Swan Corporation incurred the following expenditures in connection with the development of a new product:

|Salaries |$40,000

|Materials|8,000

|Advertising|3,000

|Market survey |2,000

If Swan Corporation elects to expense research and experimental expenditures, determine the amount of the deduction for research and experimental expenditures.

a. $40,000.

b. $48,000.

c. $50,000.

d. $51,000.

e. $53,000.

Do not copy from Chegg and give complete answer with explanation