Steve made the following transfers during the year: $10,000 to louisiana state university. the $10,000 contribution allows him to purchase football season tickets. steve also bought the football season tickets at a cost of $5,000. $400 to the local public broadcast television station during the annual fund drive. in return for the $400 contribution, steve received a mug and pen with the station’s logo valued at $8. 1,000 shares of abc stock to the united way. at the date of the contribution, the stock had a fair market value of $50 per share. steve’s adjusted taxable basis in the stock was $10 per share and he held the stock long-term. ignoring any agi limitations, what is steve’s maximum charitable income tax deduction for this year?

Nellie lumpkin, who suffered from dementia, was admitted to the picayune convalescent center, a nursing home. because of her mental condition, her daughter, beverly mcdaniel, signed the admissions agreement. it included a clause requiring the par- ties to submit any dispute to arbitration. after lumpkin left the center two years later, she filed a suit against picayune to recover damages for mistreatment and malpractice. [covenant health & rehabilitation of picayune, lp v. lumpkin, 23 so.2d 1092 (miss. app. 2009)] (see page 91.) 1. is it ethical for this dispute—involving negligent medical care, not a breach of a commercial contract—to be forced into arbitration? why or why not? discuss whether medical facilities should be able to impose arbitration when there is generally no bargaining over such terms.

Which of the following best describes the economic effect that results from the government having a budget surplus? a. consumers save more and spend less, enabling long-term financial planning. b. overall demand decreases, reducing the incentive for producers to increase production. c. banks have more deposits, enabling them to make more loans to investors. d. government spending increases, increasing competition for goods and services and driving prices up.

5. if you were to take a typical payday loan for $150, with an interest rate of 24.5% due in full after two weeks, what is the total amount you would have to repay? a. $186.75 b. $174.50 c. $157.33 d. $153.67