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Diore Corporation, a designer handbag manufacturer owns rare vintage designer handbags that it has held for 10 Years, its basts in the handthags is $200,000
Diore Corporation, a designer handbag manufacturer owns rare vintage designer handbags that it has held for 10 Years, its basts in the handthags is $200,000 and the current FMV is $700,000. The corporation donates the handbags to a charitable fashion museum to display. The fashion museum displays 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? $400,000 $700,000 $450,000 5200,000
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