Colby has decided to make charitable contributions of property this year. He donates a painting (adjusted basis $900, fair market value $40,000) that he previously created to a local art museum (a public charity under section 501(c)(3)). The painting will be exhibited in the museum's modern art collection. His adjusted gross income is $90,000. What is his charitable deduction for this year?

Select one:

a. $0

b. $900

c. $45,000

d. $40,000