Exercise 3-26 (Algorithmic) (LO. 1) Compute the charitable contribution deduction (ignoring the percentage limitation) for each of the following C corporations. If required, round your answers to nearest dollar.

a. Amber Corporation donated inventory of clothing (basis of $58,500, fair market value of $73,125) 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 $64,800, and the fair market value on the date of the contribution is $103,680. Western College plans on selling the stock.

c. Ruby Corporation donates a sculpture held as an investment and worth $161,600 to a local museum (a qualified organization), which exhibits the sculpture. Ruby acquired the sculpture four years ago for $64,640.