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8. Owl Corporation (a C corporation), a retailer of children's apparel, made the following donations to qualified charitable organizations in the current year. Adjusted Basis
8. Owl Corporation (a C corporation), a retailer of children's apparel, made the following donations to qualified charitable organizations in the current year. Adjusted Basis Fair Market Value Children's clothing held as inventory, to $10,000 $15,000 Haven for Hope Stock in Exxon Corporation acquired two years ago and held as an investment, to City University 5,000 3,000 Land acquired four years ago and held as an 50,000 75,000 investment, to Humane Society How much qualities for the charitable contribution deduction (ignoring the taxable income limitation)? a. $63.000 b. $65.000 c. $90,500 d. $92,500
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