second picture is how the professor answered

and an expert appraiser valued them at $7,000 on the day of the gift. 11-38 Contribution Deductions --Percentage Limitations. I contributed $10,000 to the University of Southern California and a long-term capital asset worth $10.000 (ba sis of $5,000) to a private nonoperating foundation during 2019. Assuming his adjusted gross income for the year is $24,000, answer the following: a. What is the amount of J's contribution deduction for 2019? b. How must any excess contributions be treated? If I had come to you for advice before making the gifts, what advice would you have offered? c. Problem 11-38 . (a.)Contribution amounts $10,000 to USC and $5,000 A.B. to nonoperating foundation. 60% of AGI ceiling on cash to USC is $14,400 and 50% of AGI ceiling on other contribution is $12,000. Result: $10,000 to USC deducted but $5,000 given to private foundation limited to $2,000 left of 50% of AGI ceiling of $12,000 (this is lower than 20% of AGI of $4,800) after the USC contribution is subtracted. Total deduction for 2019 is $12,000 with $3,000 carryover for 5 years subject to the 20% of AGI ceiling