Charitable contribution deduction for the current year, Finance Basics

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Charitable contribution deduction for the current year

Problem: Rainy Corporation has taxable income of $380,000 calculated before the charitable contribution deduction and before its dividends-received deduction of $44,000. Rainy Corp makes cash contributions of $25,000 to charitable organizations. What is Rainy Corporation's charitable contribution deduction for the current year?

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Finance Basics: Charitable contribution deduction for the current year

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Finance Basics: Charitable contribution deduction for the current year

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