QUESTION 1 During 2017, Anna had the following transactions: Salary $90,000 Interest income on IBM bonds 3,000 Damages for physical personal injury (car accident) 115,000 Punitive damages (same car accident) 150,000 Cash dividends from Chevron Corp Stock 5,000 Anna's AGI is: O a. $363,000. O b. $213,000. O c. $248,000. O d. $282,000. O e. $98,000.Abigail and Darcy are married. In 2017 they sold there home, which they had purchased in 2012, and lived in it since 2013. They sold the house for $865,000. They purchased the house for $270,000 and made improvements costing $45,000. Abigail and Darcy immediately purchased another home for $800,000. What is their recognized gain in 2017 from the sale of the home assuming this is the only home they ever sold? O a. $550,000 O b. $595,000 O c. $0 O d. $50,000 O e. None of the aboveJohn, a single taxpayer, sold his 2-family home, which he owned since June 10, 2007 for $850,000. During the time John owned the home, he lived in one apartment and rented the second apartment. Both apartments were of equal size. John purchased the home for $200,000. John made no improvements to the home, but he took depreciation expense every year on the rental unit. Total depreciation allowed was $61,820; however, total allowable depreciation was $77, 275. O a. $347,725 O b. $757,275 O c. $425,000 O d. $788,180 O e. None of the above QUESTION 21 What is John's recognized gain? O a. $363,280 O b. $175,000 O c. $347,725 O d. $477,275Barry sold depreciable property used in his business to Ken for $172,000 cash plus a bond redeemable in 5 years for $85,000, but currently trading on the NYSE for $78,000. The property cost Barry $320,000 plus $35,000 in capital improvements and had actual accumulated depreciation at the time of the sale of $205,000. The amount of accumulated depreciation he should have taken was $180,000. What is the recognized gain or loss? O a. $70,000 Loss O b. $100,000 Gain O c. $75,000 Gain O d. $22,000 Gain