$15.$Four years ago, Susan loaned $$7,000$ to her friend

Joe. During the current year, the $$7,000$ loan is

considered worthless. Explain how Susan should

treat the worthless debt for tax purposes.

$21.$Judy just obtained a patent on a new product she

has developed. Bell Corporation wishes to market

the product and will pay $12\%$ of all future sales

of the product to Judy. How can she be sure that

the payments received will be treated as a long$-$term capital gain?