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On January 1 , 2 0 2 2 , Kunto, a cash basis taxpayer, pays $ 4 9 , 9 2 6 for a 2
On January Kunto, a cash basis taxpayer, pays $ for a month certificate of deposit. The certificate is priced to yield the effective interest rate with interest compounded annually. No interest is paid until maturity, when Kunto receives $
Round all calculations to the nearest dollar.
a Compute Kunto's gross income from the certificate for
$fill in the blank
wrong
b Compute Kunto's gross income from the certificate for
$fill in the blank
wrong
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