Answer:
The answer is C. In today's dollars, Luis's money is worth more than Soo Lee's.
Explanation:
Present value for Luis= C(1+i)^-n= 20000(1.07)^-6 = $13326.84
Present value for Soo Lee = C(1+i)^-n= 20000(1.07)^-9= $10878.67
Present value for Luis is greater than that of Soo Lee.
I’m happy to answer this question if you can give me more detail.
The amount Jerry paid in interest is $1,040.
The given details are:
Jerry's principal amount = $ 22,000,
quarterly payment for each quarter = $ 640
Total time for which Jerry paid each quarter = 9 years
As we know, one-year consists of nine quarters and therefore the nine years will consist of 36 quarters.
Thus, the total amount paid by Jerry for nine years in each quarter is $23,040.
Therefore, the correct option is b.
To know more about the calculation of the interest, refer to the link below:
brainly.com/question/16242041
Answer:
No option is correct. The options include inventory, while the question does not mention any inventory distributed.
Tyson's basis on the land is $4,000.
Explanation:
Tyson's basis on the land = total distribution - cash distribution = $20,000 - $16,000 = $4,000
A partner only needs to recognize a gain on a distribution when the cash distribution is larger than the partner's basis. In this case, the partner's basis is more than the cash distribution. The partner's basis for the rest of the assets distributed will be equal to the difference between the partner's basis - cash received.
In this case, since the difference is $4,000, then the basis for the land will be reduced.
