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Homework answers / question archive / During 2019 Chanel, age 34 and Single, had the following transactions: Salary $ 80,000 1,000 Interest Income on Parish of Orleans Bonds Damages for personal injury (car accident) 100,000 Punitive Damages (same car accident) 200,000 Cash Dividends from Exxon Corporation stock 7,000 Itemized Deductions 12,100 What is Chanel's Taxable income? a

During 2019 Chanel, age 34 and Single, had the following transactions: Salary $ 80,000 1,000 Interest Income on Parish of Orleans Bonds Damages for personal injury (car accident) 100,000 Punitive Damages (same car accident) 200,000 Cash Dividends from Exxon Corporation stock 7,000 Itemized Deductions 12,100 What is Chanel's Taxable income? a

Finance

During 2019 Chanel, age 34 and Single, had the following transactions: Salary $ 80,000 1,000 Interest Income on Parish of Orleans Bonds Damages for personal injury (car accident) 100,000 Punitive Damages (same car accident) 200,000 Cash Dividends from Exxon Corporation stock 7,000 Itemized Deductions 12,100 What is Chanel's Taxable income? a. $274,800. O b. $274,900. O c. $187.000 d. $374,000

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Particulars Amount
Salary 80000
Punitive damages 200000
Cash dividend 7000
Less ; Itemized deduction -12100
   
Taxable Income 274900
   
Correct answer is option B - 274,900