Zeke Made the Following Donations to Qualified Charitable Organizations During

question 74

Multiple Choice

Zeke made the following donations to qualified charitable organizations during the year: $\begin{array}{c}\begin{array}{lll}\text {Used clothing of taxpayer and his family (all acquired}\\\text { more than a year ago) }\\\text {Stock in ABC, Inc., held as an investment for 15 }\\\text {months}\\\text {Stock in MNO, Inc., held as an investment for 11}\\\text { months}\\\text {Real estate held as an investment for two years}\end{array}\begin{array}{lll}\text {Basis}&\text { Fair Market Value}\\ \$ 1,350 &\$375\\\\12,000&10,875\\\\15,000&18,000\\\\15,000&30,000\end{array}\end{array}$
The used clothing was donated to the Salvation Army? the other items of property were donated to Eastern State University.Both are qualified charitable organizations.Disregarding percentage limitations, Zeke's charitable contribution deduction for the year is:

• A)$43,350.
• B)$56,250.
• C)$59,250.
• D)$60,375.
• E)None of these.

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Definitions:

Marginal Product

Marginal product is the additional output a firm gains from employing one more unit of input, holding all other inputs constant.

Labor

The human effort, either physical or mental, that is used in the production process to generate goods or services.

Marginal Product

The rise in production resulting from the use of one more unit of input.

Coffee House

A place that primarily serves coffee and other beverages, and which often serves as a gathering place for community interaction or relaxation.