Exercise $30-16($Algorithmic$)($LO$.2)$

The Hosta Trust reports gross rent income of $$98,800,$ expenses attributable to the rents of $$69,160,$ and tax$-$exempt interest from state bonds of $$24,700.$ Under the trust agreement, the trustee is to pay $20\%$ of the annual trust accounting income to the American Red Cross, a qualifying charitable organization.

If required, round any division to two decimal places. Round your final answer to the nearest dollar.

Compute Hoste's charitable contribution deduction.

$$ x

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An estate or a complex trust is allowed a deduction for contributions to charitable organizations under certain conditions.