Anna purchased a vehicle six years ago for $25,000. She recently sold it for $5,000. Over the years, she paid a total of $5,800 on auto insurance, $4,800 on gas and maintenance, and $2,500 in interest. What was her depreciation cost on this vehicle?

a. $ 5,000

b. $10,800

c. $15,000

d. $20,000

e. $25,000 Jackie is in the 28% marginal tax bracket and has no other itemized deductions except those related to her home. If her standard deduction is $4,750 and she incurs the following costs related to housing, how much tax savings will she receive as a result of her home purchase?

Mortgage interest $14,000

Principal repayment $ 800

Homeowner's insurance $ 1,000

Real estate taxes $ 4,000

Homeowner's association fees $ 1,200

a. $13,250

b. $ 5,040

c. $ 3,710

d. $ 2,800

e. none ;