During 2020, Ketay Corporation (a calendar year taxpayer) made a charitable contribution of property. The property had a FMV of $12,000, and Ketay's tax basis in the asset was $8,500. The property contributed was held by Ketay for three years and is being put to a related use by the charitable organization receiving it. Ketay also has a charitable contribution carryforward of $6,000 from a gift made in 2016. a. Does Ketay use the FMV or the basis to determine the amount of the charitable contribution for 2020? b. The charitable contribution limitation is $10,500 for 2020. Are there any charitable contributions to carry forward to 2021? If so, what is the amount, and in which year did the carryforward originate? c. In 2021, Ketay has a charitable contribution limitation of $8,500. Ketay is considering making a qualified donation of $10,000 in either 2021 or 2022. What would your recommendation be, and why? You can assume taxable income is projected to remain steady in future years.