Lauren owns stock for which she paid $70,000 several years ago. She is considering donating the stock to the United Way. The fair market value of the stock is $80,000. Her adjusted gross income is $90,000. Lauren has $5,000 of other itemized deductions. She expects that her adjusted gross income will decrease by $10,000 a year and her itemized deductions will remain constant over the next 4 years. Assume a present value factor of 10 percent. Write a letter to Lauren explaining whether she should deduct the fair market value of the stock or reduce the amount of her contribution to the adjusted basis of the property