17. Arnold, a single individual, has adjusted gross income of $50,000 in the current year. Arnold donates the following items to his favorite qualified charities: 1. ABC stock acquired six years ago at a cost of $6,000. FMV at date of contribution was $40,000. 2.Personal clothing items purchased two years ago at a cost of $1,000. FMV at the date of contribution was $400. What is the amount of his charitable contribution for the current year? A. 15,400 B23,000 C19,300 D. 18,800 18. In the current year, Julia earns $8,000 in net investment income and incurs $15,000 of investment interest expense. What is the maximum amount of investment interest expense she is allowed to deduct this year? A) S0 3) $8,000 deductible this year; $7,000 carried forward to next year )$3,000 deductible this year; $12,000 carried forward to next year $15,000 deductible this year; nothing to be carried forward to next year