1:1-5 Carmen has computed that her average tax rate is 16% and her marginal tax rate is 24% for the current year. She is considering whether to make a charitable contribution to her church before the end of the tax year. Which tax rate is of greater significance in measuring the tax effect for her de cision? Explain. 1:1-13 A "good" tax structure has five characteristics. a. Briefly discuss the five characteristics. b. Using the five characteristics, evaluate the fol- lowing tax structures: 1. Federal income tax 2. State sales tax 3. Local ad valorem property tax 1:1-20 Discuss what is meant by the term "double taxa- tion" of corporations. Develop an example of dou- ble taxation using a corporation and shareholder. 1:2-3 a. Explain the distinction between a deduction and a credit. b. Which is worth more, a $10 deduction or a $10 credit? c. Explain the difference between refundable and nonrefundable credits. 1:2-19 a. Explain the principal difference in the tax treat- ment of an Scorporation and a C corporation. b. Why would a C corporation be used if an S corporation is generally exempt from tax? 1:2-15 Summarize the rules that explain which parent claims their children as dependents in cases of divorce