1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Neporo4naja [7]
3 years ago
8

"A property has been assessed at $40,000. The city tax rate is 10 mills, the county tax rate is 9 mills, and the school board le

vy is 8 mills. The owner has qualified for and received a homestead tax exemption. How much will the owner save from his county taxes as a result of the homestead tax exemption?"
Business
1 answer:
melamori03 [73]3 years ago
3 0

Answer:

Amount saved by the owner is $225.

Explanation:

given,

the property has been assessed = $40,000

the city tax rate = 10 mills = 0.001

country tax rate = 9 mills = 0.009

school board levy = 9 mills = 0.008

owner gets homestead tax exemption of = ?

Homestead tax exemption is used to same money from paying tax on their property every year.

homestead tax exemption given is  $25,000

Money saved by owner = $25,000 homestead exemption × county tax rate

                                       = $25000 × 0.009

                                       = $ 225

Amount saved by the owner is $225.

You might be interested in
What is the legal business name of a sole proprietorship
I am Lyosha [343]

Answer:

i dont know

Explanation:

4 0
2 years ago
An industrial oven and fryer is an example of which factor of production?
Ad libitum [116K]

Answer:

I believe this is C. capital

7 0
3 years ago
Read 2 more answers
Economies that arise from performing a value creation activity in the optimal place for that activity are referred to as: produc
Genrish500 [490]

Answer: location economies

Explanation:

location economies are economies which are birthed through performing a value creation activity in an optimal location for that activity wherever in the world it may be. It is used by firms to determine the competition in an environment when locating to do business

4 0
3 years ago
Classify each item as an asset, liability, common stock, revenue, or expense. (a) Issuance of ownership shares. select the corre
Roman55 [17]

Answer:

The classified list of items is as follows:

(a) Issuance of ownership shares - Common stock

(b) Land purchased - Asset

(c) Amounts owed to suppliers - Liability

(d) Bonds payable - Liability

(e) Amount earned from selling a product - Revenue

(f) Cost of advertising - Expense

Hence, all the items are classified as asset, liability, revenue, common stock and expense.

8 0
3 years ago
A project has been assigned a discount rate of 12 percent. If the project starts immediately, it will have an initial cost of $4
victus00 [196]

Answer:

The value of the option to wait is $0.70,option A.

Explanation:

In calculating the value of the option to wait,I discounted all cash flows under both alternatives, using the discount rate of 12% as given in the question.

Option to start now gives net present value(positive return ) of $360.64 while the other one gives $361.34,invariably option to wait one year gives $0.70($361.34-$360.64) more than the option to start now.

The formula used in the calculating present value is PV=FV(1+r)^n

Where PV=present value

FV=future value

r=rate of interest

n=number of year

Find attached spreadsheet for detailed calculations.

7 0
3 years ago
Other questions:
  • Identify whether or not each of the following scenarios describes a competitive market, along with the correct explanation of wh
    12·1 answer
  • The Arcadia Company has 200,000 shares of cumulative, seven percent, $200 par value preferred stock outstanding. Last year the c
    9·2 answers
  • Suppose on Friday night you have a choice to go either to a Katy Perry concert or a Lady Gaga concert. You won a free ticket to
    13·1 answer
  • What is another name for intermediaries? Name two types of intermediaries. Name five non-store retailing methods.
    6·1 answer
  • - On November 11th, Smaller Company sold merchandise with a selling price of $8,000 on account to Rogers Office Supplies, with t
    10·1 answer
  • On June ​1, 2018​, High Performance Cell Phones sold $ 25 comma 000 of merchandise to Ackerman Trucking Company on account. Acke
    5·1 answer
  • Madison Corporation sells three products (M, N, and O) in the following mix: 3:1:2. Unit price and cost data are: M N OUnit sale
    11·1 answer
  • So, if you find that revenue goes up when you use an elasticity of 2 to estimate the effect of changing the fee from $8 to $16,
    14·1 answer
  • Why is it important that the whole organization works toward the strategic plan? How do the departments affect each other in rea
    13·1 answer
  • Cameron is expected to produce 550 parts per day, but his machine is capable of only 480. He is also expected to supervise six w
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!