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Prior to the effect of tax credits, Wayne's regular income tax liability is $175,000 and his tentative AMT is $150,000.Wayne has nonrefundable business tax credits of $40,000.Wayne's tax liability is $135,000.
Sample Covariance
A measure of the degree to which two variables change together for a sample of a population, indicating their linear relationship.
Cov (x,y)
Represents the covariance between two variables \(x\) and \(y\), measuring how changes in one variable are associated with changes in another.
Covariance
A statistical measure that indicates the extent to which two variables change together; if the greater values of one variable mainly correspond with the greater values of the other variable, and the same holds for the lesser values, the covariance is positive.
Slope
A measure of the steepness or incline of a line, representing the ratio of the change in the y-value to the change in the x-value.
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