Exercise 12-8 (Algorithmic) (LO. 7) Cherry Corporation, a calendar year C corporation, is formed and begins business on 6/1/2021. In connection with its formation, Cherry incurs organizational expenditures of $54,300. 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. X Feedback V Check My Work Under 248, a corporation may elect to amortize organizational expenditures over the 180-month period beginning with the month in which the corporation begins business