1. Sam itemizes deductions, has a 16% average tax rate, and pays a 24% marginal tax rate. What is his cost of a $3500 charitable donation?

A) $2940

B) $2660

C) $3500

D) $0

2. Kenneth has an adjusted gross income of $114000. His Schedule A expenses were as follows:

		Interest on home mortgage, $12500
		Property taxes on home, $4000
		State income tax, $8000
		Charitable contributions, $1000

What will he be able to claim for total itemized deductions?

A) $23500

B) He should take the standard deduction.

C) $13500

D) $25500