In 2015,Carol,who Is 54 and Single,earned a Salary of $54,000

question 96

Multiple Choice

In 2015,Carol,who is 54 and single,earned a salary of $54,000 and $6,000 of interest on State of Nevada bonds.She contributed $2,000 to her Roth IRA,paid a $4,000 hospital bill,state income taxes of $1,500,real estate taxes of $900,mortgage interest of $4,500,and $2,000 interest on her margin account under which she purchased the bonds.What is Carol's taxable income?

• A)$41,100
• B)$43,100
• C)$44,700
• D)$47,400

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Definitions:

Cigarette Ban

A cigarette ban is a public policy that prohibits the sale, consumption, and/or advertisement of cigarettes in order to protect public health.

Market Effects

The impact of economic events or policies on the broader market, including changes in prices, demand, and supply.

Subsidy Benefit

Financial assistance provided by the government to an individual or organization, aiming to reduce costs and encourage specific economic activities.

Demand Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, with high elasticity indicating a significant response.