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NARA [144]
3 years ago
6

If the first $20,000 of your income (or any portion thereof) is taxed at 10%, and the next $30,000 of your income (or any portio

n thereof) is taxed at 20%, and any income you make above that is taxed at a 30% rate, then a person who earned an income of $500,000 will pay the following amount in taxes:A. $156,000B. $100,000C. $143,000D. $150,000
Business
1 answer:
Black_prince [1.1K]3 years ago
6 0

Answer:

Total tax paid will be $143000

So option (B) will be correct answer

Explanation:

We have given total income = $500000

It is given that on first $20000 tax rate is 10%

So tax paid on $20000 = $20000×0.1 = $2000

And on next $30000 tax rate is 20%

So tax om $30000 = 0.2×$30000 = $6000

Now it is given that after that tax is 30%

So amount left = $500000 - $50000 = $450000

So tax on this amount = $450000×0.03 = $135000

So total tax = $135000+$6000+$2000 = $143000

So option (C) will be the correct answer

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In early year 8, Alice sold Tom, her son, 20 shares of common stock for $20,000. Alice had paid $25,000 for the stock in year 2.
Tema [17]

Answer:

He must report 15,000 gain in his year 8 tax...........

4 0
3 years ago
Laura borrowed $48,000 at a 6% interest rate for 7 years. what was the total interest?
Mrrafil [7]
Principal Amount P = $ 48000 
Rate of interest r = 6% = 0.06 
Time interval t = 7 
Formula for Interest I = P x r x t => I = 48000 x 0.06 x 7 => I = 2880 x 7 
Total Interest for seven years would be $20,160
7 0
3 years ago
Describe how organizational culture is related to project management. What type of culture promotes a strong project environment
alukav5142 [94]

Explanation:

Every company regardless of its size or area of ​​activity has an organizational culture, formally instituted or not.

Organizational culture can be defined as the company's identity, it is a system of values, procedures and behaviors that are shared by all members of an organization. A culture can be rigid or flexible, innovative or conservative, strong or weak, hostile or supportive.

Therefore, the relationship that the organizational culture has with the project management area is the impact on the behavior and form of action of the project members, the culture has a relevant impact on the identity of the professional.

The ideal type of culture to promote a strong project environment is a culture focused on innovation and the guidance and coordination of staff, with an emphasis on the group, so that there is integration, motivation and a favorable climate.

3 0
3 years ago
Suppose you bought a house for $3,250,000 to make it a nursing home in the future. But you have not committed to the project and
Anna71 [15]

Answer:

$3,716,050

Explanation:

FV = PV × (1 + i)∧n

Present Value (PV) 3250000  

Interest Rate (i) 0.015  

Number of years (n) 9

   (1 + 0.015) ∧ 9

        3,250,000 x 1.1434

       =$3,716,050

5 0
3 years ago
Crystal Industries is considering an expansion project with cash flows of -$287,500, $107,500, $196,100, $104,500, and-$92,700 f
GaryK [48]

Answer:

E. Yes: The MIRR is 9.13 percent.

Explanation:

<em>The First Step is to Calculate the Terminal Value at end of year 4.  </em>

Terminal Value (FV) = Sum of (PV x (1 + r) ^ 5 - n)

                                 = $107,500 x (1.134) ^ 3 + $196,100 x (1.134) ^ 2 + $104,500 x (1.134) ^ 1 + -$92,700 x (1.134) ^ 0  

                                 = $156,764.47 + $252,175,97 + $118,503 - $92,700  

                                 = $434,743.44

<em>The Next Step is to Calculate the MIRR using a Financial Calculator : </em>

- $287,500 CFj

0           CFj

0          CFj

0            CFj

$434,743.44   CFj

Shift IRR/Yr 9.13%

Therefore, the MIRR is 9.13% .

4 0
3 years ago
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