Chee, single, age 40, had the following income and expenses during 2018: income salary $43,000 rental of vacation home (rented 60 days, used personally 60 days, vacant 245 days) 4,000 municipal bond interest 2,000 dividend from general electric 400 expenses interest on home mortgage 8,400 interest on vacation home 4,758 interest on loan used to buy municipal bonds 3,100 property tax on home 2,200 property tax on vacation home 1,098 state income tax 3,300 state sales tax 900 charitable contributions 1,100 tax return preparation fee 300 utilities and maintenance on vacation home 2,600 depreciation on rental 50% of vacation home 3,500. calculate chee's net income from the vacation home, itemized deductions and taxable income for the year.

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale

Select the correct answer. which is a benefit of planning for your future career? a.being less prepared after high school. b.having higher tuition in college. c.earning college credits in high school. d.ruining your chances of having a successful career.

Read the following paragraph, and choose the best revision for one of its sentences.dr. blake is retiring at the end of the month. there will be an unoccupied office upon his departure, and it is big in size. because every other office is occupied, we should convert dr. blake’s office into a lounge. it is absolutely essential that this issue is discussed at the next staff meeting. (a) because every other office is occupied, it’s recommended that we should convert dr. blake’s office into a lounge. (b) because every other office is filled, we should convert dr. blake’s office into a lounge.