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MR Hank owns and operates a pet store. She contributed 5 , 0 0 0 bags of cat and dog food from her inventory to

MR Hank owns and operates a pet store. She contributed 5,000 bags of cat and dog food from her inventory to the local Society for Prevention of Cruelty to Animals. Her cost basis in the pet food was $6,300, and its FMV (retail) was $5,600. Ms. Holks itemized deduction for this contribution is limited to______
$6,300
$700
$5,600
$11,900

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