Mr. Benedict is starting Belmont Abbey Corporation (BAC). Benedict spends $4,000 on salaries to help startup BAC. Mr. Benedict also spends $5,000 for a CPA (file documents), $4,000 for a lawyer (file documents), and $3,000 for printing and selling stock shares. How much can Mr. Benedict deduct in the current year if business starts on July 17? A. $5,133.33 B. $5,366.66 C. $9,133.33 D. $9,233.33
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Benedict is starting Belmont Abbey Corporation (BAC).
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