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7. Caroline has the following transactions related to her investments: (see page 4-19) Cash dividends Stock dividends (value) Municipal bond interest Stock dividends, but option

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7. Caroline has the following transactions related to her investments: (see page 4-19) Cash dividends Stock dividends (value) Municipal bond interest Stock dividends, but option to receive cash of $2,500 $1,000 $1,500 $3,000 How much is excluded from Caroline's gross income? a b. c. $1,500 $2,500 $6,500 $8,000 d

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