Incremental Cash Flows

Incremental Cash Flows. A corporation donates a valuable painting from its private collection to an art museum. Which of the following are incremental cash flows associated with the dona-tion? (LO9-1)

a.  The price the firm paid for the painting

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b.  The current market value of the painting

c.  The deduction from income that it declares for its charitable gift

d.  The reduction in taxes due to its declared tax deduction