Mary Vale contributed a bronze statuette to a local museum. Mary received the statuette as a gift from her grandmother 35 years ago, and her tax basis was only $200. However, the statue’s appraised fair market value at date of contribution was $8,500. Compute Mary’s tax savings from the contribution assuming:

a. Mary doesn’t itemize deductions on her Form 1040.

b. Mary itemizes deductions and has a 24 percent marginal tax rate.

c. Mary itemizes deductions and has a 37 percent marginal tax rate.

Assume the taxable year is 2018.