Stanley donates a hotel to a university for use as a conference center. The building was purchased three years ago for $1,200,000 and has a fair market value of $1,500,000 on the date the contribution is made. If Stanley had sold the building, the $300,000 difference between the sales price and cost would have been a long-term capital gain. What is the amount of Stanley’s deduction for this contribution, before considering any limitation based on adjusted gross income?

a. $1,800,000

b. $1,500,000

c. $1,900,000

d. $1,200,000

e. $0