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Clay Incurs $5,000 of Investment Expenses Related to Purchasing Renco

Question 45

Multiple Choice

Clay incurs $5,000 of investment expenses related to purchasing Renco Company stock and New Orleans municipal bonds.He receives $6,000 of dividends on the stock and $14,000 of interest on the bonds.The amount of investment expense Clay can deduct is:


A) $- 0 -
B) $1,500
C) $2,500
D) $3,500
E) $5,000

Correct Answer:

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