Jim is planning to make a charitable contribution to a local university, a qualifying charitable organization. He is going to contribute a piece of real estate that he has owned for six years. The fair market value of the property is $$80,000,$ and his basis in it is $$55,000.$ He has an AGI of $$120,000.$

Jim wants to maximize the amount of charitable contribution deductions from the donation of the real estate. What is the amount of charitable contribution deduction that Jim may claim in the current year

a$)$

$$36,000$

b$)$

$$40,000$

c$)$

$$55,000$

d$)$

$60,000$