A nongovernmental, not-for-profit organization received the following donations of corporate stock during the year: Donation 1 Donation 2 Donation 3 Number of shares 2,000 3,000 1, 000 Adjusted basis $8,000 $5,500 $3,000 Fair market value at time of donation 8,500 6,000 $4,000 Fair market value at year end 10,000 2,000 $2,500 What net value of investments will the organization report at the end of the year?
A nongovernmental, not-for-profit organization received the following donations of corporate stock during the year:
Donation 1 Donation 2 Donation 3
Number of shares 2,000 3,000 1, 000
Adjusted basis $8,000 $5,500 $3,000
Fair market value at time of donation 8,500 6,000 $4,000
Fair market value at year end 10,000 2,000 $2,500
What net value of investments will the organization report at the end of the year?
A.) $14,500
B.) $14,000
C.) $13,500
D.) $12,000
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