use 2013 rate Identify the letter of the choice that best completes the statemen

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use 2013 rate

Identify the letter of the choice that best completes the statement or answer the question. there are 18 multiple choice question you will be graded on 17. Each question is worth 3.5 pts. Assume that Larry's marginal tax rate is 25%. If corporate bonds pay 10% interest, what interest rate would a municipal bond have to offer for Larry to be indifferent between the two bonds? 25% 12.5% 10% 7.5% None of these max paid $5,000of tuition for him to attend a private university this year. How much of this payment can Mason deduct as a qualifying education expense if he files single and reports modified AGI of $60,000? $5,000 $4,000 $2,000 $0 None of these. pam recently was sickened by eating spoiled peanut butter. she successfully sued the manufactured for her medical bills ($3,700), her emotional distress ($6,000 - she now fears peanut butter), and punitive damages ($44,000). What amount must Pam include in her gross income? $44,000 $50,000 $47,700 $9,700 Zero - none of these benefits is included in gross income

Explanation / Answer

1)c

i.e 10%-10%*25%=7.5%

2)A

i.e $5000

3)B

i.e 44000+6000=50000

4)D

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