Everest Corporation, a calendar year C corporation, was formed on March 7, 2015 and opened for business on July 1, 2015. After its formation but before opening for business, Everest Corporation incurred the following expenses:
|
Accounting
|
|
$7,150
|
|
Advertising
|
|
14,350
|
|
Employee Payroll
|
|
10,600
|
|
Rent
|
|
8,300
|
|
Utilities
|
|
1,600
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|
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Total Expenditure
|
|
$42,000
|
What is the maximum amount of these expenditures will Everest Corporation be allowed to deduct in 2015?