Ruby Company, a clothing retailer, donates children's clothing to Salvation Army (a qualified charity). The clothing is part of Ruby's inventory and has an adjusted basis of $100,000 and a fair market value of $180,000. What is the amount of Ruby's charitable donation if it is a:
a.Partnership?
b.Corporation?

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The Answer of Ruby Company, a clothing retailer, donates children's clothing to Salvation Army (a qualified charity). The clothing is part of Ruby's inventory and has an adjusted basis of $100,000 and a fair market value of $180,000. What is the amount of Ruby's charitable donation if it is a:
a.Partnership?
b.Corporation?

Ruby Company, a Clothing Retailer, Donates Children's Clothing to Salvation