QUESTION 10 A bond sold at 98 means O the market rate is more than the stated rate the market rate is less than the stated rate the market rate and stated rate are the same QUESTION 11 If a taxpayer has a choice of receiving income in the current year versus the following year, which of the following tax rates is important in determining the year in which he should include the income? Marginal. Composite. Average Effective. QUESTION 12 If capital losses exceed capital gains, how much of the capital loss can be used to offset ordinary income in any one year? $0, it must be carried over to a year with capital gains. $1,000 $2,000 $5,000 O $3,000