Terrell, a Calendar Year Taxpayer Subject to a 35% Marginal

Terrell, a calendar year taxpayer subject to a 35% marginal tax rate, claimed a charitable contribution deduction in 2009 of $15,000 for a sculpture that the IRS later valued at $8,000.The applicable overvaluation penalty is:

A) $0.
B) $100 (minimum penalty) .
C) $420.
D) $2,100.
E) None of the above.