Current Attempt in Progress Swifty Company is a U.S. based company that designs and bullds compressors for large HVAC units. Swifty decldes to bulid a new plant In China, its first attempt at doing business internationally. During its start-up phase, Swifty incurs $2022000 of start-up costs including $1011000 in legal fees, $707700 to introduce its product, and another $303300 in state fees to the Chinese government to organize the new business entity. Swifty Company's CEO fully expects the company to become profitable during its 3rd year of operations. How should Swifty Company account for these costs? Swifty can capitalize $707700 related to introducing its product, but the other costs must be expensed as incurred. Swifty can capitalize $1314300 related to legal and state fees, but the other costs must be expensed as incurred. Swifty must expense all $2022000 start-up costs as incurred. Swiity can capitallze $1011000 in legal fees, but the other costs must be expensed as incurred