Jerry, a single taxpayer, had adjusted gross income in 2024 of $210,350. Included in this income was a gain on sale of collectibles purchased 14 months ago of $4,200 and a gain on sale of stock purchased 2 years ago of $1,600. If Jerry claims the standard deduction, what is his 2024 tax liability? A. $40,047 B. $39,879 C. $40, 175 D. $39,967 A expected retum multiple number of annual payments amount of payment expected total payment(14.6 x 12 x 5500) retum of capital percent ($529,980/963,600) retum of capital per payment ($5500x55%) gross income per payment($5500-$3,025) B 14.6 12 $5,500! $963,600 55% $3,025 $2,475

Corporate Fin Focused Approach
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Chapter4: Time Value Of Money
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Jerry, a single taxpayer, had adjusted gross income in 2024 of $210,350.
Included in this income was a gain on sale of collectibles purchased 14
months ago of $4,200 and a gain on sale of stock purchased 2 years ago of
$1,600. If Jerry claims the standard deduction, what is his 2024 tax liability?
A. $40,047 B. $39,879 C. $40, 175 D. $39,967
Transcribed Image Text:Jerry, a single taxpayer, had adjusted gross income in 2024 of $210,350. Included in this income was a gain on sale of collectibles purchased 14 months ago of $4,200 and a gain on sale of stock purchased 2 years ago of $1,600. If Jerry claims the standard deduction, what is his 2024 tax liability? A. $40,047 B. $39,879 C. $40, 175 D. $39,967
A
expected retum multiple
number of annual payments
amount of payment
expected total payment(14.6 x 12 x 5500)
retum of capital percent ($529,980/963,600)
retum of capital per payment ($5500x55%)
gross income per payment($5500-$3,025)
B
14.6
12
$5,500!
$963,600
55%
$3,025
$2,475
Transcribed Image Text:A expected retum multiple number of annual payments amount of payment expected total payment(14.6 x 12 x 5500) retum of capital percent ($529,980/963,600) retum of capital per payment ($5500x55%) gross income per payment($5500-$3,025) B 14.6 12 $5,500! $963,600 55% $3,025 $2,475
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