Bailey, a single taxpayer, obtains permission to change from a calendar year to a fiscal year ending June 30, 2019. During the six months ending June 30, 2019, she earns $40,000 and has $8,000 of itemized deductions. What is the amount of her annualized income?

a.$32,000

b.$28,000

c.$64,000

d.$56,000

Correct option is c.$64,000

Explanation:

given data

earn  = $40,000

deductions = $8,000

time = 6 month

solution

we get here amount of her annualized income that is express as

amount of her annualized income = ( earn - deduction ) × time duration

amount of her annualized income =  ( $40,000 - $8,000 ) ×  

amount of her annualized income = $64,000

so correct option is c.$64,000

going on the gulag might you to find a better answer for that problem

lbc corporation makes and sells a product called product wz. each unit of product wz requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 28,000 units of product wz in june. the finished goods inventories o