Noble, a cash-basis calendar-year partnership, began business on April 1, Year 1. Noble incurred and paid the following during Year 1: Legal work associated with formation of the partnership: $ 25,260 Accounting fees associated with promoting and selling partnership interests: $10,000 What is the maximum amount of organizational costs deductible on Nobles's Year 1 partnership return? a. $6,013 b. $5,513 c. $6,513 d. $5,000 QUESTION 24 A shareholder will increase the tax basis in his or her stock for: a. Share of nondeductible expenses b. Distribution c. Share of ordinary business loss d. Tax-Exempt Income