Karen, a calendar year taxpayer, made the following donations to qualified charitable organizations during 2018:

Fair

Market

Basis Value

Cash donation to State University $30,000 $ 30,000

Unimproved land to the City of Terre Haute, Indiana 70,000 310,000

The land had been held by Karen as an investment and was acquired 4 years ago. Shortly after receipt, the City of Terre Haute sold the land for $310,000. Karens AGI is $950,000. Before taking into account any phase-down of itemized deductions, the allowable charitable contribution deduction 2018 is:

a. $100,000.

b. $165,000.

c. $225,000.

d. $340,000.

e. $315,000.