rel During the current year, Owl Corporation (a C corporation), a retailer of children's appa income for the year is $350,000 a. What is the total amount of Owl's charitable contributions for the year? b. What is the amount of Owl's charitable contributions deduction in the current year a organizations. . Assume Owl's taxable the following donations to qualified charitable what happens to any excess charitable contributions, if any? Adjusted Fair Market Basis Value $10,000 $15,000 Children's clothing held as inventory, to Haven for Hope Stock in Exxon Corporation acquired two years ago and held as003,000 an investment, to City University Land acquired four years ago and 50,000 75,000 eheld as an investment, to Humane Society Page 4 of7