Answer: The amount of money that they were paid for the high school prom. This is because that's the amount that has been sent on the band.
Explanation:
From the question, we are informed that Cracked Mirror, a local rock group, contracts to play for your high school prom and that a week before the
dance, the group cancels its appearance.
We are further told that a teacher finds out that the band has instead booked a
concert elsewhere at the same time as the prom that will pay them $800 more.
Based on the above information, if the band for damages, the appropriate amount would be the amount that they were paid for the high school prom. This is because that's the amount that has been sent on the band.
Citizens are allowed to act in their own self-interest when given __________. A. job security B. political stability C. economic freedom D. government restrictions
Answer:
c
Explanation:
Answer:
C.Job security
Explanation:
did the quiz edge 2020
The use of which tool of the Federal Reserve has the smallest impact on money supply levels?a. Open market operationsb. Discount ratec. Reserve requirementsd. Margin on securities
Answer: d. Margin on securities
Explanation:
Margin Requirements on securities are collateral that a trader must keep when they want to borrow money. The Fed can control money supply using this by increasing the margin requirement which would reduce the amount that the trader will have to trade with thereby reducing money supply.
This represents the least effective monetary tool of the 4 options listed for the simple reason that it mainly affects the stock market which is although big, is not big enough to match the influence of the other instruments of monetary policy.
The key principle of supply chain management can be best summed up as ________ between multiple firms.
Answer:
Collaboration.
Explanation:
Supply chain management can be defined as the effective and efficient management of the flow of goods and services as well as all of the production processes involved in the transformation of raw materials into finished products that meet the insatiable want and need of the consumers. Generally, the supply chain management involves all the activities associated with planning, execution and supply of finished goods and services to the consumers.
The key principle of supply chain management can be best summed up as collaboration between multiple firms. These multiple firms include a company that is saddled with the responsibility of manufacturing, a wholesaler, and a retailer who typically sells the products to the customers or consumers.
Basically, these three (3) firms or individuals are required to collaborate with each other so as to meet the needs of the customers in a timely manner or fashion and at a fair price too.
Co. was organized to sell a single product that carries a 45-day warranty against defects. Engineering estimates indicate that % of the units sold will prove defective and require an average repair cost of per unit. During 's first month of operations, total sales were units; by the end of the month, defective units had been repaired. The liability for product warranties at month-end should be
Answer:
$660 (credit balance)
Explanation:
the question is missing the numbers, so I looked for a similar one:
4% of units will be defectiveaverage repair cost of $201,100 units sold during the first month11 defective units were repairedThe journal entry to record warranty liability:
Dr Warranty expense 880
Cr Warranty liability 880
the journal entry to record actual money spent repairing defective units:
Dr Warranty liability 220
Cr Cash 220
the balance of the warranty liability account at the end of the month = $880 - $220 = $660
To realize his passion,Alex recently opened Original Tunes,Inc. ,a small state of the art recording studio in Nashville,TN.He probably could have set-up shop in several major cities,but Nashville offered him the two most important factors that he learned in business school would enhance the creation of wealth: labor and political freedom.
a. True
b. False
Answer:
a. True
Explanation:
Indeed, we could rightly say the statement is true by remembering the four key factors of production (business):
capital (wealth)laborresourcesentrepreneur.Labor is part of the list of important factors and political freedom allows the entrepreneur to sucessfully manage business activities.
Transactions Simmons Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Michael Short, Capital; Michael Short, Drawing; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense.
Oct. 1. Paid rent for the month, $6,000.
3. Paid advertising expense, $3,820.
5. Paid cash for supplies, $1,640.
6. Purchased office equipment on account, $25,100.
10. Received cash from customers on account, $8,180
15. Paid creditors on account, $2,400.
27. Paid cash for miscellaneous expenses, $1,040,
30. Paid telephone bill (utility expense) for the month, $380.
31. Fees earned and billed to customers for the month, $54,500.
31. Paid electricity bill (utility expense) for the month, $650.
31. Withdrew cash for personal use, $4,100.
Journalize the selected transactions for October 2013. If an amount box does not require an entry, leave it blank.
20Y3 Oct. 1 Rent Expense 6,000
Cash
20Y3 Oct. 3 Advertising Expense 3,820
Cash
2013 Oct. 5 Supplies 1,640 20Y3
Cash
20Y3 Oct. 6 Office Equipment 25,100
Accounts Payable
20Y3 Oct. 10 Cash 8,180
Accounts Receivable
20Y3 Oct. 15 Accounts Payable
Cash
20Y3 Oct. 27 Miscellaneous Expense 1,040
Cash
20Y3 Oct. 30 Utilities Expense 380
Cash
20Y3 Oct. 31: Accounts Receivable
Fees Earned
20Y3 Oct. 31: Utilities Expense 650
Cash
2013 Oct. 31: Utilities Expense 650
Cash ID
20Y3 Oct. 31: Michael Short, Drawing
Cash
Answer:
Journal Entry
Date Account Title and Explanation Debit Credit
Oct 1 Rent expense $6,000
Cash $6,000
( Being rent paid in cash)
Oct 3 Advertising expense $3,820
Cash $3,820
(Being advertising expenses paid)
Oct 5 Supplies $1,640
Cash $1,640
(Being cash paid to suppliers)
Oct 6 Office equipment $25,100
Accounts Payable $25,100
(Being office equipment purchased on credit)
Oct 10 Cash $8,180
Account Receivable $8,180
(Being amount received from customers)
Oct 15 Accounts Payable $2,400
Cash $2,400
(Being amount paid to creditors)
Oct 27 Miscellaneous expense $1,040
Cash $1,040
(Being miscellaneous expenses paid)
Oct 30 Utility expense $380
Cash $380
(Being expenses paid in cash)
Oct 31 Account Receivable $54,500
Fee earned $54,500
(Being fee earned and charge to customers)
Oct 31 Electricity expense $650
Cash $650
(Being amount paid for electricity)
Oct 31 Michael short, Drawing $4,100
Cash $4,100
(Being amount paid for Micheal short)
How much money should Timothy and Tiffany deposit annually for 20 years in order to provide an income of $30,000 per year for the next 10 years? Assume an interest rate is a constant 4%
Answer:
$8,171.37
Explanation:
first we must find the value of their account before they start receiving the distributions, (i.e. how much money they need to have in 20 years):
present value = annual payments x annuity factor
annual payments = $30,000annuity factor (PV, 4%, 10 periods) = 8.1109present value = $30,000 x 8.1109 = $234,327
now we need to calcualte the annual contribution in order to have $234,327 in 20 years:
future value = annual payment x annuity factor
annual payment = future value / annuity factor
future value = $234,327annuity factor (FV, 4%, 20 periods) = 29.778annual payment = $234,327 / 29.778 = $8,171.37
Answer: $8,171.44
Explanation:
The present value of the income of 10 years now is the future value of the payments in 20 years.
The present value is therefore;
= 30,000 * Present value of annuity interest factor, 4%, 10 years
= 30,000 * 8.111
= $243,330
As $243,330 is the future value of the payments in 20 years.
The payment is therefore;
243,330 = Payment * Future value of annuity interest factor, 4%, 20 years
243,330 = Payment * 29.7781
Payment = 243,330/29.7781
= $8,171.44
"A married couple, where both individuals work, earns in excess of $124,000 in year 2020. Both individuals are covered by qualified retirement plans. Which statement is TRUE regarding contributions to Individual Retirement Accounts for these persons?"
Answer:
The question is not complete. Let me explain Individual Retirement Accounts (IRA)
Explanation:
There are two types of Individual Retirement Accounts (IRA). These are the Roth IRA and the Traditional IRA.
The maximum contributions allowed to Roth IRAs for 2020 are $6,000 for investors younger than 50 and $7,000 for investors older than 50.
If you’re single and you have no workplace plan, or if you’re married and neither you nor your spouse has a workplace plan, you may fully deduct your IRA contribution--regardless of your income. However, if you don’t have an employer-sponsored plan, but your spouse has one, you may deduct the full amount if you’re married filing jointly, and your modified adjusted gross income (MAGI) is $196,000 or less.
For Traditional IRA, married couples filing jointly can take the full deduction if they make less than $104,000. If you collectively earn between $104,000 and $124,000, you can take a partial deduction. And if you earn more than $124,000, you may not deduct anything.For Roth IRA, single filers with modified adjusted gross income (MAGIs) ranging between $124,000 to $139,000 may contribute a reduced amount.Traditional IRAs are funded with pre-tax dollars, this means that you can write off the contribution during the year you make it. But this is governed by numerous factors.
The distinguishing feature of economic capital (as opposed to financial capital, like money) is that it is:__________. a. expensive. b. profitable. c. productive.
Answer:
C. Productive
Explanation:
The distinguishing feature of economic capital (as opposed to financial capital, like money) is that it is productive. Thus, option 'C' is the correct option.
What is economic capital?Economic capital is the sum of money employed by a company to safeguard itself against risk, its effects, and any losses brought on by unanticipated risk. It is a gauge of a company's solvency. Economic capital is thought of as a way for a company to protect itself against risks related to its operations, legislative changes, economic factors, and market volatility.
Economic capital determines a firm's operational and market risks. In many cases, the anticipated risk is transformed into capital, which provides a clear picture of a firm's solvency. Capital in finance is frequently described in monetary terms. Financial capital is made up of two parts: debt and equity. The debt-to-equity ratio indicates a company's financial health.
Learn more about economic capital, here:
https://brainly.com/question/1395585
#SPJ2
Unlike tangible goods,virtually all services are susceptible to inconsistency and variations in quality.Why is this so?A) Because services depend on people for their delivery.B) Because services cannot be managed due to their intangibility.C) Because services are extremely time-and-place dependent.D) Because service marketers cut corners to reduce expenses.E) Because service marketers make unrealistic promises to customers.
Answer:
A) Because services depend on people for their delivery.
Explanation:
Given that the same or similar type of services are or can be carried out by various personnel, and the level of quality of the rendered services is dependent on the skills and professionalism of the person who rendered such services.
Hence, Unlike tangible goods, virtually all services are susceptible to inconsistency and variations in quality, because services depend on people for their delivery.
Therefore, the right answer is Option A. the
Business ethics week 8 assignment 4
Suppose you take a short position of 1 million USD in the USD- MXN at 22.4015. What is the flow of MXN in your accounts
Answer:
22,401,500 MXN exit from account
Explanation:
Given:
MXN at 22.4015
Amount = $1,000,000
MXN at short position
Find:
Flow of MXN
Computation:
MXN at short position so, flow is exit
MXN exit = 1,000,000 × 22.4015 )
22,401,500 MXN exit from account
Transactions that affect earnings do not necessarily affect cash. Identify the effect, if any, that each of the following transactions would have upon cash and net income. The first transaction has been completed as an example. (If an amount reduces the account balance then enter with negative sign preceding the number e.g 15,000 or parentheses e.g. (15,000). Cash $-133 Net Income $0 (a) Purchased $133 of supplies for cash. (b) Recorded an adjusting entry to record use of $31 of the above supplies. (c) Made sales of $1,297, all on account. (d) Received $865 from customers in payment of their accounts. (e) Purchased equipment for cash, $2,528 (f) Recorded depreciation of building for period used,
Answer and Explanation:
The identification of the given transactions are as follows
Item cash net income
a -$133 -
Since the cash is paid so it would be shown in negative and no impact on the net income
b - -$31
Here the adjusting entry is passed for supplies so the expenses are increased which ultimately reduced the net income
c - $1,297
Since the sale is made so the same should be shown in the net income
d $865 -
Since cash is received so it shown in the positive amount
e -$2,528 -
Since the cash is paid so it would be shown in negative and no impact on the net income
f - -$610
Since there is depreciation, the expenses are increased which ultimately reduced the net income
For most high-income countries of the world, GDP _________________ over time.
Answer:
For most high-income countries of the world, GDP HAS INCREASED GRADUALLY over time.
Explanation:
Both GDP and GDP per capita has increased for almost all high income countries. Actually the only country in the world that was once rich and had a very high GDP and GDP per capita that turned into a developing country (AKA poor country) is Argentina. It is a unique case in all the world, since Argentina had the highest GDP per capita for 2 years (1895 and 1896) and continued to have a relatively high GDP per capita more than 60 years. Then political turmoil and corruption resulting in it falling from number one spot to number 73.
Use the starting balance sheet and the list of changes to create an updated balance sheet.Valley TechnologyBalance SheetAs of December 31, 2017(amounts in thousands)Cash 22,000 Liabilities 36,000Other Assets 28,000 Equity 14,000Total Assets 50,000 Total Liabilities & Equity 50,000Valley TechnologyIncome StatementJanuary 1 to March 31, 2018(amounts in thousands)Revenue 7,200Expenses 3,600Net Income 3,600Between January 1 and March 31, 2018:
1. Cash decreases by $200,000
2. Liabilities decrease by $100,000
3. Paid-In Capital does not change
4. Dividends paid of $400,000
What is the value for Other Assets on March 31, 2018?
Answer:
$31,300,000
Explanation:
cash account balance = 22,000,000 - 200,000 (cash decrease) = 21,800,000
total liabilities balance = 36,000,000 - 100,000 (decrease in liabilities) = 35,900,000
equity balance = 14,000,000 - 400,000 (dividends) + 3,600,000 (net income) = 17,200,000
total assets = 35,900,000 + 17,200,000 = 53,100,000
other assets = total assets - cash = 53,100,000 - 21,800,000 = 31,300,000
Each time a state legislature enacts a law that applies the assumption of risk doctrine to a particular sport, participants in that sport suffer. Fully explain your position and what this statement means to you?
Answer and Explanation:
The assumption of risk doctrine in law is the idea that a person who would normally compensate a victim for damages such as accident injuries would not under this doctrine since it is of the view that risk of loss in the case of injury in sports will not be compensated for by the person who caused such injury.
From the question, this would make people who participate in the sports which has assumption of risk doctrine suffer because there would be no compensation to any victims of injury by the person who caused the injury
What is the importance of the Define Phase in terms of its placement in the DMAIC method?
a. It provides the data collection prior to data analysis
b. It clarifies the problem, the process and the customer of the process prior to data collection
c. It provides monitoring of the solution in order to sustain the gains
d. It takes the data and process analysis into account in order to develop solutions
Answer:
b. It clarifies the problem, the process and the customer of the process prior to data collection
Explanation:
DMAIC is an acronym for various phases in carrying out projects and they are Define, Measure, Analyze, Improve, Control.
The Define phase is widely known as the primary phase of DMAIC which is characterized by the project agreement, customer demands and requirements, and process operation strategy.
Hence, the importance of the Define Phase in terms of its placement in the DMAIC method is that " it clarifies the problem, the process and the customer of the process prior to data collection"
Zwick Company bought 28,000 shares of the voting common stock of Handy Corporation in January 2018. In December, Handy announced $200,000 net income for 2018 and declared and paid a cash dividend of $2 per share on all 200,000 shares of its outstanding common stock. Zwick Company's dividend revenue from Handy Corporation in December 2018 would be:
Answer:
Zwick Company's dividend revenue = $56,000
Explanation:
Given:
Shares by Zwick Corporation = 28,000
Handy announced dividend per share = $2
Find:
Zwick Company's dividend revenue
Computation:
Zwick Company's dividend revenue = Shares by Zwick Corporation × Handy announced dividend per share
Zwick Company's dividend revenue = 28,000 × $2
Zwick Company's dividend revenue = $56,000
Arbitrage is the purchase of assets or commodities on one market for immediate resale on another in order to profit form a price discrepancy.
A. True
B. False
Answer:
A. True
Explanation:
Arbitrage is a term that describes an activity or operation of making transactions of any of securities, currency, or commodities in various markets. The main purpose is to derive benefits or gets profits from the varying prices of those commodities and assets when resold.
Hence, it is TRUE that Arbitrage is the purchase of assets or commodities on one market for immediate resale on another in order to profit form a price discrepancy.
Deanne is a vocal critic of socialism. She likes to point out that in recent years the governments in many socialistic nations have cut back on government services and have reduced taxes. Deanne believes that this trend will ultimately result in all nations adopting pure capitalistic ideals. Recent evidence suggests that Deanne's views are essentially correct.
a. True
b. False
Answer: False
Explanation:
Socialism is a theory that posits that production, and distribution, of goods and services should be in charge of the government. This is quite different from capitalism which advocates for the individuals to be in charge.
Even though it is true that governments of many socialistic nations have cut back on government services and have reduced taxes, this doesn't mean that all nations are adopting pure capitalistic ideals according to Deanne.
She's incorrect because there are still some elements of socialism and government interference, hence, such economies are regarded as mixed economies as they've attributes of both capitalism and socialism.
Deanne's observations is untrue as government involvement in free market economies is being ignored by her.
Yolo Windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars):
Information on January 1 (Beginning):
Direct materials inventory $ 36
Work-in-process inventory 48
Finished goods inventory 656
Information for the year:
Administrative costs $ 1,440
Direct labor 4,240
Direct materials purchases 3,280
Factory and machine depreciation 4,640
Factory supervision 840
Factory utilities 360
Indirect factory labor 1,120
Indirect materials and supplies 280
Marketing costs 600
Property taxes on factory 112
Sales revenue 18,160
Information on December 31 (Ending):
Direct materials inventory $ 32
Work-in-process inventory 56
Finished goods inventory 588
Required:
Prepare an income statement with a supporting cost of goods sold statement. (Enter your answers in thousands of dollars (i.e., 234,000 should be entered as 234).)
Answer:
Income Statement
Sales Revenue $ 18,160
Less Cost of Goods Sold ($14,936)
Gross Profit $3,224
Less Expenses :
Administrative costs $ 1,440
Marketing costs $ 600 ($2,040)
Net Income / (Loss) $ 1,184
Explanation:
Cost of Goods Sold Statement
Beginning Finished goods inventory $ 656
Add Cost of Goods Manufactured $ 14,868
Less Ending Finished goods inventory ($ 588)
Cost of Goods Sold $14,936
Cost of Goods Manufactured
Direct Materials ($ 36 + $ 3,280 - $ 32) $3,284
Direct labor $ 4,240
Factory and machine depreciation $ 4,640
Factory supervision $ 840
Factory utilities $ 360
Indirect factory labor $ 1,120
Indirect materials and supplies $ 280
Property taxes on factory $ 112
Add Beginning Work-in-process inventory $ 48
Less Ending Work-in-process inventory ($ 56)
Cost of Goods Manufactured $14,868
Pros and cons of working in the food service industry???
Answer: Yes and No
Explanation: Pros: You can own your own. Get to be the boss. Get a lot of money. Get to have fun.
Cons: You can have the lowest paycheck. Worst job for it.
ustine was interested in learning how to play the piano. She has been playing some basic songs, but still gets a lot of help from her teacher. What stage of ability development is Justine at? a. Novice b. Apprentice c. Master d. Mentor
Answer is Apprentice.
Explanation: The definition of an apprentice is someone who provides help to a skilled worker in order to learn the trade himself. Justine is being trained by a skilled pianist. Thus, brings us to the conclusion that Justine is in the state of an apprentice.
Thank you for your time, I hope you pass the test. Please consider to mark brainliest if confirmed correct.
A certain company has an acid test ratio of 0.97. This implies which of the following?1. Current liabilities are less than the quick assets of the company.
2. Current liabilities are greater than the quick assets of the company.
3. Current liabilities are greater than the current assets of the company.
4. Current liabilities are less than the current assets of the company.
Answer: 2. Current liabilities are greater than the quick assets of the company.
Explanation:
The acid-test ratio is a method of checking if the company has enough quick assets ( most liquid current assets) to enable it cover its current liabilities.
It is calculated by dividing the current assets less the inventory by the current liabilities. A ratio of 0.97 therefore means that the denominator which are the current liabilities are more than the quick assets of the company.
A college student determines that he will have only $200 per month available for his housing for the coming semester. He is determined to continue in the university, so he has decided to list all feasible alternatives for housing.Required:List five feasible alternatives.
Answer:
Following are the description of the given points:
Explanation:
He needs to seek temporary accommodation, even so, he must not be too much further away from family, or else the costs of the trip would recompense its cheap housing. He needs to purchase a few of his blogs, which might not be used in the long term, like clothing, teaching materials not being used, etc. He can also start taking a bank loan. He may ask the college authorities to waive his college fees to some degree or provide free lodging because he's such a college. They can always take loans through school friends but I feel it's the most convenient option, so once you have extra cash, you could refund it.forest management defination
Answer:
It is the process of controlling the use or exploitation of forested land.
Answer:
the people who works to preserve and protect the animal and forest is called forest manager
Should leadership be the manager's job or should leadership be a shared process?
Answer:
leadership be a shared process
Explanation:
Leadership may be defined as when a person leads to a particular group or a community. Leader always motivate to people for the purpose so that they can achieve the goal in a particular period of time. On the other hand an organization have always leader so that high authority gives responsibility to a leader for achieving the goal with the help of directing their employees.
Therefore leadership should be a shared process as leader need to corporate their employees.
Angelina is hired to work for Pupco Inc. for two years. Which of the following is true?A. Angelina has the right to quit after six months.
B. Pupco has the right to fire Angelina after six months.
C. Pupco has the power to fire Angelina after six months.
D. Two of these. E. None of these.
Answer:
B. Pupco has the right to fire Angelina after six months.
Explanation:
Angelina as the employee, can decide when to quit freely and Pupco as the employer cannot force her to keep working. Depending on specific clauses, Angelina might have to give a 1 or 2 weeks notice that she is quitting, but ultimately she can quit whenever she wants. The same does not apply to the employer, which cannot fire Angelina immediately or if she does, Pupco will have to pay her normal wages as if she had worked during a minimum amount of time. Laws generally protect the least powerful party and in a labor relationship, the employee is the least powerful party.
Randy Inc. produces and sells tablets. The company incurred the following costs for the May:
Advertising cost for monthly television ads $ 6,600
Attachable keyboard 20,600
Insurance for delivery truck 660
Factory supervisor's salary 3,750
Marketing manager's salary 3,450
Assembly worker wages 28,000
Miscellaneous soldering material used to seal case 1,250
Hourly wages for factory security guard 2,400
CEO's salary 7,800
Speakers 5,400
Required:
Determine each of the following:
1. Direct Material
2. Direct Labor
3. Manufacturing Overhead
4. Total Manufacturing Cost
5. Total Period Cost
6. Total Variable Cost
7. Total Fixed Cost
Answer:
Please calculations below
Explanation:
1. Direct material is a material cost that can be traced to production unit ; which consist of the below.
Speakers + Attachable keyboard
5,400 + 20,600
= $26,000
2. Direct labor is a cost identified with wages paid to labourers who manufactures products. It is made up of the below.
Assembly worker wages $28,000
3. Manufacturing overhead refers to costs that are not direct in nature but are incurred for the production of goods and services.
Hourly wages for factory security guard + Factory supervisory salary
= 2,400 + 3,750
= $6,150
4. Total manufacturing cost refers to all costs incurred during production f goods and services.
Hourly wages for factory security guard + Attachable keyboards + assembly worker wages + speakers + factory supervisor salary
= 2,400 + 20,600 + 28,000 + 5,400 + 6,150
= $62,550
5 Total period cost are costs not traced or identified with the whole production flow.
Advertising cost for monthly television add + insurance for delivery truck + factory supervisor salary + marketing manager's salary + CEO's salary
= 6,600 + 660 + 3,750 + 3,450 + 7,800
= $22,260
6.Total variable cost refers to costs that vary with the level of output.
It consist of the items below.
Attachable keyboards + assembly worker wages + miscellaneous soldering material used to seal case + hourly wages for factory security guard + speakers
= 20,600 + 28,000 + 1,250 + 2,400 + 5,400
= $57,650
7.Total fixed cost refers to costs that do vary with output level. It is made up of the items below.
Advertising cost + insurance for delivery cost + factory supervisor salary + marketing manager's salary + CEO salary
= 6,600 + 660 + 3,750 + 3,450 + 7,800
=$22,260
Mr. and Mrs. Perry own three personal residences, all of which are subject to an acquisition mortgage. The mortgage on the first residence is $290,000, the mortgage on the second residence is $400,000, and the mortgage on the third residence is $357,000. Which of the following statements is true?
A. Mr. and Mrs. Perry can report an itemized deduction for the interest paid on all three mortgages.
B. The Perrys’ itemized deduction is limited to the interest on $1 million of their acquisition debt.
C. The Perrys’ itemized deduction is limited to the interest on the $400,000 mortgage.
D. None of the statements is true.
Answer: D. None of the statements is true.
Explanation:
When multiple residences are owned, tax laws indicate that itemized deductions for interest paid on mortgages are limited to the mortgages of 2 residences alone being the primary residence and any other residence that will be chosen as the second residence in the tax year.
As such, all the options are wrong as they would be limited to itemized deductions on mortgage interest for;
= $290,000 + $400,000
= $690,000 being the first 2 residences