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Renee manufactured and sold a gadget, a specialized asset used by auto manufacturers that qualifies for the domestic production activities deduction. Renee incurred $18,

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Renee manufactured and sold a "gadget, " a specialized asset used by auto manufacturers that qualifies for the domestic production activities deduction. Renee incurred $18, 300 in direct expenses in the project, which includes $4,000 of wages Renee paid to employees in the manufacturing of the gadget. What is Renee's domestic production activities deduction for the gadget in each of the following alternative scenarios? a. Renee sold the gadget for $25, 700 and she reported AGI of $93, 700 before considering the manufacturing deduction. b. Renee sold the gadget for $31,000 and she reported AGI of $6, 200 before considering the manufacturing deduction. c. Renee sold the gadget for $48, 200 and she reported AGI of $65, 500 before considering the manufacturing deduction

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