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Exercise 14-5 (Algorithmie) (LO. 3) Candlewood LLC began its business on March 1, 2022; and it uses a calendar tax and an accounting year. Candlewood

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Exercise 14-5 (Algorithmie) (LO. 3) Candlewood LLC began its business on March 1, 2022; and it uses a calendar tax and an accounting year. Candlewood incurred $13,800 in legal fees for drafting the LLC's operating agreement and $6,900 in accounting fees for tax advice of an organizational nature, for a total of $20,700 of organizational costs. Candlewood also incurred $22,000 of preopening advertising expenses and $31,000 of salaries and training costs for new employees before opening for business, for a total of $53,000 of startup costs. The LLC desires to take the largest deduction avaliable 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 Candiewood's deductions for the first year of its operations for: a. Organizational expenditures: $ Startup expenses: 4

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