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

Emerald Corporation, a calendar year C corporation, was formed and began operations on April 1, 2017.The following expenses were incurred during the first tax year (April 1 through December 31, 2017) of operations. $\begin{array}{lr}\text { Expenses of temporary directors and of organizational meetings } & \$ 27,000 \\\text { Fee paid to the state of incorporation } & 1,000 \\\text { Accounting services incident to organization } & 15,500 \\\text { Legal services for drafting the corporate charter and bylaws } & 9,500 \\\text { Expenses incident to the printing and sale of stock certificates } & 6,000\end{array}$ ? Assuming a § 248 election, what is the Emerald's deduction for organizational expenditures for 2017?

A) $0
B) $4,550
C) $5,000
D) $7,400
E) None of the above