Calculate the Charity Deduction for a Corporation given the following:

1. Donated a painting held (held for six years) as an investment to a museum which displayed the painting: Basis $180,000 FMV: $75,000

2. Donated equipment held (held for two years) to a a school which used the equipment in its mission: Basis $90,000 FMV: $75,000

3. IBM stock held as an investment for 6 months to United Way which sold it immediately: Basis: $550,000 FMV: $600,000

4. Inventory (Canned food) to a charity which used it in its charitable activities (feeding the homeless): Basis $70,000 FMV: $100,000

5. What is the charitable deduction if the taxable income (before considering the charitable deduction) is $1,000,000?

6. Which of the above (1-3) is tangible personal property?