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Grocer Services Corporation (a calendar year taxpayer), a wholesale distributor of food, made the following donations to qualified charitable organizations during the year:
Adjusted Basis
Fair Market Value
Food (held as inventory) donated to the Ohio Children's Shelter
$3,500
$8,000
Passenger van to Ohio Children's Shelter, to be used to transport children to school
7,500
7,100
Stock in Acme Corporation acquired 7 months ago and held as an investment, donated to Southwest University
4,000
6,200
How much qualifies for the charitable contribution deduction?
a. $15,000. b. $16,850. c. $17,250. d. $19,450. e. None of the ab
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