Pamela was an officer in Green Restaurant which subsequently went bankrupt. Pamela started a new restaurant and, to establish goodwill, paid off the debts of $100,000 of Green Restaurant. She was under no obligation to do so. The $100,000 is:
A) deductible currently as an itemized deduction.
B) capitalized because the expenses are not ordinary.
C) deductible currently as a trade or business expense since the expenses are considered ordinary and necessary business expenses.
D) None of the above.