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During February and March,Jade spends approximately 90 hours of her time volunteering at the Salvation Army (a public charity) preparing tax returns for low-income families.As a CPA,Jade normally bills her clients at $130 per hour for her time.Jade also drives her car a total of 800 miles in performing her voluntary work.Jade's deductible contribution is
Computed
Refers to something that has been determined or calculated using a computer or calculator.
Net Present Value
A method used in capital budgeting to assess the profitability of an investment or project, calculated by discounting the expected future cash flows to their present values and subtracting the initial investment.
Present Value
The immediate value of a future amount of money or a series of payments, discounted at a given rate of return.
Compound Interest
Interest calculated on the initial principal and also on the accumulated interest of previous periods.
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