Shamberly Corp. is a calendar year, accrual basis corporation that has been in business for 30 years. The following income and expenses appear on Shamberly's records for the year ended December 31, Year 3.

Revenues and Gains
Gross sales	$	1,000,000
Dividends:
10%-owned domestic corporation ABC Corp.		400,000
Interest
California State bonds		15,000
U.S. treasury bonds		35,000
Gain on sale of ABC stock		95,000
Key person life insurance proceeds		300,000
Total	$	1,845,000
Costs and Expenses
Cost of goods sold		650,000
Salaries and wages		420,000
Depreciation		220,000
Meals expense (restaurants)		20,000
Key person life insurance premiums		15,000
State income taxes		10,000
Federal income taxes		45,000
Rent, Utilities, etc.		200,000
Other expenses		50,000
Total		1,630,000
Net Income	$	215 000

Shamberly Corp is contemplating making a charitable contribution that would be deductible in Year 3. It would like to give the minimum amount necessary to maximize its tax benefit from the contribution deduction for Year 3. Analyze the effect this contribution will have on Shamberly's taxable income for Year 3. (Amounts to be deducted should be indicated by a minus sign.)