Glass House Co. decides to develop a new software. The project begins in 2019. Glass House Co. incurs the following expenses in 2019 and 2020 in connection with the project: 2019 2020 Salaries $31,000 $19,000 Equipment $18,000 $21,000 Depreciation on equipment $19,500 $15,500 Glass House Co. elected to apply a deferral and amortization method. The benefits from the project will be realized starting on May 1st, 2021. How much can Glass House Co. deduct for R&E expenses in 2021? Group of answer choices $12,400 $18,600 $16,533 $20,667
Glass House Co. decides to develop a new software. The project begins in 2019. Glass House Co. incurs the following expenses in 2019 and 2020 in connection with the project:
2019 2020
Salaries $31,000 $19,000
Equipment $18,000 $21,000
Glass House Co. elected to apply a deferral and amortization method. The benefits from the project will be realized starting on May 1st, 2021. How much can Glass House Co. deduct for R&E expenses in 2021?
Group of answer choices
$12,400
$18,600
$16,533
$20,667
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