Answer the following questions.

Other receipts for the couple were as follows: Dividends (all qualified dividends) $2.500 Interest income: Union Bank $ 220 State of Idaho-interest on tax refund 22 City of Boise school bonds 1.250 Interest from U.S. savings bonds 410 (not used for educational purposes) 2017 federal income tax refund received in 2018 2,007 2017 state income tax refund received in 2018 218 Idaho lottery winnings 1.100 Casino slot machine winnings 2,250 Gambling losses at casino 6.500 Other information that the Reyeses provided for the 2018 tax year. Mortgage interest on personal residence $11.081 Loan interest on fully equipped motor home 3.010 Doctor's fee for a face-lift for Mrs. Reyes 8.800 Dentist's fee for a new dental bridge for Mr. Reyes 3,500 Vitamins for the entire family 1 10 Real estate property taxes paid $ 5,025 DMV fees on motor home (tax portion) 1.044 DMV fees on family autos (tax portion) 436 Doctors' bills for grandmother 2,960 Nursing home for grandmother 10,200 Wheelchair for grandmother 1.030 Property taxes on boat 134 Interest on personal credit card 550 Interest on loan to buy public school district bonds 270 Cash contributions to church (all the contributions 6.100 were in cash and none more than $250 at any one time) Cash contribution to man at bottom of freeway off-ramp 25 Contribution of furniture to Goodwill-cost basis 4,000 Contribution of same furniture to listed above Goodwill-fair market value 410 Tax return preparation fee for 2017 taxes 625 Required Prepare a Form 1040 and appropriate schedules, Schedule A, and Schedule B for the comple- tion of the Reyes's tax return. They do not want to contribute to the presidential election cam- paign and do not want anyone to be a third-party designee. For any missing information, make reasonable assumptions. They had qualifying health coverage at all times during the year.Question 13 Not yet answered Marked out of 1 P Flag question Your company is considering the purchase of a fleet of cars for $195,000. It can borrow at 8.5%. The cars will be used for four years. At the end of four years they will be worthless. The corporate tax rate is 34%. The cars belong in CCA class 10 (a 30% class). What is the break-even lease payment? Select one: a. $55,000 b. $57.705 c. $47.328 d. $56,128 Ce. $35.675 Question 14 Not yet answered Marked out of 1 P Flag question A firm has a WACC of 12%. It is financed with 40% debt and 60% equity. The firm's cost of debt is 10% and its tax rate is 40%. What is the cost of equity? Select one: a. 10% b. 14% c. 12% d. 16% e. 18%Suppose the demand and supply for milk in the European Union (EU) is given by p = 124 - 0.7Q" and p = 7 + 0.2Q5, where the quantity is in the millions of liters and the price is in cents per liter, Assume that the EU does not import or export milk. (Note: 100 cents = 1 euro.) (a) Find the market equilibrium quantity, Q*, and equilibrium price, p*. millions of liters cents per liter (b) Find the consumer and producer surplus at the market equilibrium. (Round your answers to two decimal places.) consumer surplus million euros producer surplus million euros (c) The European farmers successfully lobby for a price floor of p = 40 cents per liter. What will be the new quantity sold in the market, Q? Q =[ millions of liters (d) Find the new consumer and producer surplus after the price floor. (Round your answers to two decimal places.) consumer surplus million euros producer surplus million euros (e) What is the deadweight loss from the price floor? (Round your answer to two decimal places.) million euros (f) If the EU authorities were to buy the surplus milk from farmers at the price floor of 40 cents per liter, how much would they spend in millions of euros? (Round your answer to two decimal places.) million euros