Nicole organized a new corporation. The corporation began business on April 1 of year 1. She made the following expenditures associated with getting the corporation started: (Leave no answer blank. Enter zero if applicable.)

Expense Date Amount

Attorney fees for articles of incorporation February 10 $ 38,000

March 1March 30 wages March 30 5,800

March 1March 30 rent March 30 2,600

Stock issuance costs April 1 29,000

April 1May 30 wages May 30 14,500

c. What amount can the corporation deduct as amortization expense for the organizational expenditures and for the start-up costs for year 1 [not including the amount determined in part (b)]? (Round intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount.)

Start up costs amortized _________

Organizational expenditures amortized _______

d. What would be the total allowable organizational expenditures if Nicole started a sole proprietorship instead of a corporation?

allowable organizational expenditure ______