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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

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

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

Allowable organizational expenditure ______

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