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46. Iris, a calendar year cash basis taxpayer, owns and operates several TV rental outlets in Florida and wants to expand to other states. During the current year, she spends $12,000 to investigate TV rental stores in South Carolina and $8,000 to investigate TV rental stores in Georgia. She acquires the South Carolina operations but not the outlets in Georgia. As to these expenses, Iris should: a. Expense and deduct $20,000 in the current year. b. Capitalize $12,000 and not deduct $8,000. c. Expense and deduct $8,000 in the current year and capitalize $12,000. d. Capitalize $20,000. e. None of the above