Jimmy Corporation had the following income and expenses during the current year: Gross receipts Selling and Administrative expenses Other operating expenses Contributions to qualified charitable organizations Capital gains Capital loss carryback Depreciation expense Dividend income Dividends-received deduction $480,000 200,000 40,000 32,000 4,000 3,000 40,000 30,000 21,000 What is Jimmy Corp's charitable contribution deduction for the current year? Be sure to explain your answer and show your work