1) This year Darcy made the following charitable contributions:

Donee	Property	Cost	FMV
State University	IBM stock	$15,000	$10,500
Salvation Army	clothes	2,500	500
State Art Museum	painting	5,000	45,000
City Hospital	cash	8,000

Determine the maximum amount of charitable deduction for Darcy's contribution of the painting if her AGI is $80,000 this year. You may assume that both the stock and painting have been owned for 10 years and that the painting was used by the State Art Museum consistent with museum's charitable purpose.