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Exercise 2-31 (Algorithmic) (LO. 3) Cherry Corporation, a calendar year C corporation, is formed and begins business on 4/1/2017. In connection with its formation, Cherry

Exercise 2-31 (Algorithmic) (LO. 3)

Cherry Corporation, a calendar year C corporation, is formed and begins business on 4/1/2017. In connection with its formation, Cherry incurs organizational expenditures of $51,400.

Round the per month amount to two decimal places. Round your final answer to the nearest dollar.

Determine Cherry Corporations deduction for organizational expenditures for 2017. $

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