Aquamarine Corporation, a calendar year C corporation, makes the following donations to qualified charitable organizations during the current year: Painting held four years as an investment, to a church, which sold it immediately Apple stock held two years as an investment, to United Way, which sold it immediately Adjusted Basis Fair Market Value $17,880 $29,800 46,935 104,300 Determine the amount of Aquamarine Corporation's charitable deduction for the current year. (Ignore the taxable income limitation.) Painting: The amount of the contribution is basis Stock: The amount of the contribution is fair market value Groceries: The amount of the contribution is basis plus 50% of the appreciation on the property . Therefore, the total charitable contribution is $ 122,180 X.