PROBLEM 1 Michigan state

Part 1:

Green Corp., a cash basis and calendar year taxpayer, was formed and began operations on August 22, 2014. Green incurred the following expenses during its first year of operations (August 22 Dec. 31):

Expenses of temporary directors and organizational meetings $24,000

Fee paid to state of incorporation 7,000

Expenses in printing & sale of stock certificates 7,200

Legal services for drafting corporate charter & bylaws 18,800

Total 57,000

With an election under section 248 to amortize qualifying organizational expenses, how much may the corporation deduct for tax year 2014?