1. Complete the missing items in the federal tax calculations. (4 points) Total income Minus___________ Equals AGI Minus___________ Or______________ Equal taxable income X tax rate Equal Preliminary Tax Minus___________ Equal Total tax owed

2.How are taxable dividends and capital gains treated under the federal income tax?

3. The graduated federal income tax has ___________marginal tax brackets with the lowest rate of ____________ and the highest of ____________

4. Overall asset risk includes several different risks depending on the type of investment and other factors. Identify and describe the major risks that may be present (10 points