According to the CIA's World Factbook, in 2015 the tiny country of Equatorial Guinea had the highest GDP per capita in Africa (over $20,000 per year), higher than more developed countries such as Morocco, Egypt, and South Africa. But despite having higher significant overall income from the sale of its natural resources, Equatorial Guinea has extreme poverty, with half of its population lacking clean drinking water and one of the highest infant mortality rates in the world. How can a country that has the highest GDP per capita be one of the least desirable places to live on the planet for the average citizen

Jacob is a member of wcc (an llc taxed as a partnership). jacob was allocated $155,000 of business income from wcc for the year. jacob’s marginal income tax rate is 37 percent. the business allocation is subject to 2.9 percent of self-employment tax and 0.9 percent additional medicare tax. (round your intermediate calculations to the nearest whole dollar a) what is the amount of tax jacob will owe on the income allocation if the income is not qualified business income? b) what is the amount of tax jacob will owe on the income allocation if the income is qualified business income (qbi) and jacob qualifies for the full qbi duduction?