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The clothes have a fair market value of 200000 and a basis

Question - A clothing manufacturing corporation donates last year's inventory to the Red Cross for use in its disaster relief efforts. The clothes have a fair market value of $200,000 and a basis to the corporation of $75,000. What is its charitable contribution deduction?

$200,000

$150,000

$137,500

$75,000

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Accounting Basics: The clothes have a fair market value of 200000 and a basis

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Accounting Basics: The clothes have a fair market value of 200000 and a basis

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