Exercise 7-27 (Algorithmic) (LO. 5) Sandstorm Corporation decides to develop a new line of paints. The project begins in 2023 in the U.S. Sandstorm incurs the following expenses in 2023 in connection with the project: The benefits from the project will be realized starting in July 2024. If an amount is zero, enter "0". Sandstorm Corporation capitalizes and amortizes its research and experimental expenditures. What are its related deductions in 2023 and 2024 ? \begin{tabular}{ll} 2023:$ & X \\ 2024:$ & X \end{tabular} Feedback Check My Work Section 174 covers the treatment of research and experimental expenditures. The Regulations define research and experimental expenditures as follows: all such costs incident to the development of an experimental or pilot model, a plant process, a product, a formula, an invention, or similar property, and the improvement of already existing property of the type mentioned