Daniel, age 38, is single and has the following income and expenses in 2020: Salary income $165,000
Net rent income 8,500
Dividend income 2,500
Payment of alimony (divorce finalized in March 2019) 30,000
Mortgage interest on residence 8,300
Property tax on residence 1,400
Contribution to traditional IRA (assume the amount is fully deductible) 2,400
Contribution to United Church 2,100
Loss on the sale of real estate (held for investment) 1,950
Medical expenses 5,650
State income tax 2,250
Federal income tax 7,000

Required:
a. Calculate Daniel's AGI.
b. Should Daniel itemize his deductions from AGI or take the standard deduction? Explain.

He cornerstone of arsoac, the is organized into four like battalions and provides nighttime, all-weather, medium range insertion, extraction, and resupply capability in hostile or denied areas.

Goals that are overly ambitious can discourage employees and decrease motivation, yet the idea of stretch goals is proposed as a way to get people fired up and motivated. as a manager, how might you decide where to draw the line between a “good” stretch goal and a “bad” one that is unrealistic?

Lynch company manufactures and sells a single product. the following costs were incurred during the company’s first year of operations: variable costs per unit: manufacturing: direct materials $ 12 direct labor $ 6 variable manufacturing overhead $ 1 variable selling and administrative $ 1 fixed costs per year: fixed manufacturing overhead $ 308,000 fixed selling and administrative $ 218,000 during the year, the company produced 28,000 units and sold 15,000 units. the selling price of the company’s product is $56 per unit. required: 1. assume that the company uses absorption costing: a. compute the unit product cost. b. prepare an income statement for the year. 2. assume that the company uses variable costing: a. compute the unit product cost. b. prepare an income statement for the year.