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ExtremeBDS [4]
3 years ago
11

Bob and Sally are married, file a joint tax return, report AGI of $120,000, and have two children. Del is beginning her freshman

year at State College during fall 2019, and Owen is beginning his senior year at Southwest University during fall 2019. Owen completed his junior year during the spring semester of 2018 (i.e., he took a "leave of absence" during the 2018-2019 school year). Both Del and Owen are claimed as dependents on their parents’ tax return.​Del’s qualifying tuition expenses and fees total $5,000 for the fall semester and Owen’s qualifying tuition expenses were $6,100 for the fall 2019 semester. Del’s room and board costs were $3,200 for the fall semester. Owen did not incur room and board costs because he lived with his aunt and uncle during the year.Full payment is made for the tuition and related expenses for both children at the beginning of each semester. In addition to the children’s college expenses, Bob also spent $3,000 on professional education seminars during the year in order to maintain his license as a practicing dentist. Bob attended the seminars during July and August 2019. Compute the available education tax credits for Bob and Sally for 2019.A. $3,100B. $5,000C. $5,480D. $5,600
Business
1 answer:
ch4aika [34]3 years ago
6 0

Answer:

B) $5,000

Explanation:

Bob and Sally can claim an American Opportunity (AO) credit for both of their children, Del and Owen.

Del's AO credit is $2,500 (100% of  the initial $2,000 qualifying expenses and 25% of the next $2,000 qualifying expenses).

Owen's AO credit is the same as Del's, $2,500.

The total American Opportunity credit claimed is $5,000 ($2,500 + $2,500)

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Here and After Corporation plans a new issue of preferred stock. Similar risk stock currently offers an annual return to investo
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Explanation:

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2 years ago
Pepsi True is a new cola from Pepsi-Cola that is sweetened with a combination of sugar and stevia leaf extract, resulting in a s
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mid-calorie soft drinks such as Pepsi Next (2012) have not been successful in the past.

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The new Pespsi true is a great product that offers the advantage of having the same flavor as Pepsi but lower calorie content of only 60 calories. This should sell well with consumers that are looking for lower calorie options.

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7 0
3 years ago
Suppose that the world price of oil is $70 per barrel and that the United States can buy all the oil it wants at this price. Sup
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Answer:

The supply and demand curves for the United States are shown in the graphs attached.

Explanation:

Free trade in oil implies that a country in the international oil market can import as much oil as it wants and export as much oil as it wants.

The costs of demand and the revenues obtained in each case are given below:

QD1 cost = 68 × 70 = $4,760

QS1 revenue = 16 × 70 = $1,120

QD2 cost = 470 × 70 = $32,900

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Find the graph attachments.

7 0
3 years ago
NO LINKS
Rom4ik [11]
Consumer demand, Opportunity cost
7 0
2 years ago
Read 2 more answers
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