Karen, a Calendar Year Taxpayer, Made the Following Donations to Qualified

Multiple Choice

Karen, a calendar year taxpayer, made the following donations to qualified charitable organizations during the year: $\begin{array}{lcr} & \underline{\text { Basis }} & \frac{\text { FairMarket }}{\underline{\text { Value }}} \\\text { Cash donation to State University } & \$ 30,000 & \$ 30,000 \\\text { Unimproved land to the City of Terre Haute, IN } & 70,000 & 210,000\end{array}$
The land had been held as an investment and was acquired four years ago.Shortly after receipt, the City of Terre Haute sold the land for $210,000.Karen's AGI is $450,000.The allowable charitable contribution deduction this year is:

A) $100,000.
B) $165,000.
C) $225,000.
D) $240,000.
E) None of these.