Which document contains the rules and standards for representing a taxpayer?
a. Form 2848, Power of Attorney.
b. Circular 230, Regulations Governing Practice before the Internal Revenue Service.
c. Form 911, Application for a Taxpayer Assistance Order.
d. Form 8821, Tax Information Authorization.
Answers
Option b. Circular 230, Regulations Governing Practice before the Internal Revenue Service.
This document sets out the rules and standards for representing a taxpayer before the IRS. It covers topics such as who can practice before the IRS, the duties and responsibilities of practitioners, and the penalties for non-compliance. While Circular 230 provides the general guidelines for taxpayer representation, specific forms such as Form 2848, Power of Attorney and Form 8821, Tax Information Authorization may be required depending on the nature of the representation needed. Form 911, Application for a Taxpayer Assistance Order, is used in cases of extreme hardship or when the taxpayer is experiencing a significant adverse impact from IRS action.
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Related Questions
A regional trucking company landed a contract to supply products for a major retailer. To do this, it needs to hire an IT professional to create a shipment database. The new hire should be able to complete which tasks? Check all that apply.
Answers
Answer: • set up the computer hardware for the database.
• Set up the computer software for the database.
• train designated employees to use the database
• protect the confidentiality of the database
Explanation:
The options include:
a. Set up the computer hardware for the database
b. Set up the computer software for the database
c. train designated employees to use the database
d. Design a help page to show people how to use the database
e. protect the confidentiality of the database
Since the new hire is an IT professional who is employed to create a shipment database, the individual should be able to:
• set up the computer hardware for the database.
• Set up the computer software for the database.
• train designated employees to use the database
• protect the confidentiality of the database
Answer:
ACD :))
Explanation:
Under the _____, ceos and cfos may be criminally prosecuted if they knowingly certify misleading financial statements.
Answers
Under the Sarbanes-Oxley Act (SOX), CEOs and CFOs may be criminally prosecuted if they knowingly certify misleading financial statements.
The Sarbanes-Oxley Act, enacted in 2002, was a response to accounting scandals such as Enron and WorldCom that shook investor confidence in financial markets. One of the key provisions of SOX is the requirement for CEOs and CFOs to personally certify the accuracy and reliability of financial statements submitted to the Securities and Exchange Commission (SEC). This certification holds executives accountable for the information provided to investors and the public. If CEOs and CFOs knowingly certify misleading financial statements, they can face criminal prosecution, including fines and imprisonment.
The intention behind this provision is to ensure corporate accountability and transparency in financial reporting. By holding top executives personally responsible for the accuracy of financial statements, SOX aims to deter fraudulent activities and promote investor confidence. This provision emphasizes the importance of ethical conduct, accurate financial reporting, and the disclosure of material information to stakeholders.
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Which of the following factors would make the demand for a good elastic?
The good is a necessity.
The consumer does not have much time to shop for alternatives.
The good has many substitutes.
The good is only produced by one company, a monopoly.
Answers
Answer:
The god has manmyuuuu substitustes
Explanation:
Explain whether each of the following will cause a shift of the AD curve OR a movement along the AD curve.
a. Firms become more optimistic and increase their spending on machinery and equipment.
b. The federal government increases taxes in an attempt to reduce a budget deficit.
Answers
a. Firms becoming more optimistic and increasing their spending on machinery and equipment will cause a shift of the Aggregate Demand (AD) curve.
b. The federal government increasing taxes in an attempt to reduce a budget deficit will also cause a shift of the AD curve.
a. This is because an increase in business investments directly affects the components of aggregate demand, leading to higher overall spending in the economy.
When firms become more optimistic and increase their spending on machinery and equipment, this leads to an increase in investment. As investment is a component of aggregate demand (AD), this will cause a shift of the AD curve to the right, indicating higher overall demand in the economy.
b. Higher taxes reduce disposable income, leading to lower consumption spending by households. This, in turn, reduces the overall aggregate demand in the economy.
As consumption is also a component of AD, this results in a shift of the AD curve to the left, indicating a decrease in overall demand in the economy.
In both cases, the changes lead to a shift of the AD curve, rather than a movement along the AD curve.
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with the aid of a fully labeled graph, explain why firms under perfect market conditions cannot make economic profit in the long run
Answers
In a perfectly competitive market, firms cannot make economic profit in the long run due to the presence of free entry and exit. This can be illustrated in a graph:
The horizontal axis represents the quantity of output produced, and the vertical axis represents the price and cost. The demand curve (D) and the marginal revenue curve (MR) are perfectly elastic, reflecting the large number of buyers and sellers in the market.
The average total cost (ATC) and the marginal cost (MC) curves are U-shaped, indicating economies of scale at low levels of output and diminishing returns at higher levels.
In the long run, if firms are making economic profit (represented by the gap between ATC and MR), new firms are attracted to the industry due to the absence of barriers to entry. As new firms enter, the supply curve (S) shifts to the right, increasing market competition.
As more firms compete, the price decreases until it reaches the minimum average total cost (ATC) of the firms in the industry. At this point, firms earn only normal profit, where the ATC intersects with the MR curve, indicating zero economic profit.
Therefore, under perfect market conditions, firms cannot make economic profit in the long run as free entry and exit eliminate any excess profits, ensuring that the market reaches a state of equilibrium where all firms earn only normal profit.
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Current liabilities are those obligations that are payable within ______ or the operating cycle whichever is ____.
Answers
Answer: one year; longer
Explanation:
Current liabilities are those obligations that are payable within one year or the operating cycle whichever is longer.
Current Liabilities are debt that a company owes that are due usually within a year but if the operating cycle of the business is longer then current liabilities will be those owed for the operating cycle.
Examples include; Accounts Payable, Interest payable, Income taxes payable and bank overdrafts.
Define demand and supply
Answers
In the united states what is the significance of April 15
Answers
Answer:
Hope it helps
have a good day Ahead
April 15th of the United States is Tax day
Tina buys a cat and keeps it in her apartment, even though her apartment lease includes a clause that prohibits tenants from owning a pet. She does not remove the cat even after the landlord gives her a written reminder of the lease agreement and insists that she remove the pet from the apartment. Tina refuses, saying that the cat is very small and will cause no damage to the apartment. The landlord decides to remove Tina due to the breach of the lease agreement. The legal process to remove the tenant is known as
Answers
Answer:
actual eviction.
Explanation:
Since in the question it is mentioned that the Tina who buys a cat but as per the agreement it is written that it prohibits tenants from owning a pet. But after so many warnings but she denied to remove the cat. This results to remove the tenant as it is a breach of the lease agreement
Therefore this scenario represents the actual eviction as it is physically forced to leave the apartment when the tenant ignored the warnings given by the landlord. In this, the landlord could also include the police
Carla Vista Company has a machine that affixes labels to bottles. The machine has a book value of $76,800 and a remaining useful life of 3 years and no salvage value. A new, more efficient machine is available at a cost of $288,000 that will have a 3-year useful life with no salvage value. The new machine will lower annual variable production costs from $499,200 to $393,600. Prepare an analysis showing whether the old machine should be retained or replaced.
Answers
Based on the analysis, the old machine should be replaced as it would result in a cost savings of $64,800 over the 3-year period.
To determine whether the old machine should be retained or replaced, we need to compare the costs associated with each option. Let's analyze the costs for both scenarios:
1. Retaining the old machine:
The old machine has a book value of $76,800 and a remaining useful life of 3 years. Since it has no salvage value, we can assume that it will be fully depreciated by the end of its useful life. Therefore, there will be no salvage value to consider. The annual variable production costs with the old machine are $499,200.
Total cost over 3 years = Annual variable production costs × Number of years
Total cost over 3 years = $499,200 × 3
Total cost over 3 years = $1,497,600
2. Replacing with the new machine:
The new machine has a cost of $288,000 and a useful life of 3 years with no salvage value. It will lower the annual variable production costs to $393,600.
Total cost over 3 years = Cost of the new machine + Annual variable production costs × Number of years
Total cost over 3 years = $288,000 + ($393,600 × 3)
Total cost over 3 years = $288,000 + $1,180,800
Total cost over 3 years = $1,468,800
Now, let's calculate the cost savings by replacing the old machine with the new one:
Cost savings = Total cost with old machine - Total cost with new machine
Cost savings = $1,497,600 - $1,468,800
Cost savings = $28,800
The cost savings over the 3-year period by replacing the old machine with the new one is $28,800. Therefore, it is financially beneficial to replace the old machine as it would result in a cost savings. The old machine should be replaced, and the new machine should be acquired.
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you are bullish (i.e., expect price to go up in future) on telecom stock. the current market price is $50 per share, and you have $10,000 of your own to invest. you borrow an additional $10,000 from your broker and invest $20,000 in the stock. what will be your rate of return if the price of telecom stock goes up by 10% during the next year? how far does the price of telecom stock have to fall for you to get a margin call if the maintenance margin is 30%?
Answers
If the price of telecom stock goes up by 10%, the new price would be $55 per share, and the value of your investment would be $22,000.
Your initial investment was $20,000, and you borrowed $10,000, so your total investment is $30,000.
Therefore, your rate of return would be ((22,000 - 20,000) / 20,000) + ((22,000 - 10,000) / 10,000) = 0.6 or 60%.
To calculate the price at which you would get a margin call, you need to use the maintenance margin and the amount you borrowed from the broker.
The maintenance margin is 30%, which means that the equity in your account (i.e., the value of your investment minus the amount you borrowed) needs to be at least 30% of the total value of the investment.
If the total value of the investment is $20,000 + $10,000 = $30,000, then the maintenance margin is 30% of $30,000, or $9,000.
To calculate how far the price of the stock would have to fall for you to get a margin call, you can use the following formula:
(price at which margin call occurs - initial investment) / initial investment = maintenance margin
Substituting the values, we get:
(price at which margin call occurs - $20,000) / $20,000 = 0.3
Solving for the price, we get:
price at which margin call occurs = $14,000
Therefore, if the price of the stock falls below $14,000, you would get a margin call.
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Should businesses & corporations make political statements?
Answers
Answer:
yes for reaching facts evaluation
The FEMA Disaster Housing Program provides grants to repair family homes back to their original pre-disaster condition.
T/F
Answers
False:The FEMA Disaster Housing Program provides temporary housing assistance to individuals and families who have been displaced from their homes due to a disaster.
This assistance may include financial assistance for home repairs to return the damaged home to a safe, sanitary, and functional condition, but it is not limited to repairs to the pre-disaster condition. Additionally, the program may provide rental assistance or placement in temporary housing units such as hotels or mobile homes. The specific type of assistance provided by the FEMA Disaster Housing Program may vary depending on the nature and severity of the disaster, as well as the needs of the affected individuals and families.
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which of the following has been greatly influenced by the increased use of social commerce websites and internet access, especially when buyers don't see much difference among available products?
Answers
The following has been greatly influenced by the increased use of social commerce websites and internet access, especially when buyers don't see much difference among available products is option A. competition
What is competition in business?Competition refers to a condition in a market in which organization or sellers independently struggle for the patronage of customers in order to achieve a particular business objective, for example, profits, sales and/or market share. Context: Competition in this context is often equated with rivalry.
Therefore, the correct answer is as given above
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The complete question goes thus:
which of the following has been greatly influenced by the increased use of social commerce websites and internet access, especially when buyers don't see much difference among available products?
A. Competition
B. Marketing
C. Advertisement
What is deliberate and purposeful choice to speak up for personal needs and or ideas
Answers
Purposeful practice is intended to enhance performance and is defined by remaining committed and upbeat, establishing precise objectives, scheduling time each week, accepting challenges that are above your current level of competence, and asking for feedback.
What is intentional speaking?Deliberately means to carefully consider something or to speak about it; it also refers to the cautious decision-making process' slow and controlled speed.
What is communication purposeful practice?Deliberate practice is described as deliberate action that is effortful in character, conducted frequently without immediate reward, and has as its primary objective the enhancement of one's own performance rather than enjoyment.
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The account of ABC Corp. prepared a statement of affairs. Total assets which there are no claims or liens are expected to produce P2,100,000. Unsecured claims of all classes totaled to P3,150,000.
The following are claims deemed outstanding:
Accrued salaries. P45,000
Unrecorded note for P30,000, on which P1,800 of interest has accrued
A note for P90,000 secured by P120,000 receivable, estimated to be 60% collectible
A P45,000 note on which P900 interest has accrued with a property having book value of P30,000 and a market value of P54,000 is pledged to guarantee payment of principal and interest.
Unpaid income taxes of P105,000.
What is the amount realized by partially secured creditors?
Group of answer choices
P72,000
P83,700
P90,000
P83,160
Answers
So, the amount realized by partially secured creditors is -$6,000.
The amount realized by partially secured creditors can be calculated as follows:
Secured claims that are expected to be collected in full:
P90,000 secured by P120,000 receivable (60% collectible) = P90,000 x 60% = P54,000
P45,000 note secured by P30,000 property = P45,000
Unsecured claims that are expected to be collected in full:
Accrued salaries = P45,000
Unrecorded note for P30,000 (100% collectible) = P30,000
Unsecured claims that are partially collectible:
P105,000 unpaid income taxes = P105,000
The amount realized by partially secured creditors can be calculated as follows:
P54,000 secured claims + P45,000 unsecured claims = P99,000
P99,000 - P105,000 = -$6,000
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The people or organizations that vie with your company for customers or resources are known as _____.
Answers
When other people or companies vie for customers or resources with your company, they are called the Competitors.
Who are the competition?They are those who compete with you for customers. They reduce the market share you have by acquiring their own.The competition are the reason a company engages in marketing as it would help them get more customers. If a company had no competitors, they would not engage in as much marketing and would charge higher prices.
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ac delco produces auto batteries, which it sells to an automobile parts wholesaler, such as auto parts warehouse. ac delco's price becomes auto parts warehouse's cost. auto parts warehouse's price becomes the cost for auto part retailer napa. napa then marks up from its cost to sell to consumers. this is an example of
Answers
The auto parts warehouse's price becomes the cost for auto part retailer napa. napa then marks up its cost to sell to consumers. this is an example of Markup Chain Examples.
What is the cost?A cost is the worth of money that have been expended to produce stuff or provide a service and is consequently no longer available to be utilized in producing, education, retail, and reporting. In the situation of a cost of capital, the amount wasted on the sale is considered the price.
The price structure of an entire channel can be determined by a markup chain. Selling prices of producers are converted into wholesalers' costs, suppliers' costs are converted into retailers' costs, and these costs are then combined with a markup for retail sales to form the retail selling price.
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You try to explain the number of Amazon shares traded in the stock market per day in 2021. As an independent variable, you choose the closing price of the share. This is an example of:
a). Simultaneous causality
b). Invalid inference due to a small sample size
c). Sample selection bias since you should analyse more than one stock
d). Perfect multicollinearity
Answers
The number of Amazon shares traded in the stock market per day in 2021 is an example of invalid inference due to a small sample size.
Analyzing the relationship between the number of Amazon shares traded and the closing price as an independent variable may lead to invalid inferences due to a small sample size. While the closing price of the share can potentially impact the trading volume, it is important to consider other factors and a larger sample size to draw meaningful conclusions. By focusing on only one stock, Amazon, there is a risk of overlooking the broader market dynamics and potential influences from other stocks. To mitigate sample selection bias and achieve a more comprehensive analysis, it would be advisable to include multiple stocks in the study. Perfect multicollinearity refers to a situation where two or more independent variables are highly correlated, which is not directly applicable in this scenario.
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The process of sending and receiving messages with words defines what
Answers
Answer:
verbal communication
Explanation:
hope this helps
Answer: Text messaging
Explanation:
What type of record should always be kept in hard copy form?
O A. corporate bylaws
OB. articles of incorporation
C. dividend vouchers
OD. financial statements
Answers
The record that should always be kept in hard copy form is B. articles of incorporation.
Why should these be in hard copy ?Articles of incorporation are legal documents that establish a corporation. They are filed with the state in which the corporation is formed and must include certain information, such as the name of the corporation, its purpose, and the names and addresses of its directors.
Articles of incorporation are important documents that should be kept in a safe place. They may be needed for a variety of reasons, such as to prove the existence of the corporation or to obtain financing.
It is a good idea to keep hard copies of articles of incorporation, as well as digital copies. Hard copies can be stored in a safe deposit box or other secure location. Digital copies can be backed up on a computer or external hard drive.
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Answer: dividend vouchers
Explanation: hope this helps!
Explain the concept of market and market identification.
Identify communications channels used in sales promotion.
Explain types of advertising media.
Describe effective advertising layouts.
Write copy for advertisements.
Answers
Copywriting for advertisements should be concise and to the point, utilize descriptive language, use active voice, include an attention-grabbing headline, and provide a clear call-to-action.
What is Copywriting?Copywriting is the practice of crafting words and phrases in order to create promotional materials that are designed to sell products or services. It requires a great deal of creativity and an ability to write in an engaging and persuasive manner. Copywriting involves researching, understanding the target audience, creating attention-grabbing headlines and crafting persuasive copy to persuade readers to take action. It is an essential part of the marketing process and can be used to effectively reach potential customers and increase sales. Copywriters use a variety of techniques to create effective copy, such as using powerful words, creating vivid imagery, and making use of persuasive language. Copywriters must be able to understand the needs of their target audience, create compelling headlines and body copy, and be able to effectively target the right people. In addition, copywriters must be able to measure the success of their copy and make adjustments based on the results.
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Blue Spruce Corp. was organized on January 1, 2022. It is authorized to issue 19,500 shares of 6%, $50 par value preferred stock, and 451,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year.
Jan. 10 Issued 65,500 shares of common stock for cash at $6 per share
Mar. 1 Issued 1,110 shares of preferred stock for cash at $54 per share
May 1 Issued 110,500 shares of common stock for cash at $5 per share
Sept. 1 Issued 4,100 shares of common stock for cash at $8 per share
Nov. 1 Issued 2,100 shares of preferred stock for cash at $60 per share
Journalize the transactions.
Answers
A transaction refers to any business activity or event that involves the exchange or transfer of goods, services, or financial resources between two or more parties. Transactions are recorded in the accounting system to track the flow of economic resources and to ensure accurate financial reporting.
To journalize the transactions, we need to record the details of each transaction in the general journal. Here are the journal entries for the given stock transactions:
Jan. 10: Issued 65,500 shares of common stock for cash at $6 per share
Date Account Debit Credit
Jan. 10 Cash $393,000
Common Stock $327,500
Additional Paid-in Capital - Common $65,500
Mar. 1: Issued 1,110 shares of preferred stock for cash at $54 per share
Date Account Debit Credit
Mar. 1 Cash $59,940
Preferred Stock $60,000
Additional Paid-in Capital - Preferred $-60
May 1: Issued 110,500 shares of common stock for cash at $5 per share
Date Account Debit Credit
May 1 Cash $552,500
Common Stock $331,500
Additional Paid-in Capital - Common $221,000
Sept. 1: Issued 4,100 shares of common stock for cash at $8 per share
Date Account Debit Credit
Sept. 1 Cash $32,800
Common Stock $12,300
Additional Paid-in Capital - Common $20,500
Nov. 1: Issued 2,100 shares of preferred stock for cash at $60 per share
Date Account Debit Credit
Nov. 1 Cash $126,000
Preferred Stock $126,000
Additional Paid-in Capital - Preferred $-0
Note: The Additional Paid-in Capital accounts are used to record the difference between the par value and the issue price of the stock.
Please note that the above entries reflect the issuance of stock for cash, and they do not include any additional information related to dividends, stock splits, or other adjustments that may be required.
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Ian ride bike competitive he practice hi trick 5. 8 hour a week how many week doe he pend practicing hi trick in a 4. 5 week period
Answers
If Ian spends 5.8 hours per week practicing his bike tricks, he will spend 5.8 * 4.5 = 26.1 hours practicing during a 4.5-week period.
In the given scenario, Ian spends 5.8 hours per week practicing his bike tricks. If we multiply that amount of time by the number of weeks in the 4.5-week period, we can determine the total amount of time Ian will spend practicing during that period.
To do this calculation, we simply multiply the hours per week by the number of weeks: 5.8 hours per week * 4.5 weeks = 26.1 hours.
So Ian will spend 26.1 hours practicing during the 4.5-week period.
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jordan is planning ahead for retirement and must decide how much to spend and how much to save while she's working in order to have money to spend when she retires. when the income effect dominates the substitution effect, an increase in the interest rate on savings will cause her to a. decrease her savings rate. b. increase her savings rate. c. continue saving at the current rate. d. change her savings rate but in an unknown way.
Answers
Jordan's decision on how much to spend and save while she's working is crucial in planning for her retirement.
When the income effect dominates the substitution effect, an increase in the interest rate on savings will cause her to increase her savings rate. This means that Jordan will choose to save more money as the interest rate on her savings increases.
The income effect in this scenario refers to the fact that an increase in the interest rate will lead to a higher return on her savings, thereby increasing her overall income. This increased income will then lead her to save more money for her retirement.
On the other hand, the substitution effect refers to the fact that as the interest rate on savings increases, it becomes more attractive to save and less attractive to spend. This would lead to a decrease in her spending rate and an increase in her savings rate.
Therefore, when the income effect dominates the substitution effect, an increase in the interest rate on savings will cause Jordan to increase her savings rate.
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99. agency is the act of representing someone in the purchase, sale, or lease of a property. subagency is the act of representing:
Answers
Agency is the act of representing someone in the purchase, sale, or lease of a property. Subagency is the act of representing a principal who is represented by an agent
The connection that arises when one person or party hires another to perform an action on his behalf, such as performing his work, selling his goods, or managing his business, is defined by the agency. When a real estate agent, for example, acts on behalf of a principal such as a property owner in the acquisition, sale, or lease of a property, that connection is referred to as an agency.
Whereas, when one agent employs another agent to help with the principal's representation, this is known as a subagency. The primary agent in this situation is the original agent, while the subagent represents the same principal but helps with the transaction.
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PLEASE
what is lean production? in details (GCSE) keywords.
Answers
Answer:
actually I am very sorry I didn't learn this I don't take business
Explanation:
Sorry would there be anything else I can help u with
Which of the following is an example of a soft skill?
A. Ability to use CSS spreadsheets
B. Ability to manage spreadsheets
C. Ability to work well with a project team
D. Ability to manipulate images using computer software
Answers
Answer:
Ability to work well with a project team
Explanation:
Calculate the pay for the following day of a weekly time card given a wage of $15/hr
Answers
Answer: $132
Explanation:
There was an example earlier where Flo Haysbert only contacted college students from Central-Ohio for research on automobile insurers for all college students. Which issue will undermine her results
Answers
The issue will undermine the following results: the use of a stratified random sample, the wording of questions, and the under-coverage of data.
What do you mean by population data?Population statistics is described as a fixed of individuals who share a feature or set of these. A populace is specially decided with the aid of using geographies, together with all people in California, or all people withinside the United States.
Demographers (those who observe human populations) categorize this as the natural populace.
Therefore, The issue will undermine the following results: use of a stratified random sample, the wording of questions, and under-coverage of the population data.
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