Cherry Corporation, a calendar year C corporation, is formed and begins business on 2/1/2001. In connection with its formation, Cherry incurs organizational expenditures of $50,000. Round the per month amount to two decimal places. Round your final answer to the nearest dollar. Determine Cherry Corporation's deduction for organizational expenditures for the current yea 4,777 X Check My Wh Under 248, a corporation may elect to amortize organizational expenditures over the 180-month period beginning with the month in which the corporation begins business.