An individual taxpayer earned $10,000 in investment income, $8,000 in noninterest investment expenses, and $5,000 in investment interest expense. How much is the taxpayer allowed to deduct on the current year's tax return for investment interest expenses?

Which of the following statements is true?

A) When investors' required rate of return equals the bond's coupon rate, then the market value of the bond may be selling at par value. B) When investors' required rate of return exceeds the bond's coupon rate, then the market value of the bond will be greater than par value. C) When investors' required rate of return is less than the bond's coupon rate, then market value of the bond will be greater than par value. D) When investors' required rate of return is less than the bond's coupon rate, then the market value of the bond will be less than par value.

Which of the following is the BEST example of ownership utility?

A) A law firm believes that it will be more profitable it if owns rather than leases its office space. B) A collectible item decreases in value over time. C) A store sells a swimsuit to a customer. D) A sporting goods store stocks ski equipment at the beginning of the winter season. E) A manufacturer purchases raw materials from a supplier to create products.