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3. Colby is actively involved with supporting his alma mater. In 2004, Colby contributed $11,000 of highly appreciated securities, $20,000 cash to an Endowment Appeal, and 100 hours of his time normally billed at $200/hour. If no further charitable contributions are made in 2004, what is the total value of Colby’s charitable contributions for the year?,A. $20,000,B. $31,000,C. $51,000,D. Cannot determine since we have no information on Colby’s AGI. ,