Explain what is meant by capital vs. income strategies in pinnipeds. Which strategy is used by phocids? Otariids? How do you know?

Using specific marine mammal species in your answer, explain the differences in sound production and reception (how they hear) between odontocetes and mysticetes.

Analysis the evidence for and against the idea that Killer Whales are contributing to sequential megafaunal collapse in the North Pacific. State two pieces of evidence for and two pieces of evidence against.

6 points:  Identify the two forces that cause capillary exchange.  Identify for each whether it causes molecules to move into or out of the capillary.

8 points:  What is the difference between endocrine and exocrine glands.  Give an example of each.

10 points:  Identify the antagonistic hormones that control blood calcium levels.  Give the effect of each and the bone cell that is stimulated to cause this effect.

8 points:  Hormones bind to receptors of target cells.  Identify the location of the receptor and the effect of hormone binding for both protein and steroid hormones.

Abba Zabba is a single taxpayer who purchased a home for $300,000.  At the time they purchased this home, they used all of their §121 gain exclusion. After living in the home for 16 months, unforeseen circumstances caused Abba Zabba to have to move across the country. Consequently, they sold this home for $600,000.  How much, if any, of their gain on the sale of this residence do they recognize in taxable income? Round all calculations to the dollar.

Lee bought a hot-air balloon 3 years ago for $6,000 cash, $34,000 loan, $1,000 legal fees, and $500 commissions. During the past 3 years, Lee depreciated the balloon $17,500. Iorek purchases the hot-air balloon from Lee by giving him armor worth $15,000 and assuming Lee’s remaining debt worth $15,000. Lee pays $2,500 towards legal fees and commissions to complete the sale. What is Lee’s recognized gain or loss on the sale?

Which of the following is true regarding the sale or exchange of an option?