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Determine the total amount that XYZ can elect to deduct

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Question - XYZ Company begins business on April 29, 2020. XYZ reports startup expenditures of $64,000 all incurred last year. Determine the total amount that XYZ can elect to deduct in 2020.

a. $3,200

b. $0

c. $7,950

d. $4,267

Reference no: EM132641097

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