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