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Question 3 Manual wants to make a contribution worth $10,000 to his favorite charity.He is considering donating one of the four assets set forth below.Which
Question 3
Manual wants to make a contribution worth $10,000 to his favorite charity.He is considering donating one of the four assets set forth below.Which of the following assets should Manuel contribute to his favorite charity and why?
- Stock acquired five years ago at a cost of $14,000.The current fair market value is $10,000.
- Stock acquired six months ago at a cost of $5,000.The current fair market value is $10,000.
- Inventory items acquired last year for Manuel's sole proprietorship.Their cost was $15,000, and their current fair market value is $10,000.
- $10,000 in cash.
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