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Under a divorce agreement executed in 2012, Bob is required to pay his ex-wife, Carol, $3,000 a month until their youngest daughter is 21 years of age. At that time, the required payments are reduced to $2,000 per month.
a.How much of each $3,000 payment may be deducted as alimony by Bob?
b.How much of each $3,000 payment must be included in Carol's taxable income?
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Standard Deviation
Square root of the weighted average of the squares of the deviations of the payoffs associated with each outcome from their expected values.
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A cognitive bias causing someone to be too confident in their own judgments and decisions.
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The process of forecasting the possible results of a particular situation or decision.
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