Ted Was Shopping for a New Automobile

question 26

Essay

Ted was shopping for a new automobile. He found one that met his needs and agreed to purchase it for $23,000. He had shopped around and concluded that he could not get a better price from another dealer. After he had paid for the automobile, the dealer called to notify Ted that he was entitled to a manufacturer's rebate of $1,500. The next week he received a $1,500 check from the manufacturer. How much should Ted include in gross income?

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Definitions:

Alimentary Canal

The entire digestive tract from the mouth to the anus, through which food is ingested, broken down, and absorbed.

Pancreas

A glandular organ that functions in both the digestive and endocrine systems, producing digestive enzymes and hormones like insulin.

Digestive Enzymes

Enzymes produced by the digestive system that break down proteins, fats, and carbohydrates into simpler molecules that can be absorbed and utilized by the body.

Esophagus

A muscular tube that conveys food and liquids from the mouth to the stomach using rhythmic contractions known as peristalsis.