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In its first year of operations, Bell Corporatiion paid its attorney $4,000 and its accountant $2,000 for services related to the organization of the corporation.

In its first year of operations, Bell Corporatiion paid its attorney $4,000 and its accountant $2,000 for services related to the organization of the corporation. In its second year of operations, Bell paid the attorney $700 to handle contract negotiations with a new customer. Which expenses are immediately deductible and which ones must Bell Corporation amortize?

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