What is total cost of ownership? a. it is the expenditure involved in raising capital for a sole proprietorship. b. it is the expenditure involved in the purchase, use, and maintenance of a product. c. it is the expenditure involved in securing the owners against business losses and debts. d. it is the expenditure involved in owning any kind of business in a market economy.

Jacob is a member of wcc (an llc taxed as a partnership). jacob was allocated $155,000 of business income from wcc for the year. jacob’s marginal income tax rate is 37 percent. the business allocation is subject to 2.9 percent of self-employment tax and 0.9 percent additional medicare tax. (round your intermediate calculations to the nearest whole dollar a) what is the amount of tax jacob will owe on the income allocation if the income is not qualified business income? b) what is the amount of tax jacob will owe on the income allocation if the income is qualified business income (qbi) and jacob qualifies for the full qbi duduction?