Mrs. Carr made the following interest payments. Assume the taxable year is 2021. Determine the extent to which she can deduct each payment on her Form 1040. a. $21,000 on a $280,000 mortgage incurred to construct (and secured by) her personal residence.
b. $3,000 on a $34,000 second mortgage secured by her personal residence. Mrs. Carr used the proceeds to pay off her credit card debt.
c. $2,290 on credit card debt. $15,000 on a $200,000 bank loan incurred to purchase inventory for her sole proprietorship.
d. $1,610 on a bank loan incurred to purchase a car for her son.
e. $1,750 on a bank loan incurred to purchase mutual fund shares that generated $1,900 dividend income this year.

You are evaluating two different silicon wafer milling machines. the techron i costs $285,000, has a three-year life, and has pretax operating costs of $78,000 per year. the techron ii costs $495,000, has a five-year life, and has pretax operating costs of $45,000 per year. for both milling machines, use straight-line depreciation to zero over the project’s life and assume a salvage value of $55,000. if your tax rate is 24 percent and your discount rate is 11 percent, compute the eac for both machines.

Brenda wants a new car that will be dependable transportation and look good. she wants to satisfy both functional and psychological needs. true or false

Reynolds corp. factors $400,000 of accounts receivable with mateer finance corporation on a without recourse basis on july 1, 2015. the receivables records are transferred to mateer finance, which will receive the collections. mateer finance assesses a finance charge of 1 ½ percent of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable to cover sales discounts, returns, and allowances. the transaction is to be recorded as a sale.required: a. prepare the journal entry on july 1, 2015, for reynolds corp. to record the sale of receivables without recourse.b. prepare the journal entry on july 1, 2015, for mateer finance corporation to record the purchase of receivables without recourse— think through this.c. explain the difference between sale of receivables with recourse as oppose to without recourse.