In 2016,Venkat,who Is Single and Age 37,received $60,000 of Gross

question 55

Multiple Choice

In 2016,Venkat,who is single and age 37,received $60,000 of gross income and had $6,800 of itemized deductions.Venkat's taxable income is

• A)$49,150.
• B)$53,200.
• C)$55,950.
• D)$49,650.

---

Definitions:

Exporting

Selling domestically produced products to foreign markets.

Foreign Company

A business entity that is registered, operates, or is based in a country other than the one where it conducts most of its operations or sales.

Exporting

The act of sending goods or services to another country for sale.

Licensing

A business arrangement in which one company gives another company permission to manufacture its product for a specified payment.