In 2010 Gray Corporation, a calendar year C corporation has a $75k charitable contribution carryover from a gift made in 2005. Gray is contemplating a gift of land to a qualified charity in either 2010 or 2011. Gray purchased the land as an investment five years ago for $100k (current fair market value is $250k). Before considering any charitable deduction, Gray projects taxable income of $1 million for 2010 and $1.2 million for 2011. Should Gray make the gift of the land to charity in 2010 or in 2011? Provide support for your answer.