1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
nexus9112 [7]
3 years ago
11

Jacque Solis (age 38) is leaving her current job and would like to take a long vacation before starting new employment. She has

$65,000 in a qualified plan that she would like to live on during this period. If she is in a 25 percent marginal tax bracket, how much will she have left after paying taxes and penalties?
Business
1 answer:
Montano1993 [528]3 years ago
7 0

Answer:

Jacque Solis will have $42250 left after paying taxes and penalties

Explanation:

given data

present age = 38

qualified plan = $65,000

marginal tax = 25 %

to find out

how much will she have left after paying taxes and penalties

solution

as here qualified plan is an employer sponsored retirement plan that qualifies for special tax treatment under Section 401 (a) of Internal Revenue Code

and tax for 25 % will be here as  

Tax 25% = $65,000 × 25%

tax = $16,250

and Penalties will be here for 10 % is  

Penalties 10% = $65,000 × 10%

Penalties = $6500

so  

Net available = $65,000 - $16,250 - $6500

Net available = $42250

so Jacque Solis will have $42250 left after paying taxes and penalties

You might be interested in
What percentage of individuals aged 65 and over rated their health as good, very good or excellent during the period of 2006-200
OLEGan [10]
The correct answer for this question would be 75% seventy-five percent. The percentage of individuals <span>aged 65 and over who rated their health as good, very good or excellent during the period of 2006-2008 is 75%. Older men and women reported similar levels of health. Hope this answer the question. </span>
6 0
3 years ago
Your employer is trying to select from a list of possible capital projects. The projects, along with their cost and benefits, ar
den301095 [7]

Answer:

Project 1, 2 and 3 will be selected

Total NPV of these projects will be $2,190,000

Explanation:

Availability of capital = 1 million

Minimum 2 projects should be selected

Project 2 and 4 cannot be selected together.

Value of project =  NPV / Cost

P1 = 720,000 / 300,000 = 2.4

P2 = 780,000 / 260,000 = 3

P3 = 690,000 / 215,000 = 3.2

P4 = 700,000 / 240,000 = 2.9

P5 = 510,000 / 295,000 = 1.7

8 0
2 years ago
ABC Company insured its building on a replacement cost basis for $700,000 under a property insurance policy that included an 80%
Rama09 [41]

Answer:

$35,000

Explanation:

Given that

Insurance = $700,000

Sustained cost = $40,000

Replacement cost = $1,000,000

Policy = 80%

The computation of amount eligible for payment is as shown below:-

Insurance required = Cost of building × Co insurance

=$1,000,000 × 0.80

= $800,000

The amount eligible for payment = (Insurance Carried ÷ Insurance Required) × Loss

= $700,000 ÷ ($1,000,000 × 80%) × ($40,000)

= $700,000 ÷ $800,000 × $40,000

= 0.875 × $35,000

= $35,000

3 0
3 years ago
Reasons why in business,staff are restricted to communicate with press?​
Evgen [1.6K]

Answer:

Limited communication media can force employees to deliver messages using ineffective methods. Inappropriate upward communication tools can create confusion

Explanation:

4 0
2 years ago
Orlando Company, which applies overhead to production on the basis of machine hours, reported the following data for the period
astraxan [27]

Answer:

$37,600 favorable

Explanation:

Variable overhead spending variance can be computed as;

= (Actual hours worked × Actual variable overhead rate) - ( Actual hours worked - Standard variable overhead rate)

= ( 18,800 hours × $77,700/12,000) - (18,800 hours × $4.5)

= [(18,800 × $6.5) - (18,800 × $4.5)]

= $122,200 - $84,600

= $37,600 favorable

6 0
2 years ago
Other questions:
  • It is was that 5% product of a lot are defective, if 8 products are selected randomly, what is the probability of getting lessTh
    9·2 answers
  • When a salesperson asks the buyer "do you see how this product will benefit your organization?" he or she is using a(n) _____.​?
    15·1 answer
  • Which factor doesn’t describe management as science​
    7·1 answer
  • A teenager purchases a camera for $62 by endorsing his paycheck of $90. not having $28 change in his register the camera store o
    6·1 answer
  • Mary exchanged an office building used in her business for some land. Mary originally purchased the building for $45,000, and it
    9·1 answer
  • Angela believes that Beamer Corporation’s stock will drop in value. She borrows 150 shares from a brokerage firm when the stock
    10·1 answer
  • Chloe is the billing and accounting department manager in a large organization. The CEO is shifting the tall hierarchal structur
    8·1 answer
  • What seems to underlie self-control and ability to delay gratification?
    10·1 answer
  • Each of two stocks, A and B, is expected to pay a dividend of $7 in the upcoming year. The expected growth rate of dividends is
    6·1 answer
  • You are purchasing a 30-year, zero coupon bond. The yield to maturity is 9.1% and the face value is $1,000. What is the current
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!