Summary Problem: Ralph,age 44,is an account executive for Cobb Advertising,Inc.Ralph's annual salary is $90,000.Other benefits paid by Cobb Advertising were:
In addition to the benefits above,Cobb Advertising has a qualified pension plan into which employees can contribute (and Cobb matches)up to 5% of their annual salary.Ralph contributes the maximum allowable to the plan.
Ralph has never been able to itemize his allowable personal deductions (i.e. ,he always uses the standard deduction).In 2017,Ralph receives a refund of $300 of his 2016 State income taxes and a 2016 Federal tax refund of $400.
Other sources of income:
Required: Compute Ralph's 2016 gross income.
Definitions:
Interpret Sentences
The cognitive process of understanding the meaning of phrases and clauses in language.
Effortful
Pertaining to an action requiring considerable mental or physical effort.
Online
Connected to or available through the internet or a computer network.
Garden Path Sentences
Sentences that lead readers to misinterpret the first part, requiring a reevaluation for understanding.
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