$9.$ On July $15$ Carl received $50$ shares of stock as an inheritance from his father, who died April $15$ of that same year. His father's adjusted basis in the stock was $$50,000.$ The stock's fair market value on April $15$ was $$65,000.$ On July $15$ its value was $$70,000,$ and on October $15$ of that same year it was $$80,000.$ The alternate valuation date was not elected on the federal estate tax return. Carl's basis in the inherited stock is:

Group of answer choices

$$50,000.$

$$65,000.$

$$70,000.$

$$80,000.$

$10.$ Tom owns a C corporation called Tom's Trees. Tom's Trees owns $70\%$ of a C corporation called Mike's Mowers. Throughout the year, Mike$$s Mowers paid a $$50,000$ dividend to Tom$$s Trees. Assuming that Tom$$s Trees doesn$$t receive any other dividends from another corporation, how much will the dividends$$received deduction be$?$

Group of answer choices

$$0$

$$35,000$

$$40,000$

$$50,000$

$11.$ During the year, Harry paid the following interest charges:

Home mortgage

$$9,000$

Loan to purchase furniture

$ $800$

Home equity loan to purchase tax$$exempt municipal bonds

$ $750$

If Harry itemized deductions on his tax return, the amount of deductible interest expense is

Group of answer choices

$$1,550.$

$$9,000.$

$$9,750.$

$$9,800.$

$12.$ A client sued another persons for damages to his reputation. The client was awarded $$100,000$ in damages for harm to his good name. In addition, the court awarded the client with an additional $$50,000$ in punitive damages. How much of this income must be recognized on the client$$s tax return?

Group of answer choices

$$0$

$$50,000$

$$100,000$

$$150,000$