Answer:
12%
Explanation:
Annual net income:
= Increase in annual revenue - Increase in annual costs
= $220,000 - $160,000
= $60,000
Average investment:
= (Initial investment + Salvage value at the end) ÷ 2
= (980,000 + 20,000) ÷ 2
= $500,000
Annual rate of return:
= (Annual net income ÷ Average investment) × 100
= ($60,000 ÷ $500,000) × 100
= 12%
Answer: Out of labor force
Explanation:
The above scenario shows that Dorothy is out of the labor force. The labor force is made up of those that are employed and have a job and those that are unemployed but are searching for job.
In this case, Dorothy left her job to cater for her child and is not looking for a job. This shows that she is out of the labor force.
Assuming that Greg is single, 25 years old, and will have a total tax liability of $1,355 (and thus will receive a $145 refund), he: is required to file a tax return.
<h3>
What is total tax liability?</h3>
- The total amount of tax debt owing by an individual, corporation, or other entity to a taxation authority such as the Internal Revenue Service is referred to as tax liability (IRS).
- Tax responsibilities include income taxes, sales taxes, and capital gains taxes.
- Your gross tax liability is equal to your taxable income minus your tax deductions.
- Your total income tax burden equals your gross tax liability less any tax credits you are qualified for.
- The key to lowering your tax liability is to reduce the percentage of your gross income that is subject to taxation.
- Consider raising your retirement savings.
- Investing pre-tax cash in an employer-sponsored retirement plan, such as a 401(k), is a simple way to lower your taxable income for the year.
Therefore, assuming that Greg is single, 25 years old, and will have a total tax liability of $1,355 (and thus will receive a $145 refund), he: is required to file a tax return.
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False, the reason the prices raise is because of high demand. If people want a product they will buy it at a higher price.