•doreen has no special circumstances.
• sanja is paying a mortgage on a condominium. she paid $8,000 in mortgage interest and $950 in property tax during the tax year.
• ben bought new energy-efficient windows.
doreen sanja ben
gross income: 36,400 36,400 36,400
adjusted gross income: 36,400 36,400 36,400
deductions: 5,700 8,950 5,700
exemptions 3,650 3,650 3,650
taxable income 27,050 23,800 27,050
tax 3,635 3,155 3,635
tax credits 0 0 1,300
total federal income tax 3,635 3,155 2,335
1. which taxpayer received a tax credit that lowered the tax due?
2. (a) what was the value of that tax credit? (b) how did the taxes that taxpayer owed compare to the taxes owed by doreen? (c) based on these examples, which is better for a taxpayer—a deduction or a tax credit? why?
3. (a) which taxpayer itemized deductions? how can you tell? (b) what was the impact of itemizing on that taxpayer’s taxes?

Jose recently died with a probate estate of $900,000. he was predeceased by his wife, guadalupe, and his daughter, lucy. he has two surviving children, pete and fred. jose was also survived by eight grandchildren, pete’s three children, naomi, daniel, nick; fred’s three children, heather, chris and steve; and lucy’s two children, david and rachel. jose’s will states the following “i leave everything to my three children. if any of my children shall predecease me then i leave their share to their heirs, per stirpes.” which of the following statements is correct? (a) under jose’s will rachel will receive $150,000. (b) under jose’s will chris will receive $150,000. (c) under jose’s will nick will receive $100,000. (d) under jose’s will pete will receive $200,000.

Which of the following has the largest impact on opportunity cost

The east asiatic company (eac), a danish company with subsidiaries throughout asia, has been funding its bangkok subsidiary primarily with u.s. dollar debt because of the cost and availability of dollar capital as opposed to thai baht-denominated (b) debt. the treasurer of eac-thailand is considering a 1-year bank loan for $247,000.the current spot rate is b32.03 /$, and the dollar-based interest is 6.78% for the 1-year period. 1-year loans are 12.04% in baht.a. assuming expected inflation rates of 4.3 % and 1.24% in thailand and the united states, respectively, for the coming year, according to purchase power parity, what would the effective cost of funds be in thai baht terms? b. if eac's foreign exchange advisers believe strongly that the thai government wants to push the value of the baht down against the dollar by5% over the coming year (to promote its export competitiveness in dollar markets), what might the effective cost of funds end up being in baht terms? c. if eac could borrow thai baht at 13% per annum, would this be cheaper than either part (a) or part (b) above?