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Question Completion Status: QUESTION 31 in a Defined Benefit Pension Plan: the plan decides on...

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Question Completion Status: QUESTION 31 in a Defined Benefit Pension Plan: the plan decides on the annual payment to be made to the plan each year the contributions for older workers generally will be higher than for younger workers at similar income levels the internal Revenue Code specifies the maximum dollar of contribution to be funded all of the above none of the above QUESTION 32 john uses lower of cost or market reporting in his business. A machine in inventory was purchased for $25,000 on February 19, 2017 and still valued at $25,000 at year end 12/31/17. On 12/31/18 the value of the machine dropped to $20,000. As of 12/31/19 the machine was worth $28,000. Its inventory valuation for cost of goods sole purposes on 12/31/19 was: $28,000 O $20,000 O $25,000 $18,000 None of the above QUESTION 33 Sydney is an art collector who sells a piece of art held from his collection for a $10 million long-term capital gain. This long-term capital gain will be taxed at a maximum capital gains rate of 20% True False Chick Save and Submit to save and submit. Click Save All Answers to save all answers 16

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