Jebsim Inc. was organized on June 1 and began business on August 10. Jebsim elected a calendar year for tax purposes. The corporation incurred $51,160 of legal and other professional fees attributable to its formation. How much of these costs can Jebsim deduct on its first tax return?

a) $5,000

b) -0-

c) $5,154

d) $5,004