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The donated property had a 200000 adjusted basis to brent

In February of the current year, Brent Corporation donates food from its inventory for the care disaster victims. The donated property had a $200,000 adjusted basis to Brent and a $300,000 FMV. What is the deductible amount of the gift?

a. $200,000
b. $250,000
c. $275,000
d. $300,000

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Accounting Basics: The donated property had a 200000 adjusted basis to brent

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Accounting Basics: The donated property had a 200000 adjusted basis to brent

Reference No:- TGS02560875

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