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Problem 3-14 (LO3.4) Assume your other itemized deductions exceed the standard deduction amount. On December 30, you decide t
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Answer #1

a. Tax savings = Donation*Tax Rate = 2,200*27% = 594

b. Future Value = Tax Saving *(1+Rate)6 = 594*(1+7%)6= 594 * 1.501 = 891.59

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