Moore, a single taxpayer, had $50,000 in adjusted gross income for 2017. During 2017, she contributed $18,000 to her church. She had a $10,000 charitable contribution carryover from her 2016 church contribution. What was the maximum amount of properly substantiated charitable contributions that Moore could claim as an itemized deduction for 2017?

a. $10,000
b. $18,000
c. $25,000
d. $28,000

Ans: c. $25,000

Business

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Evaluate the following project using an IRR criterion, based on an opportunity cost of 10 percent: CF0 = -6,000, CF1 = +3,300, CF2 = +3,300.

A) reject, since opportunity cost exceeds IRR. B) accept, since opportunity cost exceeds IRR. C) reject, since IRR exceeds opportunity cost. D) accept, since IRR exceeds opportunity cost.

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Which of the following is referred to as the brain of a computer?

A) cache memory B) operating system C) central processing unit D) random access memory

Business