Sabin is an artist and maintains an office (his studio) in his home. his office occupies 8% of the total floor space of his residence. gross income from his business is $24,000. expenses of the business (other than home office expenses) are $5,000. sabin incurs the following home office expenses:

real property taxes on residence: $2,400

interest expense on residence: $4,000

operating expenses of residence: $2,200

depreciation on residence (based on 8% business use): $450.

a) assuming sabin uses the "regular method" to compute the office in the home deduction, his deduction is ?

b) assuming sabin uses the "simplifed method" to computer the office in the home deduction, his deduction is?

Personal financial planning is the process of creating and achieving financial goals? true or false

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Christopher kim, cfa, is a banker with batts brothers, an investment banking firm. kim follows the energy industry and has frequent contact with industry executives. kim is contacted by the ceo of a large oil and gas corporation who wants batts brothers to underwrite a secondary offering of the company's stock. the ceo offers kim the opportunity to fly on his private jet to his ranch in texas for an exotic game hunting expedition if kim's firm can complete the underwriting within 90 days. according to cfa institute standards of conduct, kim: a) may accept the offer as long as he discloses the offer to batts brothers.b) may not accept the offer because it is considered lavish entertainment.c) must obtain written consent from batts brothers before accepting the offer.