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

Cherry Corporation, a calendar year C corporation, is formed and begins business on 6/1/2020. In connection with its formation, Cherry incurs organizational expenditures of $53,800.

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.