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At Melissas urging, Kenny contributed $25,000 in cash to a foreign charitable organization. At the time of the contribution, the organization told Kenny that his
At Melissas urging, Kenny contributed $25,000 in cash to a foreign charitable organization. At the time of the contribution, the organization told Kenny that his contribution was tax deductible for income tax purposes. Ignoring any income limitations, how much of the $25,000 contribution is deductible?
| A. | $0 |
| B. | $12,500 |
| C. | $21,000 |
| D. | $25,000 |
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New Venture Creation A Framework For Entrepreneurial Start-ups
Authors: Paul Burns
2nd Edition
1352000504, 978-1352000504
