1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mel-nik [20]
4 years ago
5

Jeffery and Cassie, who are married with modified AGI of $90,000, are sending their son to his first year of college. Their tota

l tuition and related payments during 2019 amounted to $5,500. Theyhave not taken advantage of any other type of tax benefit related to educational expenses. Their American Opportunity Tax Credit for 2019 isA. $5,000.
B. $2,500.
C. $2,000.
D. $1,500.
Business
1 answer:
Nezavi [6.7K]4 years ago
3 0

Answer: B. $2,500

Explanation:

The American opportunity tax credit (AOTC) is a tax credit benefit for parents and Guardians to paying tuition on Qualified students.

A maximum of $2,500 in credit can be acquired per eligible student and to qualify for this maximum, a married couple filing together must have a Modified Adjusted Gross Income (MAGI) of less than $160,000.

With a modified AGI of $90,000, Jeffery and Cassie are below the threshold and qualify for the full figure.

You might be interested in
What is the role of mining in a business​
Helen [10]
This process of discovering and analyzing business data in order to group multiple users and access rights under one business or technical role candidate is called Role Mining or Role Discovery.

orrr

People just keep meddling in other peoples problems and they going to get karma!
7 0
2 years ago
Read 2 more answers
Does accounts receivable go on the income statement.
Olin [163]

Answer:

no they are balance sheet items

Explanation:

5 0
3 years ago
An annual reporting period consisting of any twelve consecutive months is known as:________.1. Calendar year2. Natural business
11111nata11111 [884]

Answer:

4. Fiscal year

Explanation:

Reporting period refers to the period or time covered by a set of financial statements. It is the accounting period in which a given financial report will be covered. It may either be monthly, quarterly or yearly depending on organization's choice.

Now, fiscal year is an accounting period or reporting period that consist of 12 month used for accounting purposes. It is a yearly reporting period made up of 12 consecutive months. It may or may not correspond to the normal calendar year depending on the organization's choice or decision.

3 0
3 years ago
g Peng Company is considering an investment expected to generate an average net income after taxes of $2,700 for three years. Th
nikdorinn [45]

Answer:

Net Present value = -$40,221

Explanation:

The net present value is the sum of the discounted cash-flows over the life of the project from t=0 to t=n.

Year  Cash-flow PVIF       Present Value

0           (55,500)   1.0000    (55,500)

1               2,700    0.9091       2,455  

2              2,700    0.8264      2,231  

3              2,700    0.7513       2,029  

3             11,400     0.7513       <u>8,565  </u>

        Net Present value       (40,221)

The salvage value is treated as a cash-flow at the end of year 3 as that's the last year in which the project records a cash inflow. In this question, a negative net present value implies that the project is not profitable, and should therefore not be undertaken.

6 0
3 years ago
Opportunity cost is defined as the: a. ​value of all alternatives not chosen. b. ​difference between the benefits from a choice
Whitepunk [10]

Answer:

The correct answer is letter "C": value of the best alternative not chosen

Explanation:

Opportunity costs represent the return of the option chosen compared to the options that were forgone. <em>It can also be described as the return of the next best available option after having selected one</em>. Opportunity costs help individuals to find out what they "left on the table" after taking a certain decision.

5 0
3 years ago
Other questions:
  • The HNH Corporation will pay a constant dividend of $ 2.00$2.00 per​ share, per​ year, in perpetuity. Assume all investors pay a
    12·1 answer
  • Item I51 is used in one of Policy Corporation's products. The company makes 18,000 units of this Item each year. The company's A
    13·2 answers
  • Which of the following represents the components of the income statement for a merchandising business?
    5·1 answer
  • What would a frog do if he could not find scissors to cut a coupon out of the newspaper?
    12·1 answer
  • Assume that product Alpha and product Beta are both priced at $1 per unit and that Ellie has $20 to spend on Alpha and Beta. She
    8·1 answer
  • A 60-year old man wants to trade in and out of the market on a daily basis. He has the investment objectives of income and capit
    10·1 answer
  • In a limited partnership:
    12·1 answer
  • Bramble Corp. will receive $18500 today (January 1, 2020), and also on each January 1st for the next five years (2021 – 2025). W
    7·1 answer
  • The normal-form game box below outlines a generic game for two players to illustrate basic principles. Each player has two strat
    8·1 answer
  • pAn office building owner agrees to buy a minimum of 270 chairs and up to 440 chairs from a supplier. The price will be $85 per
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!