During 2020, Owl Corporation (a C corporation), a retailer of childrens apparel, made the donations listed below to qualified charitable organizations.

	Adjusted Basis	Fair Market Value
Childrens clothing held as inventory, to Haven for Hope (a homeless shelter)	$10,000	$15,000
Stock in Exxon Corporation acquired two years ago and held as an investment, to City University	5,000	3,000
Land acquired four years ago and held as an investment, to Humane Society	50,000	75,000

Required:

1. Both City University and the Humane Society sold the property donated by Owl while Haven for Hope distributed the clothing to families who came to the shelter. Indicate for each item the amount that could be deducted as a charitable contribution (ignore any limitations).

b. What advice would you have given Owl with respect to its charitable contributions for 2020?