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QUESTION
Cherry Corporation, a calendar year C corporation, is formed and begins business on 8/1/2018. In connection with its formation, Cherry incurs...
Cherry Corporation, a calendar year C corporation, is formed and begins business on 8/1/2018. In connection with its formation, Cherry incurs organizational expenditures of $54,600.
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 2018.
