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:

Expense

Date

Amount

Attorney fees for articles of incorporation

February 10

$

42,500

March 1 March 30 wages

March 30

7,150

March 1 March 30 rent

March 30

3,050

Stock issuance costs

April 1

20,000

April 1 May 30 wages

May 30

17,875

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 it immediately expensed)? (Round intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount.) Start-up costs amortized: Organizational expenditures amortized: