Question
Owens Corporation donates inventory having an adjusted basis of $30,000 and an FMV of $100,000 to County Hospital, which is a qualified public charity. What
Owens Corporation donates inventory having an adjusted basis of $30,000 and an FMV of $100,000 to County Hospital, which is a qualified public charity.
What is the amount of Owens's deduction? Explain your answer.
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Auditing And Assurance Services
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Strawser
2nd Edition
0073128244, 9780073128245
