup costs. The LLC desires to take the largest deduction available for these costs. If required, round any division to six decimal places and use in subsequent computations. Round your final answers to the nearest dollar. Compute Candlewood's deductions for the first year of its operations for: a. Organizational expenses: $ 5,262 x b. Startup expenses: $ 5,089 x Candlewood LLC began its business on March 1, 2019; and it uses a calendar tax and an accounting year. Candlewood incurred $11,200 in legal fees for drafting the LLC's operating agreement and $5,600 in accounting fees for tax advice of an organizational nature, for a total of $16,800 of organizational costs. Candlewood also incurred $12,900 of preopening advertising expenses and $38,100 of salaries and training costs for new employees before opening for business, for a total of $51,000 of startup costs. The LLC desires to take the largest deduction available for these costs. If required, round any division to six decimal places and use in subsequent computations. Round your final answers to the nearest dollar. Compute Candlewood's deductions for the first year of its operations for: a. Organizational expenses: $ 5,262 x b. Startup expenses: $ 5,089 x

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