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This year, Esperanza incurred $7,000 in organizational costs related to setting up her new business as a single-member LLC. Esperanza will report her income and

This year, Esperanza incurred $7,000 in organizational costs related to setting up her new business as a single-member LLC. Esperanza will report her income and expenses from her business on Schedule C. How much may Esperanza deduct this year for her organizational costs?

a. $5000

b. $5133

c. $7000

d. None of Esperanza's costs may be deducted

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