In 2021, LAA Incorporated made a charitable donation of $132,000 to the American Red Cross. For the year, LAA reported taxable income of $572,000, which included a $132,000 charitable contribution deduction (before limitation), a $64,500 dividends-received deduction, and a $10,800 net operating loss carryover from year 2020. What is LAA Incorporateds charitable contribution deduction for 2021? Assume the charitable donation is not a qualified contribution because LAA Incorporated. Did not make the necessary election.

Charitable contribution deduction for year 1?