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What is Puffin Corporation deduction for the current year

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Reference no: EM132673465

Problem - Puffin Corporation was formed on July 1 of the current tax year and incurred qualifying organizational expenditures. It uses a calendar year and wants to accelerate any deductions that are available. Based on this assumption, what is Puffin Corporation's deduction for the current year if its organizational expenditures are:

Required -

a. $3,000?

b. $46,000?

c. $52,000?

d. $77,000?

Reference no: EM132673465

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