Your client, Ben McDonald, has written you about his tax situation. Please assume that gross income is $172,900 (which consists only of salary) for purposes of this problem.
December 31, 2016
Dear ***** *****, CPA:
Hi, it’s Ben McDonald again. I understand you need some more information from me in order to complete my tax return. Please let me know what information you need and I’ll be happy to provide it.
I moved this year due to taking a job at SwissLog. The move was in late January and I worked my job at SwissLog for the rest of the year. I moved 650 miles away from my old house but I still live in the same state. I left a little bit early to go on a house-hunting trip that cost me a total of $450. I hired a moving company to move our stuff at a cost of $2,300, and I drove Junior in my car. Junior and I got a hotel room along the way that cost us $65. We spent $35 on meals on the way to our new home. Oh yeah, I took my little boy to a movie on the way and that cost $20.
Can you believe I’m still paying off my student loans, even after 15 years? I paid a total of $900 in interest on my old student loans this year.
Since SwissLog (my employer) never started a retirement plan, I decided I should probably start saving for my golden years. I contributed $3,000 to what the bank referred to as a regular IRA (or was it a REM?). Oh yeah. I also did a little investing this year. I bought a limited partnership interest in IGlow, Ltd. for $10,000. I thought it was going to be a real winner, but this year they took a bath. My portion of the loss was $8,000. Well, at least I did not actually do any work for IGlow, and I get the tax deduction - right?
That should be all the information you need right now. Please calculate my adjusted gross income and complete page 1 of Form 1040. You’re still doing this for free, right?
Sincerely,
Ben
Required: calculate Ben’s AGI and complete the 1st page of the 1040 form (forms can be downloaded from the IRS website).
In: Accounting
The government of Ivarrona has put in place an advanced telecommunications network that can support upload and download speeds of 1 gigabit (roughly 100 times faster than today’s average internet speeds). They are now ready to launch a Telemedicine service that will allow physicians to reach and treat (where possible) patients that cannot reach a doctor’s physical location or a hospital easily. They are ready to roll out a special package called ‘i-MediConnect’ consisting of a laptop, a high quality digital camera and a microphone system that can be plugged into any handheld device or laptop (it can run on Windows, MacOS, Linux, etc. and works on almost all major platforms). They plan to distribute this free to all physicians and clinicians (and to hospitals) that will participate in the program. They also plan to install these in thousands of special purpose kiosks built all over the country (Ivarrona). In addition to the i-MediConnect package, these Kiosks will also have devices that can capture many important elements of patient vitals – including blood pressure, A1C levels, body temperature, etc. (assume that it can do some body fluid capture and analysis too).
The total cost of manufacturing n Kiosks by the government is given by: 100 + 2√n
The total cost of setting up m Kiosks by the government is given by: 50 + (m/4)
Answer the following questions based on the information above. Sample Question 2 (a): Only one of the following alternatives is correct. Identify the correct alternative.
A third-party company offers to manufacture and set up, up to 10,000 Kiosks for a total fixed fee of 2750 (disregard currency units). Thereafter, for additional Kiosks it will charge a combined fee (of manufacture and set up). This fee for K kiosks is given by: F(k) = 150 + (k/2). The government expects that it will need 40,000 Kiosks in all. Should the government take the third-party company up on its offer?
In: Economics
Assume the economy has a GDP of $11,500 billion. The unemployment rate is at 7.3% and has been slowly rising for the last 6 months. Inflation was at 2.3% one year ago but has since dropped to near 0%. The MPC in the economy is .80 and the Natural Rate of Unemployment is 4.5%. The target rate for inflation is 2%.
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Trace metals found in wells affect the taste of drinking water, and high concentrations can pose a health risk. Researchers measured the concentration of zinc (in milligrams/liter) near the top and the bottom of 7 randomly selected wells in a large region. The data are provided in the following table. Construct and interpret a 90% confidence interval for the true mean difference (Bottom – Top) in the zinc concentrations of the wells in this region.
| well | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| bottom | 0.24 | 0.73 | 0.45 | 0.44 | 0.31 | 0.56 | 0.49 |
| top | 0.19 | 0.64 | 0.41 | 0.37 | 0.30 | 0.53 | 0.42 |
In: Statistics and Probability
A. The electric potential at a position located a distance of 19.2 mm from a positive point charge of 7.80×10-9C and 13.0 mm from a second point charge is 1.14 kV. Calculate the value of the second charge.
B. The potential difference between two parallel conducting plates in vacuum is 590 V. An alpha particle with mass of 6.50×10-27 kg and charge of 3.20×10-19 C is released from rest near the positive plate. What is the kinetic energy of the alpha particle when it reaches the other plate? The distance between the plates is 45.0 cm.
In: Physics
Closing is subject to buyer’s inspection of property by him and his designated specialist and complete satisfaction of specialist with property condition. Aherns’s specialist inspected the property and said he thought the roof would need to be replaced in a few years. He also felt some wood near the front of the cabin should be replaced. Aherns demanded that the Johnsons fix these items or he would not close. The Johnsons maintain they did not agree to any repairs; the condition was for Aherns’ protection so that he could opt out of the agreement. Aherns has threatened to sue for breach of contract. Who should win?
In: Accounting
Determine the chimney height required to preserve design flow in a natural recirculation boiling water reactor channel with the following characteristics:
System pressure: 7.136 MPa
Reactor height 1.83 m
Feedwater temperature 260 Celsius
Combined pressure in losses in the channel, chimney, and downcomer: 1344.5 Pa
Average channel density in the core: 642.9 kg / m^3
Two-phase friction losses in the chimney 137.9 Pa
Friction losses in the downcomer: 68.9 Pa
Friction drop in channel: 606.7 Pa
Average exit void fraction: 44%
Feedwater added near the top of chimney
In: Mechanical Engineering
1) Describe what polarization means in the context of electric charges. Generally, under what circumstances would I see polarization happen? (describe how the charges are distributed pre- and post- polarization). Water is said to be a polar molecule; what does that mean in this context?
2) Plasma is a state of matter that has been completely ionized; meaning that there are no electrons bound to protons, and both the electrons and protons are able to move about freely. If I have a positively charged surface and bring it near to a plasma, what would happen? Will both the electrons and protons behave in the same way? (compare their accelerations).
In: Physics
3. A pregnant woman has come to you for advice. By mistake she took thalidomide prescribed for her husband. She is certain that she took the drug during the third week of pregnancy, she is now near the end of the second trimester. She has come to you to determine whether her child will be born with malformed limbs.
a. Explain what test or tests you would suggest that could answer her question.
b. Explain why you choose that test.
c. What results would you expect from your test if the fetus was affected.
PLEASE BE SPECIFIC
In: Biology
Once researchers learn about some aspect of cancer or its treatment, clinical trials are needed to test out any proposed use in humans. What are some of the kinds of clinical trials going on for cancer? Go to the National Cancer Institute's website and look at their web page with the title Search for Clinical Trials. Select a form of cancer and look for clinical trials near you. Pick one of the trials that is currently open to new participants. Explain who is participating and what is the trial testing, Who is excluded from participation? What phase of trial is this study and what are they mainly trying to find out?
In: Biology