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A corporation donates to a qualified public charity stock in another corporation that it purchased nine months earlier. The corporation's basis in the stock is

A corporation donates to a qualified public charity stock in another corporation that it purchased nine months earlier. The corporation's basis in the stock is $10,000, and at the time of the donation to the public charity the stock was worth $18,000. The corporation's taxable income for the year (excluding the charitable contribution deduction) is $60,000. Included in this calculation is a $5,000 dividends received deduction and $1,000 domestic production activities deduction. The corporation's charitable contribution carryover equals:
Answers: a.
$3,400
b.
$11,400.00
c.
$4,000
d.
$12,000
e.

$0.00

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