Aquamarine Corporation, a calendar year C corporation, makes the following donations to qualified charitable organizations during the current year: Adjusted Basis Fair Market Value Painting held four years as an investment, to a church, which sold it immediately $6,000 $10,000 Apple stock held two years as an investment, to United Way, which sold it immediately 15,750 35,000 Canned groceries held one month as inventory, to Catholic Meals for the Poor 2,520 4,200 Determine the amount of Aquamarine Corporation's charitable deduction for the current year. (Ignore the taxable income limitation.) Painting: The amount of the contribution is . Stock: The amount of the contribution is . Groceries: The amount of the contribution is . Therefore, the total charitable contribution is $fill in the blank 4. Feedback Area please do not provide solution in image format thank you!
Aquamarine Corporation, a calendar year C corporation, makes the following donations to qualified charitable organizations during the current year: Adjusted Basis Fair Market Value Painting held four years as an investment, to a church, which sold it immediately $6,000 $10,000 Apple stock held two years as an investment, to United Way, which sold it immediately 15,750 35,000 Canned groceries held one month as inventory, to Catholic Meals for the Poor 2,520 4,200 Determine the amount of Aquamarine Corporation's charitable deduction for the current year. (Ignore the taxable income limitation.) Painting: The amount of the contribution is . Stock: The amount of the contribution is . Groceries: The amount of the contribution is . Therefore, the total charitable contribution is $fill in the blank 4. Feedback Area
please do not provide solution in image format thank you!
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