Carol uses this graduated tax schedule to determine how much income tax she owes.
if taxable income is over- but not over-
the tax is:
$o
$7.825
$31,850
$64.250
$7,825
$31,850
$64.250
$97.925
10% of the amount over $0
$782.50 plus 15% of the amount over 7,825
$4,386 25 plus 25% of the amount over 31,850
$12,486 25 plus 28% of the amount over
64.250
$21.915.25 plus 33% of the amount over
97.925
$47.300.50 plus 35% of the amount over
174,850
$97.925
$174,850
$174.850
no limit
if carol's taxable income is $89,786, how much income tax does she owe, to the nearest dollar?
a. $25,140
b. $12,654
c. $19,636
d. $37,626
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6carla would like to buy a dress, a dresser for her bedroom, and a home theater system. she has one month's worth of living expenses in her emergency fund. carla decides to save for the home theater system. did carla make the right decision? why or why not? a. yes; her emergency fund is full and the other items will probably be less expensive. b. yes; she could save more for her emergency fund, but the home theater will be harder to save for. c. no; she should save more for her emergency fund because she has saved less than the recommended amount. d. no; she should have bought the dress and dresser first because she could afford them right away. reset next

Acorporation a. can use different depreciation methods for tax and financial reporting purposes b. must use the straight - line depreciation method for tax purposes and double declining depreciation method financial reporting purposes c. must use different depreciation method for tax purposes, but strictly mandated depreciation methods for financial reporting purposes d. can use straight- line depreciation method for tax purposes and macrs depreciation method financial reporting purposes

In 2015, lori assigned a paid-up whole life insurance policy to an irrevocable life insurance trust (ilit) for the benefit of her three children. the ilit contained a crummey provision for the benefit of each child. at the time of the transfer, the whole life insurance policy was valued at $200,000, and since lori had not made any other taxable gifts during her lifetime, she did not owe any gift tax. lori died in 2016, and the face value of the whole life insurance policy of $2,000,000 was paid to the ilit. regarding this transfer, how much is included in lori’s gross estate at her death?