Mae donated stock in Eagle Corporation (a publicly traded corporation) to her church

Mae donated stock in Eagle Corporation (a publicly traded corporation) to her church. The stock was worth $60,000

and had been acquired as an investment three years ago at a cost of $50,000. Mae had AGI of $100,000 in the year she made the donation. Mae does not make a “reduced deduction election.” In completing her income tax return, how much of the charitable contribution can Mae deduct?

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Question 46 options:

a) 

$30,000.

b) 

$50,000.

c) 

$60,000.

d) 

$70,000.

e) 

None of the above.

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