Question: In year l (the current year), MLK Inc. made a charitable donation of $100,000 to the Bowie State University (a qualifying charity). For the year, MLK reported taxable income of $550,000 which included a $100,000 charitable contribution deduction (before limitation), a $50,000 dividends received deduction, a $20,000 domestic production activities deduction, and a $10,000 net operating loss carryover from year 0. What is MLK Inc.'s charitable contribution deduction for year l?