LO 11.3 6. Citradoria Corporation is a regular corporation that contributes $35,000 cash to qualified charitable organizations during 2010. The corporation has net operating income of

$140,000, before deducting the contributions, and dividends received from domestic corporations

(ownership in all corporations is less than 20 percent) in the amount of $20,000.

a. What is the amount of Citradoria Corporation’s allowable deduction for charitable contributions for the current year?

$ ____________

b. What may the corporation do with any excess amount of contributions?