Problem 16-50 (LO 16-2) (Static) [The following information applies to the questions displayed below.) In 2021, OCC Corporation made a charitable donation of $400,000 to the American Red Cross. For the year, OCC reported taxable income of $1,500,000 before deducting any charitable contributions, before deducting its $20.000 dividends-received deduction, and before deducting its $40,000 NOL carryover from last year. Assume the donation is a qualified contribution Problem 16-50 Part a (Static) a. What amount of the $400,000 donation is OCC allowed to deduct for tax purposes in 2021 what is the carryover to 2022, and when does the carryover expire? Deductible donation Carryover Carryover expire