Corporations had the following income and expenses during the current taxable year:
Income from operations $250,000
Expenses from operations $120,000
Dividends received (from a 70 percent-owned corporation)) $ 80,000
Cash charitable contributions $ 30,000
How much is Corporation's charitable contribution deduction for the current taxable year?
a. $14,600.
b. $21,000.
c. $26,000.
d. $30,000.