Indicate the proper federal income tax treatment of the item on an individual income tax return. Question 27 options:

Value of a trip to Hawaii won on Wheel of Fortune last summer.

Alimony paid by professional golfer to deadbeat ex-husband who is unemployed.

State and local property taxes paid on a personal residence.

Huge amount of tips received at your part-time job waiting tables at Whitehouse-Crawford.

Regular Individual Retirement Account (IRA) contribution paid during the current year.

Tuition and fees paid by parents to cover their children's academy costs.

Interest income from a College Place water system bond.

Life insurance proceeds resulting from the death of your spouse.

Cost of commuting to and from work in Kennewick.

Money inherited from a stranger whom you befriended 10 years ago in Seattle.

1.
IN = Included in Gross Income

2.
EX = Excluded from Gross Income

3.
AG = Deducted in Arriving at Adjusted Gross Income

4.
DE = Deducted from Adjusted Gross Income

5.
ND = Not Deductible in Computing Taxable Income.

Suppose that fizzo and pop hop are the only two firms that sell orange soda. the following payoff matrix shows the profit (in millions of dollars) each company will earn depending on whether or not it advertises: pop hopadvertise doesn’t advertisefizzo advertise 10, 10 18, 2doesn’t advertise 2, 18 11, 11for example, the upper right cell shows that if fizzo advertises and pop hop doesn't advertise, fizzo will make a profit of $18 million, and pop hop will make a profit of $2 million. assume this is a simultaneous game and that fizzo and pop hop are both profit-maximizing firms. if fizzo decides to advertise, it will earn a profit if pop hop advertises and a profit if pop hop does not advertise. if fizzo decides not to advertise, it will earn a profit if pop hop advertises and a profit if pop hop does not advertise. if pop hop advertises, fizzo makes a higher profit if it chooses (not to advertise, to .if pop hop doesn't advertise, fizzo makes a higher profit if it chooses (not to advertise, to . suppose that both firms start off not advertising. if the firms act independently, what strategies will they end up choosing? fizzo will choose to advertise and pop hop will choose not to advertise. both firms will choose to advertise. fizzo will choose not to advertise and pop hop will choose to advertise. both firms will choose not to advertise. again, suppose that both firms start off not advertising. if the firms decide to collude, what strategies will they end up choosing? fizzo will choose not to advertise and pop hop will choose to advertise. both firms will choose not to advertise. fizzo will choose to advertise and pop hop will choose not to advertise. both firms will choose to advertise.