Margaret Lindley paid $15,090 of interest on her $300,900 acquisition debt for her home (fair market value of $500,900), $4,090 of interest on her $30,090 home-equity loan, $1,090 of credit card interest, and $3,090 of margin interest for the purchase of stock. Assume that Margaret Lindley has $10,090 of interest income this year and no investment expenses. How much of the interest expense may she deduct this year?

Garfield corporation is considering building a new plant in canada. it predicts sales at the new plant to be 50,000 units at $5.00/unit. below is a listing of estimated expenses. category total annual expenses % of annual expense that are fixed materials $50,000 10% labor $90,000 20% overhead $40,000 30% marketing/admin $20,000 50% a canadian firm was contracted to sell the product and will receive a commission of 10% of the sales price. no u.s. home office expenses will be allocated to the new facility. the contribution margin ratio for garfield corporation is