View the step-by-step solution to: Egret Corporation, a calendar year C Corporation, was formed on

Egret Corporation, a calendar year C Corporation, was formed on June 7, 2011, and opened for business on September 1, 2011. After its formation but prior to opening for business, Egret incurred the following expenditures:

Accounting $4,000
Advertising $9,500
Employee Payroll $12,000
Rent $ 9,000
Utilities $2,000

What Is the maximum amount of these expenditures that Egret can deduct in 2011?

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