Hannah Makes the Following Charitable Donations in the Current Year

question 36

Multiple Choice

Hannah makes the following charitable donations in the current year:
The HBM stock and the inventory were given to Hannah's church, and the baseball card collection was given to the United Way. Both donees promptly sold the property for the stated fair market value. Disregarding percentage limitations, Hannah's current charitable contribution deduction is:

• A) $28,000.
• B) $51,200.
• C) $52,000.
• D) $67,200.
• E) None of the above.

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Definitions:

Apparent Authority

Apparent authority refers to a situation where a person appears to have the agent's authority to act on behalf of another (the principal) due to the principal's actions, leading third parties to believe in the existence of such authority.

Manager

An individual responsible for controlling or administering all or part of a company or similar organization.

Contracts

Legal agreements between two or more parties that are enforceable by law.

Unauthorized Acts

Actions taken without the necessary permission or authority, often violating agreements or laws.