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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 $38,500, fair market value of $48,125) to a qualified charitable organization that operates homeless shelters. 24062 X Feedback Check My Work Both corporate and individual taxpayers may deduct charitable contributions if the recipient is a qualified charitable organization. Generally, a charitable contribution of property results in a deduction equal to the property's fair market value at the date of the gift