Problem 21-37 (LO. 4) Tom and Missy form TM Partnership, Ltd. (a limited partnership), to own and operate certain real estate. Tom contributed land, and Missy contributed cash to be used for setting up the entity and creating a plan for developing the property. Once a development plan was in place, the partnership sold interests in the partnership to investors to raise funds for constructing a shopping center. The partnership incurred expenses of $30,000 for forming the entity and $60,000 for starting the business (e.g, setting up the accounting systems locating tenants, and negotiating leases). It also paid $5,000 in transfer taxes for changing the ownership of the property to the partnership's name. The brokerage firm that sold the interests to the limited partners charged a 6% commission, which totaled $600,000. The calendar year partnership started business in November this year. Describe how these initial expenses are treated by the partnership. If an amount is zero, enter "O". If required round any division to five decimal places and use rounded amount in subsequent computation. Round final answers to the nearest dollar. of the partnership and is capitalized a. The $600,000 of brokerage commissions is treated as a syndication cost b. The $60,000 is treated as a startup costand TM would deduct c. The $30,000 is treated as an organizational cost and TM would deduct d. The $5,000 is treated as a cost of acquiring the land this year. 5,000 this year this year and TM would deduct