Rodrigo and Raquel Are Married with 2 Dependent Children,age 18

question 38

Essay

Rodrigo and Raquel are married with 2 dependent children,age 18 and 20,and reported the following items on their 2013 tax return:
$\begin{array}{lrrr} \text { Adjusted gross income }&&&\$ 190,000 \\ \text {Less: Deductions from adjusted gross income } \\\text { Home mortgage interest } && \$ 9,500 \\\text { Home equity loan interest (for college education) } && 5,000 \\\text { State income taxes } && 12,000 \\\text { Property taxes } && 6,800 \\\text { Charitable contributions } && 4,400\\\text { Miscellaneous itemized deductions}&\$ 4,800\\\text { Less: } 2 \% \times \$ 190,000&\underline { (3,800)} &\underline { (1,000)} &(38,700)\\\text { Less: Exemptions }(4 \times \$ 3,900) &&&(15,600)\\\end{array}$
Determine Rodrigo and Raquel's regular tax liability and,if applicable,the amount of their alternative minimum tax.

Understand the prerequisites for accessing an OEM data hub and the implications thereof.

Differentiate between software platforms and hardware tools used for communicating with truck data buses.

Grasp the methods for accessing a truck chassis data bus and the importance of connector color coding.

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Definitions:

Framing Effect

A cognitive bias where people decide on options based on whether they are presented in a positive or negative way.

Ground Beef

Minced or finely chopped beef used in various dishes, such as burgers, meatballs, and tacos.

Confirmation Bias

The tendency to search for, interpret, and remember information in a way that confirms one’s preconceptions, leading to statistical errors.

Public Opinion Poll

A method used to gauge public opinion by asking a random sample of people questions on various topics.