Elaine loaned her brother, Mike, $175,000 to purchase a new home. Elaine does not charge Mike any interest on the loan. What are the tax consequences to Elaine and Mike?
Group of answer choices:
O Mike can deduct the interest that he is deemed to have paid Elaine.
O Elaine is treated as having made a gift of the forgone interest on the $175,000 loan to Mike.
O Elaine only has to impute interest on $75,000 of the loan to Mike.
O If Mike has no net investment income, Elaine does not have to treat the forgone interest as a gift.

Issued to the joint planning and execution community (jpec) initiates the development of coas; it also requests that the supported ccdr submit a commander's estimate of the situation with a recommended coa to resolve the situation (joint force command and staff participation in the joint operation planning and execution system, page 10)

In the 1970s, kmart used blue light specials to encourage customers to flock to a particular department having a temporary sale. a spinning blue light activated for approximately 30 seconds, and then an in-store announcement informed shoppers of the special savings in the specific department. over time, loyal kmart shoppers learned to flock to the department with the spinning blue light before any announcement of special savings occurred. if kmart was employing classical conditioning techniques, what role did the spinning blue light play?

Warner inc. sells a high-speed retrieval system for mining information. it provides the following information for the year. budgeted actual overhead cost $965,700 $905,000 machine hours 58,570 49,200 direct labor hours 107,300 104,200 overhead is applied on the basis of direct labor hours. compute the predetermined overhead rate. predetermined overhead rate $ per direct labor hour link to text determine the amount of overhead applied for the year. the amount of overhead applied $