McCain & Lejune, LLP donated equipment to FPPals. The equipment had a book value of $8,000 and fair value of $11,000. FPPats cost basis of the equipmentand the donation expense recognized by McCain &...

Extracted text: McCain & Lejune, LLP donated equipment to FPPals. The equipment had a book value of $8,000 and fair value of $11,000. FPPats cost basis of the equipmentand the donation expense recognized by McCain & Lejune are: $11,000 & 11,000, respectively. $ 8,000 & 11,000, respectively. O $11,000 & 8,000, respectively. None of the above as FPPals did not purchase the equipment.