Michele Walsh Is Considering an Additional Charitable Contribution of $1,500

question 43

Multiple Choice

Michele Walsh is considering an additional charitable contribution of $1,500 to a tax-deductible charity,bringing her total itemized deductions to $16,000.If Michele is in a 24 percent tax bracket,how much will this $1,500 contribution reduce her taxes?

• A)$0
• B)$360
• C)$1,500
• D)$1,600
• E)$3,840

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Definitions:

Connection Power

The influence one gains over others through the ability to establish and leverage personal and professional relationships.

Compliance

Adhering to laws, regulations, guidelines, and specifications relevant to business operations or practices.

Identification

The psychological process of associating oneself with certain groups, ideals, or characteristics.

Internalization

The process by which individuals incorporate external standards or behaviors into their own belief and value system.