Iris, a calendar year cash basis taxpayer, owns and operates several TV rental outlets in Florida and wants to expand to other states. During 2019, she spends $14,000 to investigate TV rental stores in South Carolina and $9,000 to investigate TV rental stores in Georgia. She acquires the South Carolina operations but not the outlets in Georgia. As to these expenses, Iris should:
Select one:a. None of the above. b. Expense $9,000 for 2018 and capitalize $14,000. c. Expense $23,000 for 2018. d. Capitalize $14,000 and not deduct $9,000. e. Capitalize $23,000.
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