1.) Using a UCF graduate's current year tax data below, what is the adjusted gross income:

Wages= $55,000

Ordinary dividends = $1,000

Interest on municipal bonds = $2,000

Traditional IRA contribution = $3,000

Short term capital gain = $ 9,000

Alimony paid = $20,000

A.$42,000

B.$88,000

C.$40,000

D.$80,000

E.$46,000

2.) With respect to the taxability of corporate dividends paid to individuals and capital gains on stocks and bonds,

A.) Both dividends from corporations and capital gains are taxable to individuals

B.)	Both dividends from corporations and capital gains are non-taxable

C.)Capital gains are taxable, but dividends are tax-exempt since the corporation has already paid tax on its earnings before distributing the dividends

D.)	Dividends from corporations are taxable, but capital gains are tax-exempt