Karen,a Calendar Year Taxpayer,made the Following Donations to Qualified Charitable

Multiple Choice

Karen,a calendar year taxpayer,made the following donations to qualified charitable organizations during the year:
Basis
Fair Market Value
Cash donation to State University
$30,000
$ 30,000
Unimproved land to the City of Terre Haute,Indiana
70,000
210,000
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The land had been held as an investment and was acquired 4 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 the above.