Question

Bailey, a single taxpayer, obtains permission to change from a calendar year to a fiscal year ending June 30, 2019. During the six months ending June 30, 2019, she earns $40,000 and has $8,000 of itemized deductions. What is the amount of her annualized income?

a.$32,000

b.$28,000

c.$64,000

d.$56,000

Answer 1

Correct option is c.$64,000

Step-by-step explanation:

given data

earn = $40,000

deductions = $8,000

time = 6 month

solution

we get here amount of her annualized income that is express as

amount of her annualized income = ( earn - deduction ) × time duration

amount of her annualized income = ( $40,000 - $8,000 ) ×
`(6)/(12)`

amount of her annualized income = $64,000

so correct option is c.$64,000