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Nancy is a popular photographer in her area and she typically charges $85 for a photo session. Daniel is an accountant who charges $70 per
Nancy is a popular photographer in her area and she typically charges $85 for a photo session. Daniel is an accountant who charges $70 per hour to complete a tax return. Nancy would like to have her tax return prepared and wants to exchange her photography services for Daniel's work on her tax return. Daniel estimates that it will take about 4 hours to complete the tax return. They agree to four photo sessions of Daniel's children. How much income, if any, must Nancy include in her income?
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