Acustomer buys a municipal bond in the secondary market at a discount. which of the following statements are true regarding the discount and the tax consequence?
i. the discount must be accretedii. the discount may be accreted at the option of the bondholderiii. the discount is subject to taxiv. the discount is not subject to tax

Scoresby co. uses 6 machine hours and 2 direct labor hours to produce product x. it uses 8 machine hours and 16 direct labor hours to produce product y. scoresby's assembly and finishing departments have factory overhead rates of $240 per machine hour and $160 per direct labor hour, respectively. how much overhead cost will be charged to the two products? a. product x = $1,440; product y = $2,560 b. product x = $1,760; product y = $4,480 c. product x = $3,200; product y = $9,600 d. product x = $800; product y = $800