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Appalachian Outdoor Apparel Corporation is a clothing manufacturer. In 2020, the company donated 1,000 winter coats to local homeless shelters in the area. The coats

Appalachian Outdoor Apparel Corporation is a clothing manufacturer. In 2020, the company donated 1,000 winter coats to local homeless shelters in the area. The coats would have sold in stores for $90 each. What is Appalachian Outdoor Apparels charitable contribution deduction for the coats if the adjusted basis was $40 each at the time of donation? Cite only primary sources.

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