Tonya is a cash basis taxpayer. in 2017, she paid state income taxes of $8,000. in early 2018, she filed her 2017 state income tax return and received a $900 refund. a. if tonya itemized her deductions in 2017 on her federal income tax return, she should amend her 2017 return and reduce her itemized deductions by $900.b. if tonya itemized her deductions in 2017 on her federal income tax return and her itemized deductions exceeded the standard deduction by at least $900, the refund will not affect her 2018 tax return. c. if tonya itemized her deductions in 2017 on her federal income tax return, she must amend her 2017 federal income tax return and use the standard deduction. d. if tonya itemized her deductions in 2017 on her federal income tax return and her itemized deductions exceeded the standard deduction by more than $900, she must recognize $900 income in 2018 under the tax benefit rule. e. none of these.

At a student café, there are equal numbers of two types of customers with the following values. the café owner cannot distinguish between the two types of students because many students without early classes arrive early anyway (i.e., she cannot price-discriminate). students with early classes students without early classes coffee 70 60 banana 51 101 the marginal cost of coffee is 10 and the marginal cost of a banana is 40. the café owner is considering three pricing strategies: 1. mixed bundling: price bundle of coffee and a banana for 161, or just a coffee for 70. 2. price separately: offer coffee at 60, price a banana at 101. 3. bundle only: coffee and a banana for 121. do not offer goods separately. assume that if the price of an item or bundle is no more than exactly equal to a student's willingness to pay, then the student will purchase the item or bundle. for simplicity, assume there is just one student with an early class, and one student without an early class. price strategy revenue from pricing strategy cost from pricing strategy profit from pricing strategy 1. mixed bundling $ $ $ 2. price separately $ $ $ 3. bundle only $ $ $ pricing strategy yields the highest profit for the café owner.

Security a has a higher standard deviation of returns than security b. we would expect that: (i) security a would have a risk premium equal to security b. (ii) the likely range of returns for security a in any given year would be higher than the likely range of returns for security b. (iii) the sharpe ratio of a will be higher than the sharpe ratio of b. (a) i only (b) i and ii only (c) ii and iii only (d) i, ii and iii

Select the correct answer. ramon applied to the state university in the city where he lives, but he was denied admission. what should he do now? a.change his mind about graduating and drop out of high school so he can start working right away. b. decide not to go to college, because he didn’t have a backup plan. c.stay positive and write a mean letter to let the college know that they made a bad decision. d. learn from this opportunity, reevaluate his options, and apply to his second and third choices.