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All final answers, unless otherwise indicated, have been rounded to the nearest $10. Also, assume that each question is independent of any other question. please
All final answers, unless otherwise indicated, have been rounded to the nearest $10. Also, assume that each question is independent of any other question. please answer questions using tax rules in effect for the year 2021, but ignoring temporary Covid-10 related changes.
0. Ben Baker makes a charitable contribution to a public charity. The contribution consists of an oil painting purchased by Ben several years ago at a cost of $1,000. The artist has now been discovered and the painting is worth $10,000. The charity operates an art museum and will sell the painting since it already has several of the artist's works. The funds will be used to acquire other artwork for display in the museum. What is the amount of Ben's charitable donation? A. $10,000 B. 9,000 C. 1,000 D. 500 E. None of the aboveStep by Step Solution
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