Which of the following statements are true? (There are multiple correct answers)

Marvin was the beneficiary of a $45,000 group term life insurance policy on his wife. His wife's employer paid all of the premiums on the policy. Marvin used the life insurance proceeds to purchase a United States Government bond, which paid him $2,500 interest during the current year. Marvin's Federal gross income from the above is $2,500.

Sally works part-time as a waitress in a restaurant. For groups of 7 or more customers, the customer is charged 15% of the bill for Sally's services. For parties of less than 7, the tips are voluntary. Sally received $11,000 from the groups of 7 or more and $7,000 in voluntary tips from all other customers. Using the customary 15% rate, her voluntary tips would have been only $6,000. Sally must include $18,000 ($11,000 + $7,000) in gross income.

None of these statements are false.

For a person who is in the 35% marginal tax bracket, $1,000 of tax-exempt income is equivalent to $1,350 of income that is subject to tax.

None of these statements are true.