Joseph Thompson is president and sole shareholder of Jay Corporation. In December 2018, Joe asks your advice regarding a charitable contribution he plans to have the corporation make to the University of Maine, a qualified public charity. Joe is considering the following alternatives as charitable contributions in December 2018:

                                                                                                                                    Fair Market Value

(1) Cash donation .....................................................................................................  $200,000
(2) Unimproved land held for six years ($ 110,000 basis) ...................................    200,000
(3) Maize Corporation stock held for eight months ($ 140,000 basis) ...............    200,000
(4) Brown Corporation stock held for nine years ($360,000 basis) ....................    200,000
Joe has asked you to help him decide which of these potential contributions will be most advantageous tax-wise. Jay Corporation's taxable income is $3.5 million before considering the contribution. Rank the four alternatives and write a letter to Mr. Thompson communicating your advice. The corporation's address is 1442 Main Street, Freeport, ME 04032.