What are The American Opportunity Tax Credit and Lifetime Learning Credit?

They are a dollar-for-dollar reduction of the tax you owe.

You can use these credits against tuition payments that you make using student loans.

They are a percentage reduction for college tuition payments.

All of the above

a and b only

b and c only

a and c only

Garcia industries has sales of $200,000 and accounts receivable of $18,500, and it gives its customers 25 days to pay. the industry average dso is 27 days, based on a 365-day year. if the company changes its credit and collection policy sufficiently to cause its dso to fall to the industry average, and if it earns 8.0% on any cash freed-up by this change, how would that affect its net income, assuming other things are held constant? a. $241.45b. $254.16c. $267.54d. $281.62e. $296.44