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lapo4ka [179]
3 years ago
5

Mark goes to Tony's Lumber Yard to buy some lumber to build a new roof for his cabin. Mark tells Tony, the lumber yard owner, to

provide him an exact type of wood that can resist the wood decay caused due to the damp environment around the cabin. Mark buys the lumber after Tony assures him that the wood is exactly what Mark is looking for. But the dampness affects the wood and it caves in. What warranty has Tony explicitly breached by not providing Mark the lumber he needed?
Business
1 answer:
musickatia [10]3 years ago
5 0

Answer: Tony has explicitly breached the Implied Warranty of Fitness for a particular purpose.

Explanation: the Implied warranty of fitness for a particular purpose takes effect when a buyer specifically asks a seller for a product that can be used for a particular purpose.

Because Mark (buyer) requested for the exact type of wood that can resist wood decay caused due to the damp environment of his cabin and Tony (seller) sells Mark lumber while assuring him that it's what he is looking for. Tony's assurance to Mark is known as the Implied warranty of fitness for a particular purpose, and since the wood is affected by dampness and caves then Tony has explicitly breached the warranty.

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You have just turned 22 years old, and have accepted your first job. Now you will decide how much money to put into your retirem
gayaneshka [121]

Answer:

Annual deposit= $71,428.57 per year

Explanation:

Giving the following information:

You expect to live to 100 and work until you turn 65. You estimate that you will need $100,000 per year.

Every dollar in the plan earns 7% per year.

You have just turned 22 years old.

First, we need to calculate the amount of money necessary in retirement:

Final value= 100,000*35 years= 3,500,000

Now, using the following formula, we calculate the yearly deposit needed:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

n= 65-22= 43

FV= 3,500,000

i=0.07

A= (3,500,000*0.07)/[(1.07^22)-1]

A= 245,000/3.43

A= 71,428.57 per year

4 0
3 years ago
If a stock's market price is above its intrinsic value, then the stock can be thought of as being undervalued, and it would be a
KatRina [158]
I think the answer is false, if it’s not I’m so sorry
4 0
3 years ago
Suppose the following information is available for Callaway Golf Company for the years 2017 and 2016. (Dollars are in thousands,
blondinia [14]

Answer: (a) Earning per share in 2016: 0.85

(b) Earning per share in 2017: 1.4

Explanation:

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Net income (loss) = $61,030,000

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Ending shares = 69,200,000

Average no. of shares O/S = \frac{74,400,000+69,200,000}{2}

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Earning per share =  \frac{Net\ Income}{Average\ no.\ of\ shares\ o/s}

                              =  \frac{61,030,000}{71,800,000}

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Earning per share in 2017:

Net income (loss) = $91,420,000

Opening shares = 69,200,000

Ending shares = 61,400,000

Average no. of shares O/S = \frac{69,200,000+61,400,000}{2}

                                     = 65,300,000

Earning per share =  \frac{Net\ Income}{Average\ no.\ of\ shares\ o/s}

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4 0
4 years ago
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Answer:

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6 0
4 years ago
Read 2 more answers
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Scorpion4ik [409]
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Does that make sense?
5 0
4 years ago
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