Exercise $3-27($Algorithmic$)($LO$.1)$

Compute the charitable contribution deduction $($ignoring the percentage limitation$)$ for each of the following corporations.

If required, round your answers to nearest dollar.

a$.$ Amber Corporation donated inventory of clothing $($basis of $$63,500,$ fair market value of $$79,375)$ to a qualified charitable organization that operates homeless shelters.

$$

b$.$ Brass Corporation donated stock held as an investment to Western College $($a qualified organization$),$ Brass acquired the stock three years ago for $$150,000,$ and the fair market value on the date of the contribution is $$240,000.$ Western College plans on selling the stock.

c$.$ Ruby Corporation donates a sculpture held as an investment and worth $$206,400$ to a local museum $($a qualified organization$),$ which exhibits the sculpture. Ruby acquired the sculpture four years ago for $$82,560.$

$