JILL IS THE PLAINTIFF.
The plaintiff is the person who take a case to court while the defendant is the person who is accused of an offence.
In the question given here, Jill initiates a suit against Jack, so Jill is the plaintiff while Jack against whom the case is initiated is the defendant.
you'll get hit with a failure-to-file penalty, which starts at 5% of however much you owe, maxing out at 25% of your tax bill. If you wait more than 60 days to file, you're charged a $135 fee or 100% of the taxes you owe (whichever is less).
Answer:
$2,500
Explanation:
since Sherry will receive at least $10,000 or 25% of the partnership's net income, then the guaranteed payment = $10,000 - ($30,000 x 25%) = $10,000 - $7,500 = $2,500
When partnerships include guaranteed minimum payments, he/she will receive that amount even if the partnership's net income is not high enough. If the partnership's net income would have been $40,000 or more, then there would be no guaranteed payment (= $40,000 x 25% = $10,000).
Answer:
$307,382.82
Explanation:
current age = 65 years
Requires $20,000 at the beginning of the year for the next 35 years.
interest rate = 6%
So, initial investment = PV of all the inflows
= $20,000+ 20,000×PV×( 6%, 35% years)
=$20,000+ 20,000×14.3681
= $20,000+ 287,362.82= $307,382.82
So, he must invest $307,382.82 to get $20,000 every year.
