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Michelle,age 20,is a full-time college student with earned income from wages of $5,200 and interest income of $700.Michelle's parents provide more than half of Michelle's support.Michelle's 2019 taxable income is
Trademark
A legal designation that protects the exclusive use of a brand or product name.
Goodwill
The intangible asset that arises when a business is acquired for more than the fair value of its net identifiable assets.
Straight-Line Method
A method of calculating depreciation of an asset by evenly spreading the cost over its useful life.
Extraordinary Repairs
Major repairs or expenditures that significantly prolong the useful life of an asset, beyond normal maintenance.
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