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MrRissso [65]
3 years ago
12

McCoy's Fish House purchases a tract of land and an existing building for $910,000. The company plans to remove the old building

and construct a new restaurant on the site. In addition to the purchase price, McCoy pays closing costs, including title insurance of $2,100. The company also pays $12,200 in property taxes, which includes $8,100 of back taxes (unpaid taxes from previous years) paid by McCoy on behalf of the seller and $4,100 due for the current fiscal year after the purchase date. Shortly after closing, the company pays a contractor $45,500 to tear down the old building and remove it from the site. McCoy is able to sell salvaged materials from the old building for $3,200 and pays an additional $10,100 to level the land.

Business
1 answer:
Cerrena [4.2K]3 years ago
3 0

Answer:

SOLUTION FOUND IN THE ATTACHMENT BELOW.

Total cost of Land = $ 972,600

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Consider a mutual fund with $260 million in assets at the start of the year and 10 million shares outstanding. The fund invests
Ugo [173]

Answer: $26; $28.057

Explanation:

Total value = $260 million in assets

Shares outstanding = 10 million

Dividends = $2.5 million

Fund value at the start of the year = \frac{Total\ value}{No.\ of\ shares\ outstanding}

                                                         = \frac{260}{10}

                                                         = $26

Fund value at the end of the year:

Dividend per share = \frac{Dividends}{No\ of\ shares}

                                = \frac{2.5}{10}              

                                = $0.25

Price gain at 9% with deduction of 1% of 12b-1

Fund value at the end of the year = $26 × 1.09 × (1 - 0.01)

                                                        = $28.057

4 0
3 years ago
Lauren plans to deposit $5000 into a bank account at the beginning of next month and $175/month into the same account at the end
Serhud [2]

Answer:

$12,053.86

Explanation:

The easiest way to calculate this is using an excel spreadsheet and the future value function. Using the FV function =FV(rate,nper,pmt)

  • rate = 3%/12 = 0.25%
  • nper = 36
  • pmt = 175

This function will give us the future value of the annuity =FV(0.25%,36,175) = $6,583.60

Now we must add the future value of the original $5,000:

future value = $5,000 x (1 + 0.0025)³⁶ = $5,470.26

total future value = $6,583.60 + $5,470.26 = $12,053.86

if you do not want to use an excel spreadsheet, you can use the following formula:

F = P x ([1 + r]ⁿ - 1 )/r

F = 175 x [(1 + 0.0025)³⁶ - 1] / 0.0025 = $6,583.60

the answer will be the same

3 0
3 years ago
A corporate bond with a 6.5 percent coupon has 15 years left to maturity. It has had a credit rating of BBB and a yield to matur
Scrat [10]

Answer:

Price change in dollars = $104.22

% decrease in price of dollars = 11.13%

Explanation:

We assume the corporate bond have a face value of $1,000

Face Value = $1000

Coupon = 6.5%*1000/2 =32.50

Number of Periods = 15*2 =30

Semi annual rate of BBB bond = 7.2%/2 =3.6%

Price of BBB Bond = PV of Coupons + PV of Par Value =

Price of BBB Bond = 32.50*(((1-(1+3.6%)^-30)/3.6%)+1000/(1+3.6%)^30

Price of BBB Bond = $936.43

Semiannual Discount Rate for BB bond = 8.5%/2 = 4.25%

Price of BB Bond = PV of Coupons + PV of Par Value

Price of BB Bond = 32.50*(((1-(1+4.25%)^-30)/4.25%)+1000/(1+4.25%)^30

Price of BB Bond= $832.21

Price change in dollars = $936.43 - $832.21

Price change in dollars = $104.22

% decrease in price of dollars = $104.22 / $936.43

% decrease in price of dollars = 0.111295025

% decrease in price of dollars = 11.13%

6 0
3 years ago
After a recession when the economy starts to expand again, firms tend to?
labwork [276]

After a recession when the economy starts to expand again, firms tend to increase share repurchases faster than they increase dividends.

An economy is the area of ​​production, distribution, trade and consumption of goods and services. Generally, it is defined as a social domain emphasizing practices, discourses, and material expressions related to the production, use, and management of scarce resources.

Economy is defined as the management of community, business, or family financial matters. An example in economics is the US stock market system.

The economy is the system in which goods are produced and exchanged. Without a viable economy, the nation will collapse. There are three main types of economy: free market, command economy and mixed economy.

Learn more about economy here:brainly.com/question/1106682

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6 0
2 years ago
Identify which of the following microeconomic topics can have an impact on macroeconomic topics?
Anestetic [448]

Answer: B. How do people decide how much to save for the future, or whether they should borrow to spend beyond their current means?

Explanation:

It should be noted that microeconomics has to do with studying of economic agents like the individuals and the firms and how their decision affects the society while macroeconomics deals with the whole economy.

The microeconomic topics can have an impact on macroeconomic topics is option B "How do people decide how much to save for the future, or whether they should borrow to spend beyond their current means".

This is because savings and expenditure have an impact on the economy had whole and this can lead to certain decisions to be taken by the government.

8 0
3 years ago
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