Emerald Corporation, a Calendar Year C Corporation, Was Formed and Began

Multiple Choice

Emerald Corporation, a calendar year C corporation, was formed and began operations on July 1, 2011. The following expenses were incurred during the first tax year (July 1 through December 31, 2011) of operations: Assuming a § 248 election, what is the Emerald's deduction for organizational expenditures for 2011?

A) $0.
B) $533.
C) $5,367.
D) $5,500.
E) None of the above.