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Robert will be working overseas on a permanent assignment for an international company beginning on March 1 of this year (306 days this year). His salary is $11,000 per month while Robert is overseas, but only $9,200 per month otherwise. What is the minimum amount of Robert's salary that he must include in gross income this year? (Round your final answer to the nearest whole dollar amount and assume that there are 365 days in this year.)
Available-For-Sale Security
A financial asset that is neither classified as held-to-maturity nor held for trading, and the investor intends to sell if needed before its maturity or holding period ends.
Perfectly Matched Hedge
A hedging strategy that entirely eliminates the risk of a particular position by taking an offsetting position in the market.
Interest Rate Swap
A financial derivative contract in which two parties agree to exchange future interest rate payments, typically one fixed-rate and one variable-rate.
Fair Value
A financial term referring to the estimated market value of an asset, based on current market prices.
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