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Melvin?, a? self-employed consultant, incurs the following? business-related expenses in 2020?:
Actual Automobile Expenses $2900
Moving Expenses 4200
Entertainment Expense 1100
Travel Expenses 3250
Business meals 300
Dues and subscriptions 650
Requirement:
Problem 1: What is Melvin and Ava's AGI and taxable income amount in 2020, assuming he is married and files a joint return, and ignoring the self-employment tax? (Ignore the Qualified business income deduction)
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Potential investors are expected to get a rate of return of 8% p.a. on the shares. Calculate the number of shares needs to be sold by the company.
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