Blueboy Inc. contributes inventory to a qualified charity for use in feeding the needy. The inventory has a $70,000 FMV and a $30,000 adjusted basis. Blueboy Inc. can take a charitable contribution deduction of
A) $60,000.
B) $20,000.
C) $30,000.
D) $50,000.
Correct Answer:
Verified
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