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Exercise 17-25 (Algorithmic) (LO. 2) Cherry Corporation, a calendar year C corporation, is formed and begins business on 2/1/2020. In connection with its formation, Cherry

Exercise 17-25 (Algorithmic) (LO. 2)

Cherry Corporation, a calendar year C corporation, is formed and begins business on 2/1/2020. In connection with its formation, Cherry incurs organizational expenditures of $52,400.

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 year. $_

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