True or false?

1 answer:

8 0

West African countries along with many other developing countries have borrowed large sums of money from the World Bank and International Monetary Fund. These funds have become major lenders for development projects and for developing countries around the world.

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Ariana and John, who file a joint return, have two dependent children, Kai and Angel. Kai is a freshman at State University and

mihalych1998 [28]

The amounts and types of education tax credits that Ariana and John can take without modified AGI limitation are as follows:

Amount of Education Tax Type of Education Tax Credits

For Kai $1,000 ($2,500 x 40%) The American Opportunity Credit

For Angel $1,560 ($7,800 x 20%) The Lifetime Learning Credit

Total tax credit = $2,560 ($1,000 + $1,560)

<h3>What are the American Opportunity Credit and the Lifetime Learning Credit?</h3>

Whereas the American Opportunity Credit (Kia's) covers only the first 4 years of post-secondary education at 40% of $2,500 per student because Kia is a half-time student, the Lifetime Learning Credit applies to graduate schooling (Angel's) and covers 20% of the first $10,000 paid for tuition.

We must note that no taxpayer can claim both the American Opportunity Credit and the Lifetime Learning Credit for the same student in the same tax year.

Thus, the total education tax credit that Ariana and John can claim for both Kai and Angel is $2,560.

Learn more about education tax credits at brainly.com/question/8166956

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2 years ago

Which economic system best defines: Lowest amount of economic freedom?

Dafna11 [192]

Answer:

command economy

Explanation:

In a command economy, the government is the only determinant of what is to be produced, its quantity, and price. All the factors of production belong to the government. The government or the central authority creates a central plan that guides all country's economic activities and decisions.

The private sector is absent in a command economy. The government is the only employer. Citizens do not have the freedom to choose what to buy, but rather what is available.

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3 years ago

The Southern Corporation manufactures a single product and has the following cost structure: Variable costs per unit: Production

kari74 [83]

Answer: The Southern Corporation manufactures a single product and has the following cost structure:

Explanation:

Fixed costs per year: Production$98,770 Selling and administrative$86,920 Last year, 5,810 units were produced and 5,610 units were sold. There was no beginning inventory. The carrying value on the balance sheet of the ending inventory of finished goods under variable costing would be:

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3 years ago

Department stores are most likely characterized by ________. Group of answer choices wide varieties of product lines predatory p

AURORKA [14]

Answer:

brands specialty

Explanation:

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4 years ago

Von hayek's kayaks can borrow $12,500 for 60 days at a cost of $220 interest. what is the effective rate of interest?

Lyrx [107]

<span>The principal amount is $12,500. From the above statement the interest for two months is $220. And the annual interest is 1320. This is 10.56% of the principal amount. So the rate of interest in 10.56</span>

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3 years ago