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You just won the lottery and want to give some money to a good cause. Because you have enjoyed this class so much, especially the tests, you decide to give $10,000 to HCC to fund student scholarships. HCC is a non-profit educational institution. What impact would that have on your federal income tax liability?
a. none
b. It would reduce the amount of income tax you owe by $10,000.
c. It would reduce your taxable income by $10,000.
d. It depends on your tax bracket.
A zero bond with a long maturity date has:
Crissie just won the lottery, and she must choose between three award options. She can elect to receive a lump sum today of $60 million, to receive 10 end-of-year payments of $9.3 million, or 30 end-of-year payments of $5.3 million. If she expects to..
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