Kiss Co. donated inventory with an adjusted basis of $50,000 and a $78,000 fair market value to a qualified public charity, which will use the inventory for the care of the ill and needy. It also donates stock, that it bought a couple of years ago as an investment, with an adjusted basis of $26,000 and a $40,000 fair market value to another qualified public charity. What is Kiss Co's charitable deduction, (assuming Kiss Co. is not limited by its taxable income)?

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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.