In 2021, LAA Incorporated made a charitable donation of $158,250 to the American Red Cross. For the year, LAA reported taxable income of $612,000, which included a $158,250 charitable contribution deduction (before limitation), a $71,500 dividends-received deduction, and a $11,600 net operating loss carryover from year 2020. What is LAA Incorporated's charitable contribution deduction for 2021? Assume the charitable donation is not a qualified contribution because LAA Incorporated. Did not make the necessary election. Chantable contribution deduction for year 1