11. (TCOs 2, 8, & 9) Trigger Inc. provides group term life insurance only to the officers of the corporation. Carlota, a vice president, received $250,000 of coverage for the year at a cost to Trigger Inc. of $1,600. The uniform premiums (based on Carlota's age) are $6 a year for $1,000 of protection (i.e., $1,500 for Carlota). How much must Carlota include in gross income this year? (Points : 5) $0 $1,200 $1,500 $1,600 None of the above 12. (TCOs 2 & 11) Judy, a calendar year cash basis taxpayer, owns and operates several TV rental outlets in North Carolina and wants to expand into the TV rental business in South Carolina and Georgia. During 2009, she spends $30,000 to investigate TV rental businesses in South Carolina and $15,000 to investigate TV rental businesses in Georgia. She acquires the South Carolina operations, but not the outlets in Georgia. As to these expenses, Judy should: (Points : 5) amortize $30,000 over 60 months and capitalize $15,000. expense $45,000 for 2009. expense $15,000 for 2009 and capitalize $30,000. capitalize $45,000. None of the above