Patrick has an adjusted gross income of $160,000 in the current year. He donated $30,000 in cash to a public charity, capital gain property with a basis of $15,000 and a fair market value of $40,000 to a public charity, and publicly traded stock with a basis of $20,000 and a fair market value of $35,000 to a private nonoperating foundation. The amount that Patrick can deduct for the stock donation to the private nonoperating foundation is .

An$8,000

swer:

Explanation:

Non-cash contributions of capital gain property are subject to limit of 30% of AGI = 30% * 160000 = $48,000

$40,000 in property to public charity is allowable deduction (Contribution to private non-operating foundation is further subject to a 30% limit)

Hence, allowable deduction of contribution to private non-operating foundation = 30% * AGI (Contribution subject to 30% limit) = $48,000 - $40,000 = $8,000

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.