Explain how large a deduction is it allowed

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Reference no: EM13121950

Q. Manitowoc Hardware Company, a sole proprietorship donates inventory with a fair market value of $25,000 to a public charity for the care of the ill and the needy. The company's basis in the inventory is $5,000. Explain how large a deduction is it allowed for this charitable contribution?

Reference no: EM13121950

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