Lucy organized a new corporation. The corporation began business on May 1, 2019. She made the following expenditures associated with getting the corporation started:

Expense Date Amount

Legal drafting of corporate charter February 2 $28,000

Rental (April 2019) April 30 6,000

Organizational meeting April 30 3,500

Salaries and Wages (April 2019) April 30 8,000

Rental (May 2019) May 31 12,000

REQUIRED:

i What is the total amount of the start-up costs and organizational expenditures for Lucy's corporation

IL. What amount of start-up costs and organizational expenditures may the corporation immediately expense in 2019?

. What amount can the corporation deduct as amortization expense for the organizational expenditures and the start-up costs for the year 2019 (excluding the amount determined in part (b)]?