In 2019, Carol, Who Is 54 and Single, Earned a Salary

question 68

Multiple Choice

In 2019, 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 $13,350 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)$37,050
• B)$39,150
• C)$41,050
• D)$43,050

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Definitions:

Core Countries

Nations that dominate global trade and economics, characterized by high levels of industrialization and a well-developed infrastructure.

Global Stratification

The hierarchical arrangement and classification of societies or countries based on indicators such as wealth, economic status, access to resources, and power.

Fertility Rates

The average number of children that would be born to a woman over her lifetime, based on current age-specific fertility rates.

Societal Burden

A term that describes the overall impact of social problems, including economic costs and negative effects on well-being, on a community or society.