Super Corporation gives a painting to a museum for public display on August 6. The painting was purchased on April 3 of the same year for $20,000 and is worth $30,000 at the date of gift. Also, Super accrues a charitable contribution on December 30 and pays the $12,000 contribution on February 1 of the next year. Super Corporation is a calendar- year corporation that uses the accrual method of accounting. Before considering the 10% limitation rule, the maximum deduction for the current year is
A) $20,000.
B) $32,000.
C) $12,000.
D) $30,000.

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The Answer of Super Corporation gives a painting to a museum for public display on August 6. The painting was purchased on April 3 of the same year for $20,000 and is worth $30,000 at the date of gift. Also, Super accrues a charitable contribution on December 30 and pays the $12,000 contribution on February 1 of the next year. Super Corporation is a calendar- year corporation that uses the accrual method of accounting. Before considering the 10% limitation rule, the maximum deduction for the current year is

Super Corporation Gives a Painting to a Museum for Public