During the current year,Kingbird Corporation (a calendar year C corporation) had the following income and expenses: Income from operations $200,000 Expenses from operations 140,000 Dividends received (15% ownership) 15,000 Domestic production activities deduction 2,000 On October 1,Kingbird Corporation made a contribution to a qualified charitable organization of $9,000 in cash (not included in any of the above items) .Determine Kingbird's charitable contribution deduction for the current year.
A) $9,000
B) $7,500
C) $6,650
D) $6,450
E) None of the above
Correct Answer:
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