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Radda [10]
3 years ago
15

Paola and Isadora Shaw are married, file a joint tax return, and have one dependent child, Dante. The Shaws report modified AGI

of $139,220. The couple paid $14,970 of tuition and $8,610 for room and board for Dante, a full-time first-year student at Serene College and claimed as a dependent by Paola and Isidora.
Required:
Determine the amount of the Shaws' American Opportunity credit for the year.
Business
1 answer:
Triss [41]3 years ago
6 0

Answer: $2500

Explanation:

The American opportunity tax credit has to do with the expenses which is paid on qualified education for a student who's eligible and this is typically for the first four years.

A maximum annual credit of $2,500 can be gotten per eligible student. Since the modified AGI of $139,220 is less than $180000 which is the limit, then they'll be eligible for $2500.

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Andrea owed $12,000 on a medical bill to University Hospital. The hospital agreed to discharge the debt due to Andrea's financia
alexandr402 [8]

Answer:

$7,000

Explanation:

Data provided in the question:

Amount owed by Andrea on a medical bill to university hospital = $12,000

Amount by  which the Andrea's debt exceeded her assets = $5,000

Now,

The debt forgiveness that Andrea will need to include in her gross income will be

= Amount owed on a medical bill - The amount by which debt exceeded assets

= $12,000 - $5,000

= $7,000

8 0
4 years ago
The Extroversion-Introversion criterion defines:
bagirrra123 [75]
B). <span> the source and direction of energy expression for a person
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5 0
3 years ago
Mark is refinishing an antique china cabinet and has already spent $180 on the restoration. He expects to be able to sell the ca
prisoha [69]

Answer:

He should complete the additional work and sell the cabinet for $360.

Explanation:

This is because if he is to sell for $100 without completing the additional work, he will be making a loss of $80, having spent $180.

But on completion of the additional work, he would have spent a total of $380, therefore, if he sells the cabinet for $360, he will only be making a loss of $20.

Therefore, the better option is to complete the additional work and sell for $360.

4 0
3 years ago
Zoom In, Inc. is engaged in the business of coding, with an emphasis on Internet marketing, business apps, and intra-corporate n
-BARSIC- [3]

Answer:

Option A. The U.S. Constitution.

Explanation:

The reason is that the US constitution provides the basic framework for the laws to be formulated and passed both in the US National Assembly and the Senate. The laws cannot be formulated if the US constitution doesn't allows the passing of the law which means that the constitution must be amended first. When the slavery was to be eliminated in 1865, the first problem was that passing the elimination of slavery law was inconflict with the US constitution. So the constitution was amended before passing the law to eliminate the conflict.

In the nutshell, every law originates because of different reasons like Technological reasons, Social reasons, Cultural reason, etc) but the basis remains the same which is US constitution which is the basic framework for passing the law.

8 0
3 years ago
At the price of $5 per pack of batteries, Duracell sells 10,000 packs of batteries and Energizer sells 15,000 packs of batteries
Verdich [7]

Answer:

28,000

Explanation:

To get this answer you have to assume perfect competition scenario, since in this case supply = demand. In this case:

At $7,5

Energizer sells 16,000 => Supply Energizer = 16,000

Duracell sells 12,000 => Supply Duracell = 12,000

Total Supply = 16,000+12,000

6 0
3 years ago
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