Margot and Johnny; calendar year, cash basis taxpayers; file a joint return. Before any of the capital asset transactions below, their taxable income is $90,100 and consists entirely of wages from their current jobs. During the year, they also had the following capital asset transactions: . On February 1, 2018, they purchased Wal-Mart common stock for $57,000. They sold the stock on May 31, 2020 for $65,000.
. On August 15, 2019, they purchased PG&E common stock for $42,000. They sold the stock on July 25, 2019 for $35,000.
. On April 25,2017, they purchased Cisco common stock for $87.500. They sold the stock on May 21, 2019 for $100,000.
What is their final taxable income after including the capital asset transactions, and what is their total tax liability?
a. 5103,600 taxable income: $11,539 tax liability.
b. 5107,600 taxable income: $14,209 tax liability.
c. 5107,600 taxable income; $23,672 tax liability.
d. 5103,600 taxable income; 513,564 tax liability.

China white was the black market selling of ivory, in which the profit was redistributed back into the trafficking of heroin.

The sign at the bank reads, "wait here for the first available teller," suggests the use of a waiting line system.a. multiple server, single phaseb. random server, single phasec. single server, multiphased. multiple server, multiphasee. dynamic server, single phase

P8-4b dropping unfavorable division based on the following analysis of last year's operations of groves, inc., a financial vice president of the company believes that the firm's total net income could be increased by $160,000 if its design division were discontinued. (amounts are given in the thousands of dollars.) required provide answers for each of the following independent situations: a. assuming that total fixed costs and expenses would not be affected by discontinuing the design division, prepare an analysis showing why you agree or disagree with the vice president. b. assume that the discontinuance of the design division will enable the company to avoid 30% of the fixed portion of cost of services and 40% of the fixed operating expenses allocated to the design division. calculate the resulting effect on net income. c. assume that in addition to the cost avoidance in requirement (b), the capacity released by discontinuance of the design division can be used to provide 6,000 new services that would have a variable cost per service of $60 and would require additional fixed costs totaling $68,000. at what unit price must the new service be sold if groves is to increase its total net income by $180,000?