A house in the neighborhood has been well maintained. The seller has made sure that all the electrical systems are working to code and that it has been kept up-to-date on painting and other maintenance. The appraiser gives him an excellent value based on: a. Cost to cure.
b. Economic life.
c. Actual Age.
d. Effective Age.

answer: in july 1862

explanation: during the american civil war, president abraham lincoln and congress passed the revenue act of 1862, creating the office of commissioner of internal revenue and enacting a temporary income tax to pay war expenses. the revenue act of 1862 was passed as an emergency and temporary war-time tax.