Candlewood LLC started business on September 1, 2017 and adopted a calendar year. During 2017, Candlewood incurred $6,500 in legal fees for drafting the LLCs operating agreement and $3,000 in accounting fees for tax advice of an organizational nature, for a total of $9,500 of organizational costs. Candlewood also incurred $30,000 of preopening advertising expenses and $24,500 of salaries and training costs for new employees before opening for business, for a total of $54,500 of startup costs. The LLC wants 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.

In 2017, the LLC may deduct $_________ as organizational expenses and $_________ as startup expenses.

($5,000, $500) ($5305, $1768) are incorrect