Check my work 36 Required information The following information applies to the q

Question

Check my work 36 Required information The following information applies to the questions displayed below.] Part 2 of 2 Nikki works for the Shine Company, a retailer of upscale jewelry. How much taxable income does Nikki recognize under the following scenarios? (Round your answers to 2 decimal places. Leave no answer blank. Enter zero if applicable.) Skipped eBook b. Nikki receives a 25 percent discount on jewelry restoration services offered by Shine Company. This year, Nikki had Shine Company repair a set of antique earrings (normal repair cost $750; discounted price $562.50) Print Taxable income

Explanation / Answer

Taxable income = (750-562.5)-(20%×750)=$37.5

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