SOLUTION MANUAL FOR w w
PrinciplesofTaxationforBusinessandInvestmentPlanning202023rdEditionby w w w w w w w
wSallyJones, Shelley Rhoades Catanach
w w w w
Chapter1TaxesandTaxingJurisdictions w w w w
Questionsand Problems forDiscussion w w
1. Taxpaymentsdifferfromgovernmentfinesandpenalties becausetheyaren‘tintendedto deter
w w w w w w w w w w w w w
worpunishunacceptable behavior.Taxpaymentsdiffer fromfeesorusercharges because
w w w w w w w w w w w w
wtheydon‘tentitlethepayertoaspecificgovernmentgoodorservice,suchasa postagestamp
w w w w w w w w w w w w w w w w
woradriver‘slicense.Taxpaymentsalsodifferfromfeesorusercharges because they are
w w w w w w w w w w w w w w w
wcompulsory.
2. Thispaymenthascharacteristicsofatax,apenalty,andauserfee.Thecompulsorypayment is not
w w w w w w w w w w w w w w w w w
wspecificallypunitivebutdoesapplyselectivelytothosecompaniesmostlikely responsiblefor the w w w w w w w w w w w w w
wpollutedconditionofGreenRiver.However,thesesamecompaniesmay betheentitiesthat benefit
w w w w w w w w w w w w w w w
wmost from the environmental clean-up.
w w w w
3. Thispaymentmorecloselyresemblesafeeforagovernmentservicethanatransaction-basedtax
w w w w w w w w w w w w w w
wbecausethetransactionoccursbetweenaprivateparty andthejurisdictionitself,rather than
w w w w w w w w w w w w w w
wbetweenprivatepartiesengaginginamarkettransaction.Thepaymentalsoentitles thepayertoa
w w w w w w w w w w w w w w w
wspecific benefit (the right to marry under law). w w w w w w w
4. Totheextentthatthedeclineinexterior maintenancereduces thevalueofMr.Powell‘s apartment
w w w w w w w w w w w w w w w
wcomplex,hebearstheincidenceoftheincreasedpropertytax.Totheextentthatthe declinereduces
w w w w w w w w w w w w w w w w
wthevalueofadjoiningpropertiesormakestheneighborhoodlessattractive,the owners ofthe
w w w w w w w w w w w w w w
wadjoiningproperties andtheneighborhoodresidentssharetheincidenceofthe taxincrease.
w w w w w w w w w w w w
5. Peoplewhodon‘tdirectlyusepublicschools(suchasMr.andMrs.Ahernorpeoplewhodon‘thave
w w w w w w w w w w w w w w w w w
wchildren)indirectly benefitfromapublic educationsystemforthegeneralpopulation. Arguably, public
w w w w w w w w w w w w w
weducationcontributes toaskilledworkforceandimproves thecultural andsocial environmentinwhich
w w w w w w w w w w w w w w
Mr.andMrs.Ahernlive.Basedonthisargument,Mr.andMrs.Ahernshould not be exempt from the local
w w w w w w w w w w w w w w w w w w w w
wproperty tax. w
6. Theconsumerswhopaythesamepriceforasmallerbarofsoapoflesserqualitybearthe
w w w w w w w w w w w w w w w w w
wincidence of the new gross receipts tax. w w w w w w
7. Realpropertycan‘t behiddenormoved,anditsownership(legaltitle)isamatter ofpublic
w w w w w w w w w w w w w w w w
wrecord.Incontrast,personalpropertyismobileandmaybeeasilyconcealed.Moreover,
w w w w w w w w w w w w
wjurisdictionsmaynothaveaneffectivemeanstodiscoverortraceownershipofpersonal w w w w w w w w w w w w w
wproperty.
8. Arguably,privategolfcoursesbeautifythelocalityandareenvironmentallymoredesirable than
w w w w w w w w w w w w
wothercommercial activities. They alsomay requiremoreacreagethanother businesses and,
w w w w w w w w w w w w
wtherefore, would be at a competitive disadvantage without a preferential real propertytax
w w w w w w w w w w w w
wrate.
9. Manyjurisdictions thatlevypropertytaxesprovideanexemptionforpublicinstitutions,suchas state
w w w w w w w w w w w w w w
universities orprivate colleges.IfUniversity K isentitledtosuchanexemption, every commercial
w w w w w w w d w w w w w w w
buildingorresidence acquiredby theUniversity reduces thelocaljurisdiction‘s property tax base.
w w w w w w w w w w w w w w
Copyright©2020 McGraw-Hill Education. Allrights reserved. w w w w w w
Noreproductionordistribution withoutthepriorwrittenconsent ofMcGraw-Hill
w w w w w w w w w w
Education. w
,10. Excise taxes are imposed on a much narrower range of consumer goods and services than sales
w w w w w w w w w w w w w w w
taxes. Consequently, people can more readily avoid purchasing the specific good or service
w w w w w w w w w w w w w
subject to excise tax.
w w w w
11. Thetaxincreasemay havereducedtheaggregatedemandforconsumergoods and,
w w w w w w w w w w w w
consequently, municipal residents are buying fewer goods. A second possibility is that
w w w w w w w w d w w w
municipalresidents aretravelingtootherjurisdictionswithlowertaxratesormakingmore
w w w w w w w w w w w w w w
purchases through mail order catalogs or on-line.
w w w w w w w
12. Fromapoliticalperspective,liquorandcigarettessales makeanexcellenttaxbase because
w w w w w w w w w w w w w
consumptionofthetwoproducts is purely discretionary,andany declineinconsumption becauseof
w w w w w w w w w w w w w w w
thetaxissociallydesirable.Fromaneconomic perspective,thesesales areagood tax base
w w w w w w w w w w w w w w w w
becausethedemandforliquor andcigarettesisrelatively priceinelastic.Inother words,people
w w w w w w w w w w w w w w w
whodrinkandsmokeonaregularbasisbuytheseproductsregardlessofaheavy excisetax.
w w w w w w w w w w w w w w w w w
13. Thefederalincomehasthebroaderbase.Thefederalpayrolltaxisimposedonwages, salaries, and
w w w w w w w w w w w w w w w w
otherformsofcompensationearnedbyemployees.Thefederalincometaxisimposedon alltypes of
w w w w w w w w w w w w w w w w w
compensationaswellas netbusiness profit,investmentincome,andanyother income item from
w w w w w w w w w w w w w w w
whatever source derived.
w w w
14. Aproperty tax is a periodic (usually annual) tax levied on the ownership of property and basedon
w w w w w w w w w w w w w w w w w
thevalueofthepropertyonaparticularassessmentdate.Atransfertaxisa transaction-basedtax
w w w w w w w w w w w w w w w w w w
leviedonthetransferofpropertyfromonepartytoanother.Atransfertax is based on the value of the
w w w w w w w w w w w w w w w w w w w w w
property at date of transfer.
w w w w w
15. Ifthefederalgovernmentcould―piggyback‖ anationalsalestaxonexistingstatesalestax
w w w w w w w w w w w w w w w
collectionsystems, thefederalgovernmentcouldavoidcreatinganewfederal agency for
w w w w w w w w w w w w w
collectingthetax.Incontrast,thefederalgovernmentwouldhavetocreateanewcollection system
w w w w w w w w w w w w w w w w
foranationalVAT.However,anationalVATwouldbelesslikelytocausejurisdictional conflict
w w w w w w w w w w w w w w w w
betweenthefederalgovernmentandthestatesbecausestatesdon‘tdependonVATs as a source
w w w w w w w w w w w w w w w w
of revenue.
w w
16. TheInternalRevenueCodeis federalstatutory law,enactedbyCongress andsignedby the President.
w w w w w w w w w w w w w w w
Technically,Treasuryregulationsonlyinterpretandexplainthestatuteandaren‘tlaws intheirown
w w w w w w w w w w w w w w w
right.Thus,regulationsarelessauthoritativethantheCodeitself.However,because Congress
w w w w w w w w w w w w w
authorizedtheTreasury towriteregulations, they arethegovernment‘s official interpretation of
w w w w w w w w w w w w w
statutory law. Practically, theregulations carry considerableauthoritative weight.
w w w w w w w w w
Application Problems w
1. a. Thestatementoffactsidentifiesthreetaxpayers:Mr.JoshKenney,JKServices,andJK
w w w w w w w w w w w w w
Realty.
w
b. Thegovernment ofthelocality inwhichMr.Kenney resides,thestategovernment of
w w w w w w w w w w w w w
Vermont,andtheU.S. governmenthavejurisdictiontotax Mr.Kenney.Thelocal
w w w w w w w w w w w w w
governments ofthefourcounties inwhichJKServices conducts business,thestate
w w w w w w w w w w w w w
governmentofVermont,andtheU.S.governmenthavejurisdictiontotaxJKServices. The
w w w w w w w w w w w w w w
cityofBoston,thestategovernmentofMassachusetts,andtheU.S.government have
w w w w w w w w w w w w w
jurisdiction to tax JK Realty.
w w w w w
2. a. TheUnitedStateshasjurisdictiontotaxMrs.Maybecausesheisapermanentresident.
w w w w w w w w w w w w w w
b. TheUnitedStateshasjurisdictiontotaxMrs.MayonlyontheU.S.sourcerental
w w w w w w w w w w w w w w
income generated by the Manhattan real estate.
w w w w w w w
Copyright©2020 McGraw-Hill Education. Allrights reserved. w w w w w w
Noreproductionordistribution withoutthepriorwrittenconsent ofMcGraw-Hill
w w w w w w w w w w
Education. w
, c. TheUnited Statesdoesnot havejurisdictiontotax Mrs.May.
w w w w w w w w w w
d. TheUnited Stateshasjurisdiction totax Mrs. Maybecause sheisaU.S.citizen.
w w w w w w w w w w w w w w
3. a. TheUnited Stateshas jurisdiction totax Mr.Tompkin because he isaU.S citizen.
w w w w w w w w w w w w w w
b. TheUnitedStateshasjurisdictiontotaxMr.TompkinonlyontheU.S.sourcerental
w w w w w w w w w w w w w w
income generated by the Buffalo real estate.
w w w w w w w
c. TheUnitedStateshasjurisdiction totax Mr.Tompkinbecause heisapermanent resident.
w w w w w w w w w w w w w w
d. TheUnitedStateshasjurisdictiontotaxMr.TompkinonhisshareoftheU.S.
w w w w w w w w w w w w w w
source business income generated by Sophic Partnership.
w w w w w w w
4. State A: w
Volumeof salesbeforerateincrease w w w w w $800,000,000
Originaltaxrate w w .05
Revenuebeforerateincrease w w w $40,000,000
Volumeof salesafter rateincrease w w w w w $710,000,000
Newtax rate w w .06
Revenue afterrateincrease w w w $42,600,000
Additionalrevenue($42,600,000−$40,000,000) w w w $2,600,000
StateZ: w
Volumeofsalesaddedtotax base w w w w w w $50,000,000
Tax rate w .05
Additional revenue w $2,500,000
5. a. Thepropertytaxis$8,300($415,0002%).
w w w w w w w
b. Thepropertytax is$19,000([$500,000 2%]+[$225,000 4%]).
w w w w w w w w w w w
6. a. The property tax is$39,000 ($1.3million 3%).
w w w w w w w w
b. The propertytax is$85,000 ([$2million 3%]+[$2.5million 1%]).
w w w w w w w w w w w w w
7. Increase in County G‘s aggregate assessed property tax value
w w w w w w w w $23,000,000
wAssessedvalueofLexon‘snewfacility w w w w w (20,000,000)
Net increase in County G‘s tax base
w w w w w w $3,000,000
wTaxrate w
.04
Net effect onCountyG‘scurrentyear revenue
w w w w w w w $120,000
8. a. Value of property purchased in State K w w w w w w $600,000
Use tax rate in State H
w w w w w w
.06
Precredit usetax
w w w $36,000
Salestax paidtoStateK w w w w w (18,000)
Usetax owedtoStateH w w w w w $18,000
b. Value of property purchased in State L
w w w w w w $750,000
Use tax rate in State H
w w w w w w
.06
Copyright©2020 McGraw-Hill Education. Allrights reserved. w w w w w w
Noreproductionordistribution withoutthepriorwrittenconsent ofMcGraw-Hill
w w w w w w w w w w
Education. w
, Precredit usetax
w w w $45,000
Salestax paidtoStateL
w w w w w (48,750)
Usetax owedtoStateH
w w w w w -0-
Copyright©2020 McGraw-Hill Education. Allrights reserved.
w w w w w w
Noreproductionordistribution withoutthepriorwrittenconsent ofMcGraw-Hill
w w w w w w w w w w
Education. w
PrinciplesofTaxationforBusinessandInvestmentPlanning202023rdEditionby w w w w w w w
wSallyJones, Shelley Rhoades Catanach
w w w w
Chapter1TaxesandTaxingJurisdictions w w w w
Questionsand Problems forDiscussion w w
1. Taxpaymentsdifferfromgovernmentfinesandpenalties becausetheyaren‘tintendedto deter
w w w w w w w w w w w w w
worpunishunacceptable behavior.Taxpaymentsdiffer fromfeesorusercharges because
w w w w w w w w w w w w
wtheydon‘tentitlethepayertoaspecificgovernmentgoodorservice,suchasa postagestamp
w w w w w w w w w w w w w w w w
woradriver‘slicense.Taxpaymentsalsodifferfromfeesorusercharges because they are
w w w w w w w w w w w w w w w
wcompulsory.
2. Thispaymenthascharacteristicsofatax,apenalty,andauserfee.Thecompulsorypayment is not
w w w w w w w w w w w w w w w w w
wspecificallypunitivebutdoesapplyselectivelytothosecompaniesmostlikely responsiblefor the w w w w w w w w w w w w w
wpollutedconditionofGreenRiver.However,thesesamecompaniesmay betheentitiesthat benefit
w w w w w w w w w w w w w w w
wmost from the environmental clean-up.
w w w w
3. Thispaymentmorecloselyresemblesafeeforagovernmentservicethanatransaction-basedtax
w w w w w w w w w w w w w w
wbecausethetransactionoccursbetweenaprivateparty andthejurisdictionitself,rather than
w w w w w w w w w w w w w w
wbetweenprivatepartiesengaginginamarkettransaction.Thepaymentalsoentitles thepayertoa
w w w w w w w w w w w w w w w
wspecific benefit (the right to marry under law). w w w w w w w
4. Totheextentthatthedeclineinexterior maintenancereduces thevalueofMr.Powell‘s apartment
w w w w w w w w w w w w w w w
wcomplex,hebearstheincidenceoftheincreasedpropertytax.Totheextentthatthe declinereduces
w w w w w w w w w w w w w w w w
wthevalueofadjoiningpropertiesormakestheneighborhoodlessattractive,the owners ofthe
w w w w w w w w w w w w w w
wadjoiningproperties andtheneighborhoodresidentssharetheincidenceofthe taxincrease.
w w w w w w w w w w w w
5. Peoplewhodon‘tdirectlyusepublicschools(suchasMr.andMrs.Ahernorpeoplewhodon‘thave
w w w w w w w w w w w w w w w w w
wchildren)indirectly benefitfromapublic educationsystemforthegeneralpopulation. Arguably, public
w w w w w w w w w w w w w
weducationcontributes toaskilledworkforceandimproves thecultural andsocial environmentinwhich
w w w w w w w w w w w w w w
Mr.andMrs.Ahernlive.Basedonthisargument,Mr.andMrs.Ahernshould not be exempt from the local
w w w w w w w w w w w w w w w w w w w w
wproperty tax. w
6. Theconsumerswhopaythesamepriceforasmallerbarofsoapoflesserqualitybearthe
w w w w w w w w w w w w w w w w w
wincidence of the new gross receipts tax. w w w w w w
7. Realpropertycan‘t behiddenormoved,anditsownership(legaltitle)isamatter ofpublic
w w w w w w w w w w w w w w w w
wrecord.Incontrast,personalpropertyismobileandmaybeeasilyconcealed.Moreover,
w w w w w w w w w w w w
wjurisdictionsmaynothaveaneffectivemeanstodiscoverortraceownershipofpersonal w w w w w w w w w w w w w
wproperty.
8. Arguably,privategolfcoursesbeautifythelocalityandareenvironmentallymoredesirable than
w w w w w w w w w w w w
wothercommercial activities. They alsomay requiremoreacreagethanother businesses and,
w w w w w w w w w w w w
wtherefore, would be at a competitive disadvantage without a preferential real propertytax
w w w w w w w w w w w w
wrate.
9. Manyjurisdictions thatlevypropertytaxesprovideanexemptionforpublicinstitutions,suchas state
w w w w w w w w w w w w w w
universities orprivate colleges.IfUniversity K isentitledtosuchanexemption, every commercial
w w w w w w w d w w w w w w w
buildingorresidence acquiredby theUniversity reduces thelocaljurisdiction‘s property tax base.
w w w w w w w w w w w w w w
Copyright©2020 McGraw-Hill Education. Allrights reserved. w w w w w w
Noreproductionordistribution withoutthepriorwrittenconsent ofMcGraw-Hill
w w w w w w w w w w
Education. w
,10. Excise taxes are imposed on a much narrower range of consumer goods and services than sales
w w w w w w w w w w w w w w w
taxes. Consequently, people can more readily avoid purchasing the specific good or service
w w w w w w w w w w w w w
subject to excise tax.
w w w w
11. Thetaxincreasemay havereducedtheaggregatedemandforconsumergoods and,
w w w w w w w w w w w w
consequently, municipal residents are buying fewer goods. A second possibility is that
w w w w w w w w d w w w
municipalresidents aretravelingtootherjurisdictionswithlowertaxratesormakingmore
w w w w w w w w w w w w w w
purchases through mail order catalogs or on-line.
w w w w w w w
12. Fromapoliticalperspective,liquorandcigarettessales makeanexcellenttaxbase because
w w w w w w w w w w w w w
consumptionofthetwoproducts is purely discretionary,andany declineinconsumption becauseof
w w w w w w w w w w w w w w w
thetaxissociallydesirable.Fromaneconomic perspective,thesesales areagood tax base
w w w w w w w w w w w w w w w w
becausethedemandforliquor andcigarettesisrelatively priceinelastic.Inother words,people
w w w w w w w w w w w w w w w
whodrinkandsmokeonaregularbasisbuytheseproductsregardlessofaheavy excisetax.
w w w w w w w w w w w w w w w w w
13. Thefederalincomehasthebroaderbase.Thefederalpayrolltaxisimposedonwages, salaries, and
w w w w w w w w w w w w w w w w
otherformsofcompensationearnedbyemployees.Thefederalincometaxisimposedon alltypes of
w w w w w w w w w w w w w w w w w
compensationaswellas netbusiness profit,investmentincome,andanyother income item from
w w w w w w w w w w w w w w w
whatever source derived.
w w w
14. Aproperty tax is a periodic (usually annual) tax levied on the ownership of property and basedon
w w w w w w w w w w w w w w w w w
thevalueofthepropertyonaparticularassessmentdate.Atransfertaxisa transaction-basedtax
w w w w w w w w w w w w w w w w w w
leviedonthetransferofpropertyfromonepartytoanother.Atransfertax is based on the value of the
w w w w w w w w w w w w w w w w w w w w w
property at date of transfer.
w w w w w
15. Ifthefederalgovernmentcould―piggyback‖ anationalsalestaxonexistingstatesalestax
w w w w w w w w w w w w w w w
collectionsystems, thefederalgovernmentcouldavoidcreatinganewfederal agency for
w w w w w w w w w w w w w
collectingthetax.Incontrast,thefederalgovernmentwouldhavetocreateanewcollection system
w w w w w w w w w w w w w w w w
foranationalVAT.However,anationalVATwouldbelesslikelytocausejurisdictional conflict
w w w w w w w w w w w w w w w w
betweenthefederalgovernmentandthestatesbecausestatesdon‘tdependonVATs as a source
w w w w w w w w w w w w w w w w
of revenue.
w w
16. TheInternalRevenueCodeis federalstatutory law,enactedbyCongress andsignedby the President.
w w w w w w w w w w w w w w w
Technically,Treasuryregulationsonlyinterpretandexplainthestatuteandaren‘tlaws intheirown
w w w w w w w w w w w w w w w
right.Thus,regulationsarelessauthoritativethantheCodeitself.However,because Congress
w w w w w w w w w w w w w
authorizedtheTreasury towriteregulations, they arethegovernment‘s official interpretation of
w w w w w w w w w w w w w
statutory law. Practically, theregulations carry considerableauthoritative weight.
w w w w w w w w w
Application Problems w
1. a. Thestatementoffactsidentifiesthreetaxpayers:Mr.JoshKenney,JKServices,andJK
w w w w w w w w w w w w w
Realty.
w
b. Thegovernment ofthelocality inwhichMr.Kenney resides,thestategovernment of
w w w w w w w w w w w w w
Vermont,andtheU.S. governmenthavejurisdictiontotax Mr.Kenney.Thelocal
w w w w w w w w w w w w w
governments ofthefourcounties inwhichJKServices conducts business,thestate
w w w w w w w w w w w w w
governmentofVermont,andtheU.S.governmenthavejurisdictiontotaxJKServices. The
w w w w w w w w w w w w w w
cityofBoston,thestategovernmentofMassachusetts,andtheU.S.government have
w w w w w w w w w w w w w
jurisdiction to tax JK Realty.
w w w w w
2. a. TheUnitedStateshasjurisdictiontotaxMrs.Maybecausesheisapermanentresident.
w w w w w w w w w w w w w w
b. TheUnitedStateshasjurisdictiontotaxMrs.MayonlyontheU.S.sourcerental
w w w w w w w w w w w w w w
income generated by the Manhattan real estate.
w w w w w w w
Copyright©2020 McGraw-Hill Education. Allrights reserved. w w w w w w
Noreproductionordistribution withoutthepriorwrittenconsent ofMcGraw-Hill
w w w w w w w w w w
Education. w
, c. TheUnited Statesdoesnot havejurisdictiontotax Mrs.May.
w w w w w w w w w w
d. TheUnited Stateshasjurisdiction totax Mrs. Maybecause sheisaU.S.citizen.
w w w w w w w w w w w w w w
3. a. TheUnited Stateshas jurisdiction totax Mr.Tompkin because he isaU.S citizen.
w w w w w w w w w w w w w w
b. TheUnitedStateshasjurisdictiontotaxMr.TompkinonlyontheU.S.sourcerental
w w w w w w w w w w w w w w
income generated by the Buffalo real estate.
w w w w w w w
c. TheUnitedStateshasjurisdiction totax Mr.Tompkinbecause heisapermanent resident.
w w w w w w w w w w w w w w
d. TheUnitedStateshasjurisdictiontotaxMr.TompkinonhisshareoftheU.S.
w w w w w w w w w w w w w w
source business income generated by Sophic Partnership.
w w w w w w w
4. State A: w
Volumeof salesbeforerateincrease w w w w w $800,000,000
Originaltaxrate w w .05
Revenuebeforerateincrease w w w $40,000,000
Volumeof salesafter rateincrease w w w w w $710,000,000
Newtax rate w w .06
Revenue afterrateincrease w w w $42,600,000
Additionalrevenue($42,600,000−$40,000,000) w w w $2,600,000
StateZ: w
Volumeofsalesaddedtotax base w w w w w w $50,000,000
Tax rate w .05
Additional revenue w $2,500,000
5. a. Thepropertytaxis$8,300($415,0002%).
w w w w w w w
b. Thepropertytax is$19,000([$500,000 2%]+[$225,000 4%]).
w w w w w w w w w w w
6. a. The property tax is$39,000 ($1.3million 3%).
w w w w w w w w
b. The propertytax is$85,000 ([$2million 3%]+[$2.5million 1%]).
w w w w w w w w w w w w w
7. Increase in County G‘s aggregate assessed property tax value
w w w w w w w w $23,000,000
wAssessedvalueofLexon‘snewfacility w w w w w (20,000,000)
Net increase in County G‘s tax base
w w w w w w $3,000,000
wTaxrate w
.04
Net effect onCountyG‘scurrentyear revenue
w w w w w w w $120,000
8. a. Value of property purchased in State K w w w w w w $600,000
Use tax rate in State H
w w w w w w
.06
Precredit usetax
w w w $36,000
Salestax paidtoStateK w w w w w (18,000)
Usetax owedtoStateH w w w w w $18,000
b. Value of property purchased in State L
w w w w w w $750,000
Use tax rate in State H
w w w w w w
.06
Copyright©2020 McGraw-Hill Education. Allrights reserved. w w w w w w
Noreproductionordistribution withoutthepriorwrittenconsent ofMcGraw-Hill
w w w w w w w w w w
Education. w
, Precredit usetax
w w w $45,000
Salestax paidtoStateL
w w w w w (48,750)
Usetax owedtoStateH
w w w w w -0-
Copyright©2020 McGraw-Hill Education. Allrights reserved.
w w w w w w
Noreproductionordistribution withoutthepriorwrittenconsent ofMcGraw-Hill
w w w w w w w w w w
Education. w
