Taxes. The IRS allows an individual to deduct business
Chapter 10, Problem 55(choose chapter or problem)
Taxes. The IRS allows an individual to deduct business expenses in the following way: $0.45 per mile driven, 50% of entertainment costs, and 100% of actual expenses. Represent these deductions as a row matrix A. In 2006, Jamie had the following business expenses: $2700 in entertainment, $15,200 actual expenses, and he drove 7523 miles. Represent Jamies expenses as a column matrix B. Multiply these matrices to nd the total amount of business expenses Jamie can claim on his 2006 federal tax form: AB.
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