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Diore Corporation, a designer handbag manufacturer owns designer handbags that it manufactured and has held for 5 vears. Its basis in the handhags is $120000
Diore Corporation, a designer handbag manufacturer owns designer handbags that it manufactured and has held for 5 vears. Its basis in the handhags is $120000 and the current FMV is $250,000. the corporation donates the handbags to a charitable fashion museum to display. The fashion museum displays the handbags for visitors to see and also uses the collection to perform research on the evolution of fashion. Assuming there are no taxable income limitations, what is Diore Corporation's charitable deduction? $120,000 stesm $240,000 $250,000
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