TAXATION

Cherry Corporation, a calendar year C corporation, is formed and begins business on April 1 of the current year, In connection with its formation, Cherry incurs organizational expenditures of $54,000. Round the per month amount to two decimal places. Round your final answer to the nearest dollar. Determine Cherry Corporation's deduction for organizational expenditures for the current year. Ferdbeck r Cheok My Wok Under $248, the first $5,000 of organizational expenditures are expensed and the remaining are amortized over the 180 -month period beginning with the month in which the corporation begins business