Monty loaned his friend Ned $20,000 three years ago. Ned signed a note and mnade payments on the loan. Last yesr, when the remaining balance was $11,000 Ned filed for bankropcy and totified Monty that he would be unable to pay the balance on the loan. Monty treated the $11,000 as nonbusiness bad debt. Last year, Monty had capital gain of $4000 and taxable income of $20,000. During the current year, Ned paid Monty $10,000 in satisfaction of the debt. Determine Monty's tax treatment for the $10,000 received in the current year

The management of a supermarket wants to adopt a new promotional policy of giving a free gift to every customer who spends > a certain amount per visit at this supermarket. the expectation of the management is that after this promotional policy is advertised, the expenditures for all customers at this supermarket will be normally distributed with a mean of $95 and a standard deviation of $20. if the management wants to give free gifts to at most 10% of the customers, what should the amount be above which a customer would receive a free gift?