Question 7 James McHughes gave the following to the Cay of Carnesville in order to establish a private porpone test Land-cost, $350,000, fair market value as of the date of the gin, $425.000 Securities - cost $1,440,000, fair market value as of the date of the gi, 31.760,000 The amount to be recorded as additlons for gifts by the private purpose trust fund would be a 1,865,000 Ob $2,100,000 O c. 52,175,000 O d. 51.790,000