Question: Exercise 12-8 (Algorithmic) (LO. 7) Cherry Corporation, a calendar year C corporation, is formed and begins business on 2/1/2021. In connection with its formation,

Exercise 12-8 (Algorithmic) (LO. 7) Cherry Corporation, a calendar year C corporation,

Exercise 12-8 (Algorithmic) (LO. 7) Cherry Corporation, a calendar year C corporation, is formed and begins business on 2/1/2021. In connection with its formation, Cherry incurs organizational expenditures of $51,300. 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. 264.44 X

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