Problem $2(10$ points$)$

In $2023,$ Darcy made the following charitable contributions:

Donee Property Cost FMV

State University IBM stock $ $15,000$ $ $10,500$

Salvation Army Clothes $2,500500$

State Art Museum Painting $5,00045,000$

City Hospital Cash $8,000$

Required

Determine the maximum amount of charitable deduction for Darcy$$s contribution of the

painting if her AGI is $$80,000$ this year. You may assume that both the stock and painting

have been owned for $10$ years and the painting is used in the State Art Museum$$s charitable

purpose.