Answer: 342,000
Explanation:
200,000 + 300,000 + 20,000 = 520,000
520,000 * 40% = 208,000
520,000 - 208,000 = 312,000
312,000 + 30,000 = 342,000
Therefor your answer is 342,000
Answer:
a. $5,910
Explanation:
The computation of the deduction amount for depreciation is shown below:
= (Rental beach house - the amount of the land value) × depreciation rate
= ($900,000 - $600,000) × 1.97%
= $300,000 × 1.97%
= $5,910
Refer to the depreciation table and we assume the year would be 1 and the recovery period is 19 years is 1.97%
Answer:
<u>A</u>
<u>Explanation</u>:
Remember, in economics the term equilibrium implies that this terms
- price and,
- quantity demanded
<u>are all equal or in a state of stability.</u>
Therefore, the stock in such an equilibrium market would yield it expected returns since there are no external factors such as increase in price that could affect the value.
Assuming Reggie who is 55, had an adjusted gross income of $32,000 in 2020, Reggies medical expense deduction will be $75
Calculation to determine Reggie medical expense deduction
Drugs $500
Add Health insurance premium-after tax $850
Add Doctors fees $1,250
Add Eye glasses $375
Total expenses $2,975
($500+$850+$1,250+$375)
Less Insurance reimbursement ($500)
Less 7.5% of Adjusted gross income ($2,400)
($32,000×7.5%)
Medical Expense Deduction $75
($2,975 - $500 - $2,400)
Inconclusion assuming Reggie who is 55, had an adjusted gross income of $32,000 in 2020, Reggies medical expense deduction will be $75
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