Dean makes a pledge of $30,000 to a local college. The college is willing to accept either cash or marketable securities in fulfillment of the pledge. Dean owns stock in Ajax Corporation worth $30,000. The stock was purchased five years ago for $10,000. Dean’s marginal tax rate is 35% and he is subject to the long-term capital gains rate of 15%. Should Dean sell the stock and then donate the cash, or should he donate the stock directly? Compute the net tax benefit from each alternative and explain the difference. (Ignore the 3.8% tax on the net investment income of high-income taxpayers for this comparison.)