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Joey owns a hardware store in New York. He has decided to expand his business interests and is considering opening a jewelry store in a

Joey owns a hardware store in New York. He has decided to expand his business interests and is considering opening a jewelry store in a neighboring town. He has incurred $18,000 of expenses investigating whether to open the new jewelry store. In July of the current year, he finds the perfect location and opens the jewelry store on October 1. What amount of the investigation expenses can he deduct in the current year?

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