4. Elliott buys and sells private jets. His AGI this year is $300,000. He has a Peter Max painting (he purchased the painting for $50,000, but it is worth $100,000 now) that he wants to donate this year. There are two charities that he is considering for a donation: Shriner's Hospital for Children and the Museum of Modern Art (both are qualified charities). If he decides to donate the painting to the Museum of Modern Art, it will be displayed for the public. If he donates it to the hospital, it will be sold. Elliott's charitable contribution deduction will be $_ year if he contributes the painting to the (3 points) higher this instead of the