Answer:
Consider the following explanation
Explanation:
Foreign tax credit allowable is the minimum of Federal Income Tax and Income tax paid in foreign country. Here, Jimenez had paid 40% (2,000,000/5,000,000) income tax in foreign country. So. Jimenez will only be eligible to take foreign tax credit of 1,050,000 i.e. 5,000,000 * 21% and there will be carryover of $950,000 (2,000,000 - 1,050,000) foreign taxes.
There is carryover tax when we cannot use the whole amount of foreign tax credit in the current year and the balance foreign tax is carried over to future years.
Answer:
C) A 25% increase in sales resulting in a 30% increase in net operating income.
According to the policy loan clause, the policy owner may borrow any sum up to the policy's cash value. As a result, choice (C) is the best way to respond.
<h3>What is policy loan?</h3>
A policy loan is given out by an insurance provider and is secured by the cash value of the borrower's life insurance policy. A "life insurance loan" is another name for it. They used to be renowned for having cheap interest rates, but that isn't necessarily the case now.
Even though they have limitations, policy loans typically provide easy access to money. When a universal or whole life insurance policy has built up cash value, policy loans may be taken out.
Hence, option (C) is the accurate one.
Learn more about policy loans, from:
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I believe the answer is: Germany owed large debts to other countries after World War I
After being forced to surrender in world war I, the Allies forced Germany to pay back all the expense that other countries have to made due to the war that Germany initiated as their term of surrender.
This caused a massive increase in Germany's national debt and caused a downturn in their economy.
Answer:
The answer is 7.65%
Explanation:
The cost of capital is equal to the cost of debt in this example as it involves a debt instrument. The formula for the cost of debt is as follows:
(Interest Expense x (1 – Tax Rate) ÷ (Amount of Debt – Debt Acquisition Fees + Premium on Debt – Discount on Debt)
In the example, the given values are the following:
Interest Expense = 7% x $1,000 = $70 (no tax rate was provided)
Amount of debt = $1,000 (face value of the bond)
Debt acquisition fee = $15
Discount on debt = $70 ($1,000 face value vs. the $930 proceeds of the bond, the bond was issued at a discount)
Solution:
$70 ÷ ($1,000 - $15 - $70) = 7.65% cost of capital (cost of debt)
