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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?
Governor Cut-Out Pressures
The maximum pressure at which the compressor governor stops the compressor from pumping air into an air brake system.
Compliant
Meeting or in accordance with established guidelines, regulations, or standards.
Relay Valve Crack Pressures
The initial pressure at which a relay valve starts to open or change its state in a compressed air system, important for the timing and control of air flow.
Service Brakes
The primary braking system used during normal vehicle operation, enabling a driver to reduce speed or bring the vehicle to a stop.
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