Larry recently invested $20,000 (tax basis) in purchasing a limited partnership interest. his at-risk amount is also $20,000. in addition, larry’s share of the limited partnership loss for the year is $2,000, his share of income from a different limited partnership is $1,000, and he has $3,000 of dividend income from the stock he owns. how much of larry’s $2,000 loss from the limited partnership can he deduct in the current year?

Six years ago, an 80-kw diesel electric set cost $160,000. the cost index for this class of equipment six years ago was 187 and is now 194. the cost-capacity factor is 0.6. the plant engineering staff is considering a 120-kw unit of the same general design to power a small isolated plant. assume we want to add a precompressor, which (when isolated and estimated separately) currently costs $13291. determine the total cost of the 120-kw unit. (hint: skip $ and comma symbols)