ACTG 3400 Tax Research Assignment #1 The primary purpose of this assignment is for you to practice navigating the Internal Revenue Code in a tax research database. Your answers will be brief. You should be able to address each issue in just a few sentences. You will find the answers you need by referencing only the Internal Revenue Code. Your responses should sound professional. Use proper grammar and appropriate sentence structure. Your responses should reference (cite) the specific part of the Code section you are relying on to answer the questions presented in the problems. 5. Cathy Coed is a full-time senior student at Big Research University (BRU). Cathy is considered by most as a brilliant student and has been given a $35,000-per-year scholarship. In the current year, Cathy pays the following amounts to attend BRU: Tuition $26,000 Required lab fees $300 Required books and supplies $1,000 Room and board $7,500 What are the tax consequences (i.e., how much is included in gross income) of the $35,000 current year's scholarship to Cathy