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Business, 12.11.2019 04:31 luckyalita

Freddy purchased a certificate of deposit for $20,000 on july 1, 2017. the certificate's maturity value in two years (june 30, 2019) is $21,218, yielding 3% before-tax interest. a. freddy must recognize $1,218 gross income in 2017.b. freddy must recognize $1,218 gross income in 2019.c. freddy must recognize $600 (.03 × $20,000) gross income in 2019.d. freddy must recognize $300 (.03 × $20,000 × .5) gross income in 2017.e. none of these.

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Freddy purchased a certificate of deposit for $20,000 on july 1, 2017. the certificate's maturity va...

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