Carl Purchased a Machine for Use in His Trade or Business

question 43

Multiple Choice

Carl purchased a machine for use in his trade or business two years ago for $30,000.During the current year,Carl donates the machine to the local community college.At the time of the contribution,the machine's adjusted basis is $10,000 and its FMV is $15,000.Carl's AGI for the year is $48,000.What is the amount of his charitable contribution deduction?

• A)$10,000
• B)$14,000
• C)$15,000
• D)$25,000

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Definitions:

Behaviours

Pertains to the actions or reactions of individuals or groups in response to external or internal stimuli.

Skills

Refers to the abilities and expertise that individuals possess, which enable them to perform specific tasks effectively.

Career Planning

The ongoing process of setting personal career goals and designing a path to achieve them, often involving considerations of required skills, education, and training.

Motivation

The process that initiates, guides, and maintains goal-oriented behaviors, often discussed in the context of employee productivity and satisfaction.