Don's Records Contain the Following Information: 1

question 11

Multiple Choice

Don's records contain the following information: 1.Donated stock having a fair market value of $3,600 to a qualified charitable organization.He acquired the stock five months previously at a cost of $2,400.
2) Paid $700 to a church school as a requirement for the enrollment of his daughter.
3) Paid $200 for annual homeowner's association dues.
4) Drove 400 miles in his personal auto at 14 cents per mile.The travel was directly related to volunteer services he performed for his church (actual costs were not available) .
What is Don's charitable contribution deduction?

• A)$2,456
• B)$3,156
• C)$3,356
• D)$3,656

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Definitions:

Marginal Utility

The additional satisfaction or utility gained from consuming an extra unit of a good or service.

Total Utility

The overall satisfaction or benefit a consumer receives from consuming a certain quantity of a good or service.

Marginal Utility

The additional satisfaction or benefit gained from consuming one more unit of a good or service.

Money Income

The total amount of monetary earnings or receipts a person or household receives within a specific period.