Sandstorm Corporation decides to develop a new line of paints. The project begins in 2023. Sandstorm incurs the following expenses in 2023 in connection with the project: Salaries: $85,000 Materials: $30,000 Depreciation on equipment: $12,500

The benefits from the project will be realized starting in July 2024.

Sandstorm's amortization deduction for 2023