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Ch 5 Problems i Saved Help Save & Exit Submit Check my work 4. Part 1 of 2 Required information [The following information applies to
Ch 5 Problems i Saved Help Save & Exit Submit Check my work 4. Part 1 of 2 Required information [The following information applies to the questions displayed below.] 2.77 points Nikki works for the Shine Company, a retailer of upscale jewelry. How much taxable income does Nikki recognize under the following scenarios? (Round your answers to 2 decimal places. Leave no answer blank. Enter zero if applicable.) eBook Print References a. Nikki buys a diamond ring from Shine Company for $13,700 (normal sales price, $18,390; Shine Company's gross profit percentage is 40 percent). Taxable income b. Nikki receives a 35 percent discount on jewelry restoration services offered by Shine Company. This year, Nikki had Shine Company repair a set of antique earrings (normal repair cost $915; discounted price $594.75). Taxable income
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