Exercise 3-28 (Algorithmic) (LO. 2) Cherry Corporation, a calendar year C corporation, is formed and begins business on 4/1/2021. In connection with its formation, Cherry incurs organizational expenditures of $50,700. 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. $ 6,800 X Feedback 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