Hugh, a self-employed individual, paid the following amounts during the year: real estate tax on iowa residence: 3,800state income tax: 1,700real estate taxes on land in puerto rico (held as an investment): 1,100gift tax paid on gift to daughter: 1,200state sales taxes: 1,750state occupational license fee: 300property tax on value of his automobile (used 100% for business): 475what is the maximum amount hugh can claim as taxes in itemizing deductions from agi? (a) $6,600(b) $6,650(c) $7,850(d) $8,625(e) none of the above

Will you use single-entry bookkeeping or double-entry bookkeeping? explain why.

Auniversity spent $1.8 million to install solar panels atop a parking garage. these panels will have a capacity of 400 kilowatts (kw) and have a life expectancy of 20 years. suppose that the discount rate is 20%, that electricity can be purchased at $0.10 per kilowatt-hour (kwh), and that the marginal cost of electricity production using the solar panels is zero. hint: it may be easier to think of the present value of operating the solar panels for 1 hour per year first. approximately how many hours per year will the solar panels need to operate to enable this project to break even? a. a.3,696.48 b.14,785.92 c.9,241.20 if the solar panels can operate only for 8,317 hours a year at maximum, the project (would/would not)break even?

4. suppose that pollution in a neighborhood comes from two factories, with marginal benefit curves given by mb1 = 12 – p1 and mb2 = 8 – p2. the level of pollution in the neighborhood is given by p = p1 + p2. the government wants to limit pollution by instituting a pollution-rights market. the government’s desired level of p is 10, so it prints 10 pollution rights and offers them for sale to the firms. a)find the equilibrium selling price of a pollution right, as well as the allocation of rights (and hence pollution levels) across the two factories. b)repeat part (a) for the case where the government’s desired level of pollution equals 14. c)comment on the usefulness of a pollution rights market in achieving efficient levels of pollution abatement.