In February of the Current Year, Brent Corporation Donates Computer

question 6

Multiple Choice

In February of the current year, Brent Corporation donates computer equipment that it purchased six months ago to Eastside High School for use in its educational program. The donated property had a $20,000 adjusted basis to Brent and a $40,000 FMV. What is the amount of the gift?

• A)$20,000
• B)$30,000
• C)$35,000
• D)$50,000

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Definitions:

Psychoticism

A personality pattern typified by aggressiveness and interpersonal hostility, related to the liability to have psychotic thinking or experiences.

Agreeableness

A personality trait characterized by attributes such as trust, altruism, kindness, affection, and other prosocial behaviors.

Conscientiousness

A personality trait characterized by diligence, carefulness, thoroughness, and organization.

Big Five Trait

A model that outlines five broad dimensions of human personality traits, including openness, conscientiousness, extraversion, agreeableness, and neuroticism.