Under the Terms of a Divorce Agreement Entered into in 2018

question 36

Multiple Choice

Under the terms of a divorce agreement entered into in 2018, Kim was to pay her husband Tom $7,000 per month in alimony.Kim's payments will be reduced to $3,000 per month when their 9 year-old son becomes 21.The husband has custody of their son.For a 12 month period, Kim can deduct from gross income (and Tom must include in gross income) :

• A)$60,000.
• B)$48,000.
• C)$36,000.
• D)$0.
• E)None of these.

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Definitions:

Proportion

Another way of saying fraction.

Extremes

The highest or lowest level of a math function on an interval.

Proportion

A part or share of a whole, often expressed as a ratio or fraction, indicating the relationship in size or amount between parts.

Means

The average that is derived by adding up all the values of a given series and dividing by the number of values.