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What is the deductible amount of the gift

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In February of the current year, Brent Corporation donates food from its inventory for the care disaster victims. The donated property had a $200,000 adjusted basis to Brent and a $300,000 FMV. What is the deductible amount of the gift?

a. $200,000
b. $250,000
c. $275,000
d. $300,000

Reference no: EM131765363

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