Concepts In Federal Taxation 2016, 23rd Edition By Murphy - Test Bank Instant Download - Complete Test Bank With Answers Sample Questions Are Posted Below 1. In order for a taxpayer to reduce taxable income with a deduction, the tax law must allow it, and it must meet all statutory requirements. a. …
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Concepts In Federal Taxation 2016, 23rd Edition By Murphy – Test Bank
Instant Download – Complete Test Bank With Answers
Sample Questions Are Posted Below
1. In order for a taxpayer to reduce taxable income with a deduction, the tax law must allow it, and it must meet all statutory requirements.
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2. In order to take a business deduction, the taxpayer engaged in a business must be able to establish a business purpose for each expenditure.
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3. An individual is indifferent whether an expense is deducted for or deducted from adjusted gross income.
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4. Evelyn can avoid the 2 percent limitation on her investment expenses by having her partnership pay them.
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5. An expense that is incurred for the production of rent will be deducted for adjusted gross income.
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6. For a taxpayer to be engaged in a trade or business, the activity must meet all of the following tests: it must produce a profit every year; must be continuous and regular activity; and must be the taxpayer’s livelihood not their hobby.
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7. A necessary expense is one that is appropriate and helpful to the taxpayer’s income activity.
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8. Pamela owns the building where her plumbing supply business is located. This year she put on vinyl siding to replace the weathered wood siding on her building. The cost of the new siding can be expensed in the current year.
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9. Bowen is planning to quit his job as a plumber and open a paint store. He has incurred expenses of $8,000 dealing with the opening of the store and will be able to deduct all of these expenses.
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10. Morgan, a banker, is an amateur photographer who takes pictures at weddings and parties. He earned $1,000 but incurred $1,200 in related expenses. Since he takes a standard deduction, he will have to include the $1,000 in income but will not get any benefit from the expenses.
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11. Andy lives in New York and rents his house for two weeks during the U.S. Open Tennis tournament for $3,500. He must include the rent in his income.
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12. John decides rather than work late in the office, he does all of his work in an office at home. His employer approves of this arrangement. Since John uses his home office on a regular and exclusive basis, he will be eligible to take a home office deduction even though it was not required as a condition of employment.
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13. A taxpayer can take a deduction for a portion of his phone bill if he is eligible for the home office deduction.
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14. Ona is a professional musician. She prepared her music teacher’s tax return in exchange for music lessons. Since she is a cash basis taxpayer, she cannot take a deduction for the music lessons.
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15. Devery, Inc. sells high tech machine parts that are fully warranted against defects. Based on prior years experience they can expect to incur $20,000 of warranty expense on current sales. They are on the accrual basis, and the warranty expense is based on a reasonable estimate, so Devery can deduct the $20,000.
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16. Teresa, Terri, and Tricia operate Sassy Solutions, an exclusive boutique. Based on advice from Teresa’s sister, a CPA, the three form a partnership. Teresa owns 50% and Terri and Tricia each own 25%. For the year, Sassy Solutions reports the following:
For tax purposes, what amount will Sassy Solutions report to Teresa as her ordinary income from the partnership?
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17. Tom, Dick, and Harry operate Quality Stores. Based on advice from Tom’s sister, a CPA, the three form a partnership. Tom owns 50%; Dick and Harry each own 25%. For the year, Quality Stores reports the following:
By how much will Tom’s adjusted gross income increase because of the above?
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18. To be deductible, the dominant motive for incurring an expense must be
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19. Which of the following is an example of a business purpose as dominant motive?
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20. The Business Purpose Concept means
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21. The legislative grace concept dictates that deductible business expenses be grouped into certain categories that include
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22. Business expenses include
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23. A business expense includes
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24. Sheila extensively buys and sells securities. The IRS has determined upon examination that she is not in a trade or business concerning the securities’ transactions and therefore, Shelia must be
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25. Sarah extensively buys and sells securities . The IRS has determined upon examination that she is in a trade or business concerning the securities’ transactions and therefore, Sarah is
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26. Which of the following is/are trade or business expenses?
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27. Which of the following is/are trade or business expenses?
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28. Which of the following people is currently engaged in a trade or business?
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29. Which of the following people are currently engaged in a trade or business?
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30. Which of the following individuals is involved in a trade or business?
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31. Marian, a schoolteacher in Duluth, Minnesota, owns a rental house in Scottsdale, Arizona. She travels to Arizona during spring break to inspect her property and discuss property improvements with the tenant and property manager. Marian’s brother, Brian, lives in Scottsdale. She stays at his house during her week in Arizona and borrows his car to travel across town for her day of meetings. Her trip accomplishes several objectives: a visit with her brother, a trip away from Wisconsin’s winter weather, and a review of her investment property. The expenses of traveling to Scottsdale
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32. Bonnie’s sister, Diane, wants to open a restaurant. Because Diane is short of funds, Bonnie purchases the building and leases it to Diane. No agreement is signed, and Bonnie tells Diane not to worry about paying rent until the cash flow can support it. Also, Bonnie promises not to sell the property to anyone other than Diane.
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33. Shaheen owns 2 rental properties. She hires her 21 year old son, who is a junior at State College, to obtain tenants, negotiate leases, make arrangements for repairs, and pay expenses related to the properties.
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34. Pedro owns 5 rental properties. He contracts with East Lake Properties, Inc., to manage the real estate. East Lake obtains tenants, negotiates leases, makes necessary repairs, pays expenses related to the properties, and remits monthly net receipts to Pedro.
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35. In the current year, Paul acquires a car for $16,000. He uses the car in his advertising business and for personal purposes. His records indicate the car is used 60% for business and that the total operating expenses, including depreciation, are $4,700. Paul expects to use the car for 5 years in his business. What amount can Paul deduct as the operating costs of the car?
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36. During 2015, Myca sells her car for $5,000. She acquired the car in 2011 for $11,000 and has used it 60% for business and 40% for personal use. She deducted $5,280 in depreciation. What is the taxable gain or loss from the sale of the car attributable to her business use?
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37. Charlotte traveled to Annapolis to attend a three-day business conference. After her meetings concluded, she stays 2 additional days sightseeing. Charlotte’s airfare is $400 and pays $110 per night for lodging, $60 a day for meals, and $20 a day for incidentals. How much of Charlotte’s costs can be deducted as a business expense?
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38. Three requirements must be met in order to deduct a trade or business expense. Also, deductible trade or business expenses may not be which of the following:
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39. An ordinary expense
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40. An ordinary expense
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41. All of the following are a required test for the deduction of a business expense except?
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42. Portia, a CPA, operates a financial and tax planning service. During the months of February, March, and April of every year, she hires graduate tax students from The University of Chicago as interns. This year she hires 4 interns. One is her brother, Sidney. She pays all interns except Sidney $20 per hour for help with tax return preparation and tax research. Sidney receives $25 an hour. She cannot deduct the full amount of Sidney’s hourly wages because the expense is not
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43. Which of the following payments are currently deductible?
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44. Which of the following payments are currently deductible?
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45. Which of the following is a currently deductible trade or business expense.
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46. Which of the following is/are currently deductible trade or business expenses?
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47. Which of the following is/are currently deductible trade or business expenses?
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48. Which of the following requirements does not have to be met for a business or investment expense to be deductible:
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49. Which of the following is not deductible?
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50. Kelly buys a new Lexus for $48,750 in the current year to use in her commercial real estate business. Kelly cannot deduct the cost of the automobile in the current year, because
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51. Angel owns a gourmet Mexican restaurant. His head chef, Carmen, is arrested for a parole violation. Because Angel needs Carmen back to work as soon as possible, Angel pays her bail of $250, attorney’s fees of $300, and a court fine of $200.
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52. Which of the following expenditures are not deductible because they are personal in nature?
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53. Which of the following expenditures are not deductible because they are personal in nature?
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54. Diana bought 1,500 shares of Dalton Protection, Inc., common stock for $10 per share. She paid her broker a $300 commission to close the purchase. The following year, Diana sold 1,000 of the shares for $17 per share and paid a commission of $175 on the sale. What is Diana’s capital gain on the sale of the stock?
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55. Wanda owns and operates a restaurant on the north side of Cleveland. She is considering opening a second restaurant on the south side of town and incurs $13,600 of investigation expenses. In July of the current year, Wanda decides not to open a second restaurant. How much of the investigation expenses can Wanda deduct in the current year?
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56. Kim owns and operates a restaurant on the north side of Indianapolis. She is considering opening a day care center on the south side of town and incurs $10,400 of investigation expenses. In July of the current year, Kim opens the day care center. How much of the investigation expenses can Kim deduct in the current year?
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57. Davis owns and operates a convenience store on the north side of the city. He has always wanted to operate a sports bar. When he hears of a new shopping center development in the south part of the city, he contacts the developer and begins negotiations to open his dream enterprise.
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58. Henry owns a hardware store in Indianapolis. He has decided to expand his business interests and is considering opening a golf store in a neighboring town. He has incurred $12,000 of expenses investigating whether to open the new golf store. In July of the current year he finds the perfect location and opens the golf store on October 1. What amount of the investigation expenses can he deduct in the current year?
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59. Paul owns a lumber yard in Portland. He has decided to expand his business interests and is considering opening a golf course in Seattle. He has incurred $51,000 of expenses investigating whether to open the new golf course. In January of the current year he finds the perfect location and opens the golf course on July 1. What amount of the investigation expenses can he deduct in the current year?
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60. Jackie recently retired from the U.S. Coast Guard after 30 years of service. She would like to open a boat shop to operate in her retirement years. Jackie incurs $3,800 of expenses while investigating sites for her shop and while checking out boat franchises. What are the tax effects of the expenses Jackie incurs?
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61. Which of the following can be deducted as a trade or business expense?
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62. Oscar drives a taxi on weekends. In maximizing the amount of fares he earns, he occasionally gets tickets for speeding. Oscar figures that as long as he keeps his traffic violations under $100 over a weekend, he can more than offset those costs with additional fares. What is/are the tax effect(s) of Oscar’s speeding ticket costs?
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63. Which of the following expenditures or losses incurred in the context of a trade or business activity is deductible at the time it is incurred?
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64. Bruce operates an illegal drug business. Which of the following is deductible?
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65. Michael operates an illegal cock fighting business. Which of the following expenses is currently deductible?
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66. Chelsea operates an illegal gambling enterprise out of her restaurant. Considering only the following expenses, what amount can she deduct?
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67. Which of the following expenses is/are deductible?
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68. Which of the following expenses is/are deductible?
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69. Which of the following payments are deductible?
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70. Which of the following production of income expenses would be deductible:
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71. Clay incurs $5,000 of investment expenses related to purchasing Renco Company stock and New Orleans municipal bonds. He receives $6,000 of dividends on the stock and $14,000 of interest on the bonds. The amount of investment expense Clay can deduct is:
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72. Walter pays a financial adviser $2,100 to help him manage his investment portfolio during the current year. Walter receives $5,000 in interest from investments in General Motors and Xerox bonds, and $2,500 in interest from investments in City of San Francisco bonds. How much may Walter deduct for the current year?
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73. Jennifer pays the following expenses for her dependent 30-year old daughter while the daughter was ill during the current year:
How much of the above expenditures may Jennifer use in computing her itemized deductions?
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74. During the current year, Paul came down with a serious illness. Paul’s uncle paid many of Paul’s expenses during the period of rehabilitation. For tax purposes, how are Paul’s mortgage interest and real estate property taxes handled?
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75. Sadie is a full time nurse and a part time painter. Her painting qualifies as a hobby. Her gross income from painting is $7,000. Her expenses include $800 of interest on inventory loans, $5,200 of expenses in conducting business activities, and $2,000 of depreciation of equipment. Which of the following statements about Sadie’s hobby activity is/are correct?
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76. Several factors are used to determine whether an activity is classified as a hobby or as a business. Which of the following are factors that aid in this determination?
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77. Which of the following factors absolutely must be present for an activity to be considered a trade or business for tax purposes?
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78. Which of the following factors are used to aid in determining whether an activity that earns income is profit motivated and should be treated as a business or is subject to the hobby loss rules?
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79. Which of the following factors are used to aid in determining whether an activity that earns income is profit motivated and should be treated as a business or is subject to the hobby loss rules?
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80. Virginia, a practicing CPA, receives $11,000 from the sale of rare orchids that she grows. Her expenses of operating this hobby activity follow:
How much of the expenses that Virginia incurs can be deducted as hobby expenses?
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81. Mario paints landscape portraits, and he treats the activity as a hobby. During the current year, Mario incurred the following expenses while earning $2,500 from sales of paintings:
Mario uses the standard deduction and never itemizes his deductions. How should Mario report all of the items related to his hobby on his tax return?
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82. Michelle is a bank president and a weekend artist. She regularly sells her paintings at flea markets and spends an average of 9 hours a week painting or selling. Although she made about $6,000 last year from sales of artwork, she tells her friends she would do it for free. For the current tax year, she incurs expenses of $800 primarily for admission fees to flee markets and art fairs. The $800 is
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83. Mike and Pam own a cabin near Teluride, Colorado. In the current year the cabin was rented for 8 days to friends. Mike and Pam used the cabin a total of 82 days during the same year. After allocating the expenses between personal and rental use, the following rental loss was determined:
How should Mike and Pam report the rental income and expenses for last year?
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84. Tom and RoseMary own a cabin near Stowe, Vermont. During the current year the cabin is rented for 31 days for $1,800. Tom and RoseMary used the cabin a total of 12 days during the year. After making the appropriate allocation of expenses between personal and rental use, the following rental loss was determined:
How should Tom and RoseMary report the rental income and expenses for the current year?
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85. Claire and Harry own a house on Hilton Head Island. During the year, Claire and Harry rent the house for 30 days to friends from Texas for $2,000. Claire and Harry use the house a total of 60 days during the year. After making the appropriate allocation of expenses between personal and rental use, the following rental loss was determined:
How should Claire and Harry report the rental income and expenses for the forthcoming year?
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86. Marlene is a single taxpayer with an adjusted gross income of $140,000. In addition to her personal residence, Marlene owns a ski cabin in Vail. She uses the cabin for 40 days during the current year and rents it out to unrelated parties for 80 days, receiving rent of $10,000. Marlene’s costs before any allocation related to the cabin are as follows:
Based on the above information, what is her allowable depreciation deduction?
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87. Jack and Cheryl own a cabin near Copper Mountain, Colorado. During the year, Jack and Cheryl rent the cabin for 30 days to friends for $1,800. Jack and Cheryl use the cabin a total of 60 days during the year. After making the appropriate allocation of planned expenses between personal and rental use, the following rental loss was determined:
How should Jack and Cheryl report the rental income and expenses for the forthcoming year?
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88. James rents his vacation home for 30 days during the year and lives in it personally for 10 days. He receives rents of $4,000 and incurs the following expenses before allocation:
What is James’ income or loss from the rental property?
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89. Girardo owns a condominium in Key West. During the year, Girardo uses the condo a total of 22 days. The condo is also rented to vacationers for a total of 78 days and generates rental income of $24,000. Girardo incurs the following expenses before allocation:
The amount of depreciation that Girardo may deduct with respect to the rental property is
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90. Karen owns a vacation home in Door County, Wisconsin. During the year, she rents it out for two weeks and uses it personally for three weeks. Her expenses directly related to renting out the property were utilities $300, and maid service $150. The portion of taxes allocable to the rental activity is $600 and revenue from the rental is $1,000. Karen will
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91. Landis is a single taxpayer with an adjusted gross income of $280,000. In addition to his personal residence, Landis owns a vacation home in Beaver Creek, Colorado. He uses the vacation home for 21 days during the current year and rents it out to unrelated parties for 63 days. After making the appropriate allocation between rental and personal use, the following rental loss is determined:
What is the correct reporting of the rental income and expenses?
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92. Elise is a self-employed business consultant who operates her business out of an office in her home. The home office passes the qualifying tests for deducting office in the home expenses. For the current tax year, Elise earns $90,000 from her business activities. She incurs $82,000 in supplies, travel expenses, wage expense, etc. Elise’s mortgage interest and real estate taxes allocable to the home office space were determined to be $9,000. Also, other expenses including insurance, repairs and maintenance, utilities, and depreciation allocable to the home office space total $11,000. How much of the other expenses (insurance, repairs, etc.) can Elise deduct?
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93. Frank is a self-employed architect who maintains a qualifying office in his home. Frank has $80,000 gross income from his practice and incurs $72,000 in salaries, supplies, computer services, etc. Frank’s mortgage interest and real estate taxes allocable to the office total $3,000. Other expenses total $9,000 and consist of depreciation, utilities, insurance, and maintenance. Frank’s total office in home deductions are
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94. Jim operates a business out of his home. One room in his home is used for business and qualifies as a home office. Which of the following allocable expenditures can Jim use in computing his home office expense deduction?
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95. In which of the following independent situations is the taxpayer entitled to deduct expenses related to the home office?
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96. Safina is a high school teacher. She has set aside one room in her home exclusively as a home office where she grades papers, prepares for class, etc. No revenues are generated from her activities. Depreciation and maintenance are $800 on the home office space. How much of the expenses are deductible by Safina?
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97. Generally income tax accounting methods are designed to result in
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98. Generally income tax accounting methods are designed to result in
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99. Generally income tax accounting methods are designed to result in
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100. William, a single taxpayer, has $3,500 state income tax withheld from his paychecks in 2014. When he filed his 2014 state income tax return on April 15, 2015, he calculated and received a $600 refund. The $600 refund was received on May 27, 2015. What are the federal tax effects of the state income tax events of 2014 and 2015?
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101. Jenny, an individual cash basis taxpayer, has $6,000 of state income taxes withheld from her salary during 2015. When she filed her 2014 state income tax return during April 2015, she paid an additional $500 in state income taxes. When she filed her 2015 state income tax return in April 2016, she received a $200 refund. What is her state income tax deduction for 2015 for federal income tax purposes?
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102. Harold, a cash basis taxpayer, borrows $65,000 for his business on a 2-year note from First City Bank on December 1, 2015. To close on the loan agreement, Harold is required to prepay interest of $4,800 on December 1. How much interest can Harold deduct in 2015?
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103. Amy borrowed $25,000 for her business from a local bank two years ago. To increase her deductions for 2015, she pays December interest of $400 and prepays January and February interest totaling $800 on December 30, 2015. The maturity date of the note is November 30, 2016. How much of the interest that she paid in December is deductible in 2015?
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104. Janine, a cash-basis taxpayer, borrowed $15,000 for her business from a local bank three years ago. To increase her deductions for 2015, she pays December interest of $150 and prepays January and February interest totaling $300. The maturity date of the note is November 30, 2016. How much of the interest is deductible in 2015?
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105. Electronic City sells various electronic products. With each of its products, Electronic City offers customers the option of purchasing a repair contract. Under the contracts, Electronic City will make repairs anytime during the term of the contract. Electronic City estimates that repair costs related to this year’s sales will be $39,000. During the current year, Electronic City incurs repair costs of $37,000 related to prior year’s contracts and $4,000 on contracts sold this year.
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106. Christy purchases $1,000-worth of supplies from a local vendor. The supplies are delivered on March 29, 2015. The supplies are fully used up by year end. Because of unusual circumstances, a bill for the supplies arrives from the vendor on January 10, 2016, and is promptly paid. When can Christy deduct the expenses?
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107. Sergio purchases $3,000-worth of supplies from a local vendor. The supplies are delivered on April 1, 2015. The supplies are fully used up on December 31, 2015. Because of unusual circumstances, a bill for the supplies arrives from the vendor on February 1, 2016, and is promptly paid. When can Sergio deduct the expenses?
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108. In which of the following circumstances would a cash basis taxpayer be required to account for an item of income or deduction under the accrual method of accounting?
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109. The all-events test requires that
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110. If someone provides a taxpayer with either property or services, economic performance occurs when
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111. Twin City Manufacturing Corporation is an accrual basis taxpayer. Twin City Manufacturing provides medical insurance for its employees through a self-insured reimbursement plan. Twin City Manufacturing pays $100 per month per employee into the plan fund. The fund is then used to reimburse employees’ medical expenses. During the current year, Twin City Manufacturing Corp. pays $12,000 into the fund and pays medical reimbursement claims of $10,600.
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112. An accrual basis taxpayer may deduct expenses in the year in which certain tests are met. These tests include
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113. If a taxpayer owes interest, economic performance occurs
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114. Angela is an accrual basis taxpayer. On September 1 of the current year, she prepays the annual premium of $4,800 for a one-year fire insurance policy on the contents of her business warehouse. The expense is not material for either financial or tax purposes. The prepayment is necessary to activate the insurance coverage and maintain annual renewals. How much may Angela deduct in the current year?
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115. An exception to the economic performance test allows the deduction of year-end accruals if
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116. An exception to the economic performance test allows the deduction of year-end accruals if
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117. Due to a shortage of cash, East Coast Entertainment Company, an accrual basis taxpayer, could not pay its November 2015 utility bill on time. In February of 2016, East Coast Entertainment pays the utility bill.
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118. Indicate which of the following statements is/are correct:
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119. Indicate which of the following statements is/are correct:
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| 120. Richard, a cash basis taxpayer, is an 80% owner and president of WLFI TV. WLFI TV is an S corporation and uses the accrual method of accounting. On December 1, 2015, WLFI TV accrues a bonus of $50,000 to Richard. The bonus is payable on January 31, 2016. In what year does Richard report the income and WLFI TV take the deduction?
Richard WLFI TV
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121. Harold is a 90% owner of National Homes Construction, an accrual basis S corporation. On December 30, 2014, National Homes accrues a $100,000 bonus to Harold, payable on February 15, 2015.
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122. For its financial accounting records Addison Company uses the allowance method to account for bad debts and estimates the balance in the “Allowance for Bad Debts” account using the aging method. For tax purposes, the allowance method cannot be used. The rationale for not allowing this method is
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123. Income tax accounting methods and financial accounting methods differ in many ways. Which of the following tax law provisions are likely to create permanent differences between taxable income and financial (or book) income of a single entity?
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124. Income tax accounting methods and financial accounting methods differ in many ways. Which of the following tax law provisions are likely to create permanent differences between taxable income and financial (or book) income of an entity?
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125. Dustin, Dan, and Dennis operate Heritage Hills dry cleaners as an S corporation. Dustin owns 50% of the business, Dan 30%, and Dennis 20%. For the current year, Heritage Hills reports the following:
How must Heritage Hills report its results to each of the owners?
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126. List the criteria necessary for an expenditure to be deductible as a trade or business expense or an expense for the production of income.
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127. Discuss whether the following persons are currently engaged in a trade or business:
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128. Discuss whether the following persons are currently engaged in a trade or business:
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129. Larry is a history teacher. He subscribes to several periodicals about teaching history and judging history fairs. This year Larry spends $285 on subscriptions to various periodicals. Discuss the deductibility of the expenditures for tax purposes.
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130. Discuss whether the following expenditures meet the ordinary, necessary, and reasonable requirements for deductibility.
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131. Using the tests for deductibility discussed in Chapter 5, explain why the following expenses are not deductible.
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132. Using the general tests for deductibility, explain why the following expenses are not fully deductible.
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133. Using the tests for deductibility discussed in Chapter 5, explain why the following expenses may not be fully deductible in the current year
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134. The Wilson Corporation incurs the following expenses. Explain whether the following expenses should be capitalized or deducted in the current period.
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135. Using the tests for deductibility discussed in Chapter 5, explain why the following expenses may not be fully deductible in the current year.
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136. Explain the rationale for disallowing the deduction for interest expense attributable to money borrowed to acquire tax-exempt municipal bonds.
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137. Cornelius owns a condominium in Orlando. During the year, Cornelius uses the condo a total of 25 days. The condo is also rented to vacationers for a total of 75 days and generates rental income of $9,000. Cornelius incurs the following expenses:
Determine Cornelius’s deduction related to the condominium. Indicate the amount of each expense that can be deducted and how it would be deducted.
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138. Wilson owns a condominium in Gatlinburg, Tennessee. During the current year, she incurs the following expenses before allocation related to the property:
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Match each statement with the correct term below.
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139. Active Trader
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140. Active Investor
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141. All-events Test
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142. Economic Performance
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143. Necessary Expense
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144. Ordinary Expense
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145. Personal Expense
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146. Reasonable Expense
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Match the proper deduction method with the correct expenditures.
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147. Betterment
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148. Covenant not to compete for 4 years
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149. Fire and casualty insurance premium on business warehouse
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150. Hobby loss
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151. Illegal gambling operation expenses
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152. Investment expenditures related to earning interest from municipal bonds
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153. Federal lobbying expenditures
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154. Organization costs
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155. Political contributions
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156. Premiums the insured taxpayer pays for life insurance
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157. Repair-and-maintenance expenditures
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158. Start-up costs over $5,000.
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Match each statement with the correct term below.
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159. Amortizable or deductible expense
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160. Capital expenditure
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161. Hobby expense
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162. Home office deduction
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163. Lobbying expense
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164. Mixed-use asset
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165. Non-deductible expense
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166. Production-of-income expense
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167. Profit motivated business expenses
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168. Vacation home expense
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Original price was: $30.00.$20.00Current price is: $20.00.
Original price was: $30.00.$20.00Current price is: $20.00.
Original price was: $30.00.$20.00Current price is: $20.00.
Original price was: $30.00.$20.00Current price is: $20.00.
Original price was: $30.00.$20.00Current price is: $20.00.
Original price was: $30.00.$20.00Current price is: $20.00.
