Business, 17.10.2019 22:20 michellen2020
Aclothing manufacturer contributes men's clothing with a fmv of $4,000 to a public charity. the charity will use the clothing for the care of the ill and needy, which is consistent with its intended purpose. the corporation's basis in the clothing is $800. the charitable contribution for the clothing equals:
a. $800.
b. $4,000.
c. $1,600.
d. $3,200.
e. $2,400.
Answers: 2
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Aclothing manufacturer contributes men's clothing with a fmv of $4,000 to a public charity. the char...
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