Brittany,who Is an Employee,drove Her Automobile a Total of 20,000

question 4

Multiple Choice

Brittany,who is an employee,drove her automobile a total of 20,000 business miles in 2017.This represents about 75% of the auto's use.She has receipts as follows: Brittany's AGI for the year is $50,000,and her employer does not provide any reimbursement.She uses the standard mileage rate method.After application of any relevant floors or other limitations,Brittany can deduct

• A)$10,400.
• B)$12,400.
• C)$11,400.
• D)$9,700.

---

Definitions:

Labor Supply Curve

A graphical illustration of the relationship between the wage rate and the quantity of labor workers are willing to supply at various wage rates.

Substitution Effect

The change in consumption patterns due to a change in the relative prices of goods, leading consumers to substitute one good for another.

Income Effect

The change in consumers' purchasing power and consequently the quantity demanded of a good or service, prompted by a change in real income.

Opportunity Cost

Missing the chance to profit from several alternative options by deciding on one.