The Millicent Trust reports 2020 gross rent income of $200,000, expenses attributable to the rents of $110,200 and tax-exempt interest from state bonds of $10,000. Under the trust agreement, the trustee is to pay 15% of the annual trust accounting income to the Salvation Army, a qualifying charitable organization. If required, round any division to two decimal places. Round your final answer to the nearest dollar. a. The charitable contribution deduction allowed for 2020 is $ b. Express the solution as a Microsoft Excel command. GIFT=ACCTGINCOMEXCHARITYRATE DEDUCT=MIN(GIFT,(GIFTXGROSSINCOME/ACCTGINCOME)) 14,287 X. Feedback