Answer: $1091.61
Explanation:
From the question, we are told that fifteen years ago, Mr. Fairhold paid $50,000 for a single-premium annuity contract and that this year, he began receiving a $1,300 monthly payment that will continue for his life and based on his age, he can expect to receive $312,000. The amount of each monthly payment is taxable income to Mr. Fairhold goes thus:
Based on the question, Mr Fairhold will have a tax free return of the $50,000 paid. The exclusion ratio will be the investment divided by the expected return. This will be:
= $50,000/$312,000
= 0.1603
Since he received monthly payment of $1,300 and exclusion ratio is 0.1603, the tax free return on investment will be:
= $1,300 × 0.1603
= $208.39
Taxable annuity payment will now be:
= $1300 - $208.39
= $1091.61
The answer is the total value of all goods and services produced in a country in a given year. I hope that helps!
Answer:
a. an invitation to submit offers, not an offer itself.
Explanation:
When a property is to be sold at an auction it involves an invitation for interested buyers to submit offers to the seller. The seller will now consider the offers and see the best one for him.
There is usually no price stated for the auction and seller goes for the highest bid.
If however if the seller says that there is no reserve price or that the reserve price was met, it can now be considered an offer in itself.
In this case Owen is offering the property at a live auction and does not state requirements for a reserve price
Answer:
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