This year luke has calculated his gross tax liability at $2,020. luke is entitled to a $2,730 nonrefundable personal tax credit, a $1,665 business tax credit, and a $710 refundable personal tax credit. in addition, luke has had $2,575 of income taxes withheld from his salary.

net refund value for Luke = $3285

Explanation:

given data

gross tax liability = $2,020

nonrefundable personal tax credit = $2,730

business tax credit = $1,665

refundable personal tax credit =  $710

income taxes withheld from salary = $2,575

solution

we get here Luke's non refundable credit that is

Luke's non refundable credit = $2730 - $2020

Luke's non refundable credit = $710

so

net refund value for Luke will be here

net refund value for Luke $710 + $2575

net refund value for Luke = $3285

so we can say that it is  includes the refundable value and the unused business tax value which gets carried over

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

e would be the answer