Fish, Inc., an exempt organization, reports unrelated business income of $500,000 (before any charitable contribution deduction). During the year, Fish makes charitable contributions of $54,000, of which $38,000 is associated with the unrelated trade or business.

a. Fish's unrelated business taxable income (UBTI) is $. ???????

b. Express your computation in part (a) as a Microsoft Excel formula.

DEDUCT=UBI_BEFORE-1000-MIN(CHAR,(UBI_BEFORE*.1))

c. Assume instead that the charitable contributions are $41,000, of which $38,000 is associated with the unrelated trade or business. The UBTI is $.???????