1) In 2017 the exemption amount is $0 and the standard deduction for single taxpayers is $12,000. In 2017, Jim is single, has salary income of $40,000 and paid $2,000 of interest on a qualified educational loan.Jim's AGI and taxable income are:

2) The total revenues of Company Z come from the sale of two products. 60% come from Product One and 40% come from Product Two. For both products, the company incurs $12,000 of fixed costs. The contribution margin ratios are 20% and 50%, for Product One and Product Two, respectively. What is the level of total revenues that Company Z must earn in order to breakeven?