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jekas [21]
3 years ago
7

Cassie is preparing her federal income tax return. Which of the following items should be excluded from Cassie's gross income?

Business
1 answer:
Masja [62]3 years ago
8 0

Answer:$100,000 in cash received by Cassie when her grandmother died.

Explanation: In preparing federal income tax return, there are some income that are excepted from tax and they include:

1. Any payment received as an inheritance

2. Cash gift for the purchase of a property

3. Income received as compensation for loss.

4. Income earned outside the taxing jurisdiction.

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Answer: $‭2,025‬

Explanation:

Your monthly payment based on the rate of 6.3% per annum is:

= (6.3% * 1,620,000 ) / 12 months

= 102,060‬ / 12

= $‭8,505‬

Now that the rate has gone up to 7.8% per annum, the payment is:

=  (7.8% * 1,620,000 ) / 12 months

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Payment went up by:

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3 years ago
You want to buy a new sports car from Muscle Motors for $38,000. The contract is in the form of an annuity due for 60 months at
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Answer:

$800.71

Explanation:

In this question we use the PMT formula that is shown on the attachment below:

Data provided in the question

Present value = $38,000

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The formula is shown below:

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The present value come in negative

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3 years ago
If interest rates in general were to fall, 1. the prices of existing bonds would rise 2. the prices of existing bonds would fall
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Answer:

1. the prices of existing bonds would rise

Explanation:

General Interest rates and price of a bond are inversely related. The market interest rate also reflects an investors expected rate of return also referred to as yield to maturity i.e YTM.

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So, when market interest rates fall in general, this would lead to a rise in the price of bonds as general interest rates represent yield to maturity.  

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Service innovation is similar to product innovation except that this innovation relates to services.

Find out more at: brainly.com/question/17218280

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