In December each year, Eleanor Young contributes 10% of her gross income to the United Way (a 50% organization), Eleanor, who is in the 24% marginal tax bracket, is considering the following alternatives for satisfying the contribution. (1) Cash donation (2) Unimproved land held for six years ($22,830 basis) (3) Blue Corporation stock held for eight months ($22,830 basis) (4) Gold Corporation stock held for two years ($182,640 basis) Fair Market Value $152,200 $152,200 $152,200 $152,200 Eleanor has asked you to help her decide which of the potential contributions listed above will be most advantageous tax-wise. Evaluate the four alternatives and complete a letter to Eleanor Determine the amount of the charitable contribution for each option. Charitable Cash donation Unimproved land held for six years ($22,830 basis) Blue Corporation stock held for eight months ($22,830 basis) Gold Corporation stock held for two years ($182,640 basis) Contribution 152,200 152,200 22,830 152,200