Kirby Is in the 15% Tax Bracket and Had the Following

question 24

Multiple Choice

Kirby is in the 15% tax bracket and had the following capital asset transactions during 2012: Kirby's tax consequences from these gains are as follows:

• A) (5% ´ $10,000) + (15% ´ $13,000).
• B) (15% ´ $13,000) + (28% ´ $11,000).
• C) (0% ´ $10,000) + (15% ´ $13,000).
• D) (15% ´ $23,000).
• E) None of the above.

---

Definitions:

Revenues

The revenue produced through regular business activities, accounting for discounts and deductions related to returned goods.

Small Business Administration

is a U.S. government agency that provides support to entrepreneurs and small businesses, including loan guarantees, counseling, and training.

Government Procurement Contract

An agreement between the government and a private company for the provision of goods and services to the government.

Adequate Funding

Sufficient financial resources allocated to support a project, initiative, or organization.