The personal articles floater (PAF) provides open-perils coverage on the property insured.

To achieve compromise, one needs to

a. avoid overt disagreement. b. value openness and trust. c. dominate the other conflicting party. d. give up something of value.

During 2017, Vincent Tally gave to the municipal art museum title to his private collection of rare books that was appraised and valued at $60,000. However, he reserved the right to the collection's use and possession during his lifetime. For 2017, he reported an adjusted gross income of $100,000. Assuming that this was his only contribution during the year and that there were no carryovers from prior years, what amount can he deduct as contributions for 2017?

a. $0 b. $30,000 c. $50,000 d. $60,000