Charitable contribution deduction prolem


Prior to a charitable gift to the Plato University of land with a basis of $6,000 and a value of $13,000, All-Set, Inc. had taxable income of $50,000. If the dividends-received deduction was $80,000, the charitable contribution deduction is:

a. $5,000

b. $6,000

c. $2,925

d. $5,800

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Accounting Basics: Charitable contribution deduction prolem
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