Exercise 17-25 (Algorithmic) (LO. 2) 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 $51,200. 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. Feedback Check My Work A corporation may elect to amortize organizational expenses over a period of 15 years or more