Compute the charitable contribution deduction (ignoring the percentage limitation) for each of the following C...
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Accounting
Compute the charitable contribution deduction (ignoring the percentage limitation) for each of the following C corporations.
If required, round your answers to nearest dollar.
a. Amber Corporation donated inventory of clothing (basis of $31,000, fair market value of $38,750) to a qualified charitable organization that operates homeless shelters. What is the charitable contribution deduction??
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