Which, if any, of the following taxes are proportional (rather than progressive)?a.State general sales taxb.Federal estate taxc.Federal gift taxd.Federal corporate income taxe.All of these choices are correct. Which of the following sources has the highest tax validity?a.Internal Revenue Code sectionb.Regulationsc.Revenue Procedured.Revenue Rulinge.None of these choices are correct. During 2016, Esther had the following transactions:Salary$70,000Interest income on Xerox bonds2,000Inheritance from uncle40,000Contribution to traditional IRA5,500Capital losses2,500
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