Nine Corporation contributes inventory (computers) to State University for use in its mathematics program. The computers have a $750 cost basis and a $2,100 FMV. How much is Nine's charitable contribution deduction for the computers? (Ignore the 10% limit.) (Round your answers to the nearest whole dollar.) Deduction if the property qualifies as scientific research property under Sec. 170(e)(4): Deduction if the property does not qualify as scientific research property:

Nine Corporation contributes inventory (computers) to State University for use in its mathematics program. The computers have a $750 cost basis and a $2,100 FMV. How much is Nine's charitable contribution deduction for the computers? (Ignore the 10% limit.) (Round your answers to the nearest whole dollar.) Deduction if the property qualifies as scientific research property under Sec. 170(e)(4): Deduction if the property does not qualify as scientific research property:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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