Ish Inc. (calendar year business) formed on March 1, 2020 and began operations on April 1, 2020. Ish incurred $30,000 in legal and accounting fees during the month of March. During the month of March, Ish also incurred $65,000 in employee expenses and other costs associated with starting up the business. If Ish Inc. properly elects to deduct and amortize the organization and start-up costs in a timely manner, how much of these costs are deducted on the 2020 tax return? SHOW ALL SUPPORTING WORK TO RECEIVE FULL CREDIT! (AND LABEL IT)