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Question - The Grays' son Joel, graduated and received his bachelor's degree in June 2018. In 2018, Joel turned age 24 and provided more than half of his support. The Gray's file jointly with modified AGI of $116,000. Joel has modified AGI of $26,000. Who can claim a tax credit for education expenses paid by Joel during 2018?
A) Only the Grays can claim the Lifetime Learning Credit or the American Opportunity Credit (if Joel qualifies), whichever is more beneficial.
B) Only Joel can claim the Lifetime Learning Credit or the American Opportunity Credit ( if he qualifies), whichever is more beneficial.
C) Either the Grays or Joel (but not both) can claim an education tax credit.
D) Neither the Grays nor Joel can claim an education tax credit.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
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Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.
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