Fluctuating interest rates cause coupon or interest payments to be reinvested at different interest rates over time.

An owner who has invested capital for the construction of a hospitality facility expects a return on the investment in the form of:

a. travel opportunities and transportation reimbursed b. operating profit and real estate appreciation c. project management opportunities and good budget control d. stocks and bonds

An itemized deduction of $500 with a 36 percent tax rate would reduce a person's taxes by

A) $500. B) $36. C) $464. D) $280. E) $180.