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Holover Corporation started business on July 1 of last year and has electd to deduct the maximum amount allowable of its organizational expenses of 60,000.

Holover Corporation started business on July 1 of last year and has electd to deduct the maximum amount allowable of its organizational expenses of 60,000. The maximum deduction that can be claimed for organizational expenses of 60,000. The maximum deduction that can be claimed for organizational expense on Holover's current year federal income tax return is ?

a.4,000

b.60,000

c.2,000

d.0

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