Silo Corp. was organized on March 1, 20XX, and began doing business on September 1, 20XX, and elected to file its income tax return on a calendar-year basis. The following qualifying organizational expenditures were incurred in organizing the corporation: July 1, 20XX $3,000 September 3, 20XX 5,600 The maximum allowable deduction for organizational expenditures for 20XX is $ 600. $3,000. $5,000. $5,080