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Cherry Corporation, a calendar year C Corporation, is formed and begins business on April 1, 2016. In connection with its formation, Cherry incurs organizational expenditures

Cherry Corporation, a calendar year C Corporation, is formed and begins business on April 1, 2016. In connection with its formation, Cherry incurs organizational expenditures of $54,000. Determine Cherry Corporations deduction for organizational expenditures for 2016.

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