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Carol attends State U. and received a $10,000 scholarship for her senior year that began in September, year 1. Up to the time of her graduation in May, year 2, Carol had paid the following expenses for the two semesters:
1st semester: $3,000 tuition; $1,550 room and board in a dormitory; $400 for books and fees.
2nd semester: $3,000 tuition; $1,700 living expenses in an apartment; $250 for books and fees.
She used the remaining money from the scholarship to purchase clothes for job hunting in April, year 2.
Does Carol have any income as a result of the scholarship? If yes, how much is her income and in what years would it be included in income?
Motor Neuron
A type of nerve cell that transmits signals from the brain and spinal cord to muscles, causing them to contract.
Sensory Receptor
A specialized cell or group of nerve endings that responds to sensory stimuli such as light, sound, or touch.
Muscle Spindle
Muscle spindles are sensory receptors within the belly of a muscle that primarily detect changes in the length of the muscle, thereby helping to regulate muscle contraction.
Action Potentials
Rapid rises and falls in the membrane potential of a cell, fundamental in the conduction of electrical impulses along nerves and muscle fibers.
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