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2 years ago

Kristen Lu purchased a used automobile for 8,000 at the beginning of last year and incurred the following operating costs:

Business

1 answer:

TEA [102]2 years ago

8 0

Depreciation = 8000/5 = 1600

Insurance = 1200

Garage Rent = 360

Automobile tax and license = 40

Variable operating cost = 0.14 per mile

Variable operating costs include gasoline, oil, tires, maintenance, and repairs. Kristen estimates that, at its current usage rate, the car will have zero resale value in five years, so the annual straight-line depreciation is $1,600. Cars are garaged for a monthly fee.

Requirement:

Kristen drove the car 10,000 miles last year. Compute the average cost per mile of owning and operating the car.

(Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Fixed cost per mile (3,200 ÷ 10,000 miles) = 0.32

Variable operating cost per mile = 0.14

Average cost per mile = 0.46 (0.32 + 0.14)

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Alain mire files a single tax return and has adjusted gross income of $304,000. his net investment income is $53,000. what is th

scoray [572]

Answer:

$2,014

Explanation:

Alain's net investment income tax is the lesser of 1) his net investment income ($53,000) or 2) his modified adjusted gross income less the threshold of $200,000 .

Therefore

$304,000 - $200,000 = $104,000

3.8%×$104,000= $3,952

($53,000 × 3.8% )= $2,014

The additional tax that alain will pay on his net investment income for the year is $2,014

4 0

3 years ago

What is the present value of $1,400 a year at a discount rate of 8 percent if the first payment is received 7 years from now and

valentinak56 [21]

Answer:

Present Value = $9,417.69 (Approx)

Explanation:

Given:

Annual payment = $1,400

Total payments = 25

Rate = 8% = 0.08

Computation:

First payment [7 years from now ]

So,

Present Value = $1,400(1/1.08⁶)[1 - (1/1.08)²⁵] / 0.08

Present Value = $1,400[6.72692]

Present Value = $9,417.69 (Approx)

5 0

2 years ago

Lillypad Toys is a manufacturer of educational toys for children. Six months ago, the company's research and development divisio

Reptile [31]

Answer:

Option A; INCREASED COMPETITION FROM IMITATORS.

Explanation:

Innovation occurs only when something is entirely new, having never been done before. Innovation also exist when something which may have been done elsewhere is done for the first time in a given industry.

On the other hand, when other competitors in the same industry subsequently copy the innovator, even though it is something new for them, then it is imitation.

When a company comes out with a new product, its competitors typically go on the defensive, doing whatever they can to reduce the odds that the offering will eat into their sales. Responses might include: cranking up marketing efforts, offering discounts to channel partners and even lobbying for regulations that would hinder the rival's expansion.

Therefore, Lilypad's managers should prepare for INCREASED COMPETITION FROM IMITATORS next.

7 0

2 years ago

Gentry Inc. purchased 90% of Gaspard Farms on January 5, 2019. During 2019, Gentry sold Gaspard Farms for $650,000 goods which h

Wewaii [24]

Answer:

$5572500

Explanation:

consolidated cost of goods sold for 2020 would be:

consolidated cost of goods sold = ( total of goods sold by bought company ) - ( intra-entity transfer ) + ( ending unrealized gross profit ) - ( beginning unrealized gross profit )

= ( 5400000 + 1200000 ) - ( 1000000 )+(1000000*20%)*20% - {(650000*15%)*(450000/650000)}

= 6600000 - 1040000 - ( 97500 * 45/65 )

= $5572500

3 0

3 years ago

It is the custom for paper mills located alongside the Layzee River to discharge waste products into the river. As a result, ope

Hoochie [10]

Answer:

D) The supply of the output from the hydroelectric power plants to increase

Explanation:

The externality here is a negative one where the hydroelectric plants has to bear the cost of pollution as the paper mills operates.

Correcting means to make the paper mills pay for the external costs of their production and compensate the power plant for the additional cost that incurred as they have to clean up the water.

As the cost of production reduces, the power plant will be more willing to supply electricity at similar prices, ie. their supply curve will shift to the right. It will intersect with the demand curve of the consumers at a point with higher quantity (and maybe lower price)

In other words, they will supply more electricity.

3 0

2 years ago