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

The Hosta Trust reports gross rent income of $$72,000,$ expenses attributable to the rents of $$55,000,$ and tax$-$exempt interest from state bonds of $$18,000.$ 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.

In your computations, do not round any division.

Compute Hosta's charitable contribution deduction.