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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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Taxes cause deadweight losses because they
vitfil [10]

Answer:

All of the other options are correct.

Explanation:

Deadweight losses can be described as losses that is made to the economy, this is as a result of taxes or price control. Deadweight losses occur when supply and demand are not balanced, if this happens it will eventually lead to market inefficiency.

Taxes can be defined as the amount of money charged by the government which is above the selling price of a particular good or service.

Taxes can lead to deadweight loss when there is an increase in the price of a product which will eventually lead to a drastic decrease in the demand of the product.

5 0
3 years ago
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What was a result of the Mexican-American War
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Outcome of the War. The Treaty of Guadalupe Hidalgo was a peace treaty signed on the 2nd of Feburary, 1848, at the Villa de Guadalupe Hidalgo.The signing of this treaty ended the war between the United States and Mexico.
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3 years ago
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A company is trying to decide whether to go ahead with an investment opportunity that costs $90,000. The expected incremental ca
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Answer:

The payback period for the $90000 investment is 5 years.

Explanation:

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This requires that the initial capital investment must be established,which is $90000

However, the investment gives expected incremental cash inflows of $50000 as well as outflows of $32000, as a result , annual net cash flow is $18000($50000-$32000)

In other words,payback period is $90000/$18000=5 years

The payback refers to number of years it takes the initial investment to be recouped.This means that any net cash inflows after 5 years are the project's return.

4 0
3 years ago
A company can sell all the units it can produce of either Product A or Product B but not both. Product A has a unit contribution
Mashutka [201]

Answer:

Income = $30,000

Explanation

<em>Whenever a company is faced with a limiting factor i.e a resource in short supply, the company should allocate the resource to the product </em><u><em>with he highest contribution per unit of the scare resource</em></u>

Product       Cont/unit          machine hr /unit    cont/hr    Ranking

A                    $8                    2 hrs                      $4/hr             2nd  

B                    $18                  3 hrs                       $6/hr            1st

<em>Hence the company should allocate the resource to the product B</em>

<em>Hence the total contribution</em>

= 5000 hrs × $6 per hr.

= $30,000

Income = $30,000

6 0
3 years ago
Kapcom Telecom wants to implement an on-the-job training program for the sales staff who are unaware of the technical aspects of
leva [86]

Answer:

situational restraints

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Based on the information provided within the question it seems that this scenario is illustrating situational restraints. These are factors that act as barriers preventing certain behaviors or performances. Which is the case since the company wants and needs a training program but they do not have the personnel or the money to hire professional IT trainers. Therefore placing a barrier on the knowledge and skills that are needed from the training program.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

5 0
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