The answer is not correct.

In its first year (2021), Barsky Corporation made charitable contributions totaling $70,000. The corporation's taxable Income before any charitable contribution deduction was $250,000. In its second year (2022), Barsky made charitable contributions of $15,000 and earned taxable income before the contribution deduction of $300,000. Required: a. Compute Barsky's allowable charitable contribution deduction and its final taxable income for its first year. Allowable charitable contribution deduction Final taxable income Amount S 25,000 S 225,000 b. Compute Barsky's allowable charitable contribution deduction and its final taxable income for its second year. Allowable charitable contribution deduction Final taxable income Amount S 20,000 $ 280,000