You are an expert in the field of advanced laser technology. You believe there is a profitable, though risky, commercial market opportunity for a new and more effective photonic crystal laser. The investment could result in a financial success, but could also result in no new innovations even after significant research costs. It requires a number of experts to coordinate in order to develop the new lasers. You invite eleven people that have never worked together to develop the new technology. You want to form a limited liability company in order to protect the interests of all participants. Evaluate the possible management structures and key terms of any operating agreement that should be considered in order to form an LLC.

In year 1, the bennetts' 25-year-old daughter, jane, is a full-time student at an out-of-state university but she plans to return home after the school year ends. in previous years, jane has never worked and her parents have always been able to claim her as a dependent. in year 1, a kind neighbor offers to pay for all of jane's educational and living expenses. which of the following statements is most accurate regarding whether jane's parents would be allowed to claim an exemption for jane in year 1 assuming the neighbor pays for all of jane's support? a.no, jane must include her neighbor's gift as income and thus fails the gross income test for a qualifying relative.b.yes, because she is a full-time student and does not provide more than half of her own support, jane is considered her parent's qualifying child.c.no, jane is too old to be considered a qualifying child and fails the support test of a qualifying relative.d.yes, because she is a student, her absence is considered as "temporary." consequently she meets the residence test and is a considered a qualifying child of the bennetts.