Arthur transfers property valued at $250,000 to a charitable organization in return for a single life annuity based on his life value at $130,000. arthur’s adjusted basis in the transferred property was $95,000. arthur died two years after the transaction and at the time of his death, the property had a fair market value of $325,000. at the time of the initial transfer, what was arthur’s charitable income tax deduction (ignoring any agi limitations)? $75,000. $120,000. $155,000. $250,000.

Analyzing and computing accrued warranty liability and expense waymire company sells a motor that carries a 60-day unconditional warranty against product failure. from prior years' experience, waymire estimates that 2% of units sold each period will require repair at an average cost of $100 per unit. during the current period, waymire sold 69,000 units and repaired 1,000 units. (a) how much warranty expense must waymire report in its current period income statement? (b) what warranty liability related to current period sales will waymire report on its current period-end balance sheet? (hint: remember that some units were repaired in the current period.) (c) what analysis issues must we consider with respect to reported warranty liabilities?