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Cecil cashed in a Series EE savings bond with a redemption value of $10,500 and...

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Accounting

Cecil cashed in a Series EE savings bond with a redemption value of $10,500 and an original cost of $7,350.

b. Assume the same facts in part (a), except Cecil plans to spend $3,150 of the proceeds to pay his sons tuition at State University, and Cecil estimates his modified adjusted gross income at $60,100.

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