125 x 20 x $0.51 = ??
IRS rate = http://www.irs.gov/newsroom/article/0,,id=232017,00.html
Marion drives 20 miles a day from his first job to his second job. He worked 125 days during 2011 on both jobs. What is Marion's mileage deduction rounded to the nearest dollar assuming he uses the standard mileage rate and mileage is incurred ratably throughout the year?
A. $63
B. $1,250
C. $1,331
D. $1,463
is it D
6 answers
so its B?
I agree with B.
I think your course materials are about a year old. The 2010 rate was $0.50/mile, and that works out to B -- exactly!!
I think your course materials are about a year old. The 2010 rate was $0.50/mile, and that works out to B -- exactly!!
oh because i have posted three more questions and i cant seem to get the right numbers
Yes, look up the IRS rates for 2010.
Andy,
I came up with the answer.
2500 x .26= 650.
125 x .26= 32.50
2500 x .3250= 812.50
812.50+650= 1462.50.
I came up with the answer.
2500 x .26= 650.
125 x .26= 32.50
2500 x .3250= 812.50
812.50+650= 1462.50.