In year 1 (the current year), LAA Inc. made a charitable donation of $101,250 to the American Red Cross (a qualifying charity). For the year, LAA reported taxable income of $600,000, which included a $101,250 charitable contribution deduction (before limitation), a $56.000 dividends received deduction, and a $13,700 net operating loss carryover from year o What is LAA Inc.'s charitable contribution deduction for year 1? Charitable contribution deduction for year 1