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Grace's Antiques, which has a fiscal year-end of June 30, owns an 18th-century flower vase, which Grace donated to her church to raise money to

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Grace's Antiques, which has a fiscal year-end of June 30, owns an 18th-century flower vase, which Grace donated to her church to raise money to purchase new pews (unrelated use). The vase was purchased as an investment three years ago and donated to the church this year. The vase cost $125,000 and had an FMV of $325,000 on the date of the donation. The church sells it to an art dealer for $350,000 on May 30. Applying the limitation of deduction for a charitable contribution of personal property to an organization that does not use the property for its tax-exempt purpose, how much will Grace's contribution for the donation of the vase be? A $125,000 B $225,000 I C $325,000 D $350,000 Grace's Antiques, which has a fiscal year-end of June 30, owns an 18th-century flower vase, which Grace donated to her church to raise money to purchase new pews (unrelated use). The vase was purchased as an investment three years ago and donated to the church this year. The vase cost $125,000 and had an FMV of $325,000 on the date of the donation. The church sells it to an art dealer for $350,000 on May 30. Applying the limitation of deduction for a charitable contribution of personal property to an organization that does not use the property for its tax-exempt purpose, how much will Grace's contribution for the donation of the vase be? A $125,000 B $225,000 I C $325,000 D $350,000

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