In the Current Year, Plum Corporation, a Computer Manufacturer, Donated

Multiple Choice

In the current year, Plum Corporation, a computer manufacturer, donated 100 laptop computers to a local university (a qualified educational organization) . The computers were constructed by Plum earlier this year, and the university will use the computers for research and research training. Plum's basis in the computers is $35,000, and their fair market value is $120,000. What is Plum's deduction for the contribution of the computers (ignoring the taxable income limitation) ?

A) $35,000
B) $70,000
C) $77,500
D) $85,000
E) $120,000