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Cherry Corporation, a calendar year C corporation, is formed and begins business on 4 / 1 / 2 0 2 3 . In connection with

Cherry Corporation, a calendar year C corporation, is formed and begins business on 4/1/2023. In connection with its formation, Cherry incurs organizational expenditures of $52,700.
Determine Cherry Corporation's deduction for organizational expenditures for the current year.

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