Adrian was awarded an academic scholarship to State University for the 2019–2020 academic year. He received $6,500 in August and $7,200 in December 2019. Adrian had enough personal savings to pay all expenses as they came due. Adrian's expenditures for the relevant period were as follows: Tuition, August 2019 $3,700
Tuition, January 2020 3,750
Room and board
August–December 2019 2,800
January–May 2020 2,500
Books and educational supplies
August–December 2019 1,000
January–May 2020 1,200
Regarding Adrian's scholarship, indicate whether the following statements are "True" or "False".
a. When Adrian received the money in 2019, his total expenses for the academic year were not known. Therefore, he is allowed to defer reporting the income until 2020, when the uncertainty is resolved. True
b. The amount Adrian spent on tuition, books, and educational supplies in 2020 will not be excludable, since the scholarship was awarded in 2019. False
c. Adrian may exclude from gross income the amount used for tuition, books, and educational supplies in 2019 and 2020. True
d. The amount Adrian spent on room and board is excludable. False
What amount, if any, must Adrian include in his gross income for 2019 and 2020? If an amount is zero, enter "0".
2019: $
2020: $

The gilbert instrument corporation is considering replacing the wood steamer it currently uses to shape guitar sides. the steamer has 6 years of remaining life. if kept, the steamer will have depreciaiton expenses of $650 for five years and $325 for the sixthyear. its current book value is $3,575, and it can be sold on an internet auction site for$4,150 at this time. if the old steamer is not replaced, it can be sold for $800 at the endof its useful life. gilbert is considering purchasing the side steamer 3000, a higher-end steamer, whichcosts $12,000 and has an estimated useful life of 6 years with an estimated salvage value of$1,500. this steamer falls into the macrs 5-year class, so the applicable depreciationrates are 20.00%, 32.00%, 19.20%, 11.52%, 11.52%, and 5.76%. the new steamer is fasterand allows for an output expansion, so sales would rise by $2,000 per year; the newmachine's much greater efficiency would reduce operating expenses by $1,900 per year. to support the greater sales, the new machine would require that inventories increase by$2,900, but accounts payable would simultaneously increase by $700. gilbert's marginalfederal-plus-state tax rate is 40%, and its wacc is 15%.a. should it replace the old steamer? b. npv of replace = $2,083.51

Which statement or statements are implied by equilibrium conditions of the loanable funds market? a firm borrowing in the loanable funds market invests those funds with a higher expected return than any firm that is not borrowing. investment projects which use borrowed funds are guaranteed to be profitable even after paying interest expenses. the quantity of savings is maximized, thus the quantity of investment is maximized. a loan is made at the minimum interest rate of all current borrowing.

Heather has been an active participant in a defined benefit plan for 19 years. during her last 6 years of employment, heather earned $42,000, $48,000, $56,000, $80,000, $89,000, and $108,000, respectively (representing her highest-income years). calculate heather’s maximum allowable benefits from her qualified plan (assume that there are fewer than 100 participants). assume that heather’s average compensation for her three highest years is $199,700. calculate her maximum allowable benefits.