Answer:
The difference in tax to be paid between the two methods is $455
Explanation:
In this question, we are asked to calculate the difference in tax for the LIFO and FIFO method.
The matter of importance here is that the tax rate is 35%. We proceed as follows:
For the FIFO income, the tax rate is 35% of 8,600 = 35/100 * 8600 = $3010
For the LIFO method, the tax rate is 35% of $7,300 = 35/100 * 7,300 = $2,555
The difference in tax that would be paid between the two methods is 3010-2555 = $455
Answer:
0.95
Explanation:
Given that,
Market demand for wheat: Q = 100 − 2p + 1pb + 2Y
price of wheat, p = $2
price of barley, pb = $3
Income, Y = $1000
Q = 100 − 2p + 1pb + 2Y
= 100 - (2 × 2) + (1 × 3) + (2 × 1,000)
= 100 - 4 + 3 + 2,000
= 2,099
Differentiating Q with respect to Y,
dQ/dY = 2
Income elasticity of wheat:
= (dQ/dY) × (Y ÷ Q)
= 2 × (1,000 ÷ 2,099)
= 0.95
Answer:
1. False
2. Shortage; Larger
Explanation:
1. A binding price ceiling is one that prevents the market from reaching its equilibrium. In this market, the equilibrium price is $25 therefore anything below $25 will be binding. A price ceiling below $25 per box is a binding ceiling.
2<em>. Assuming that the long-run demand for oranges is the same as the short-run demand, you would expect a binding price ceiling to result in a </em><em><u>shortage</u></em><em> that is </em><em><u>larger</u></em><em> in the long run than in the short run.</em>
In the long run, supply is more sensitive because farmers can decide to plant oranges on their land, to plant something else, or to sell their land altogether.
This means that a price ceiling in the long run will be less attractive to farmers so they might leave the market. If they do this then the shortage will be more as there are now less supplies in the market.
that means simply your a business man seller
The balance in the savings account at the end of the 8th year (i.e., after 8 deposits) is $99,256, and the interest earned on the 8 deposits is $27,256
The future value of annuity is a calculation that measures how a good deal a chain of fixed bills might be really worth at a specific date in the future whilst paired with a particular interest price. The word “value” in this term is the coin's potential that a sequence of future payments can gain.
The equation to find future value of the annuity:
Future Value = E ( ( 1 + r)^p - 1 ) / r
E = Annual deposit = $9,000
r = Interest rate = 9%
P = 8 years
FV = Amount available = 9,000 ( 1.09^8 - 1 ) / .09 = $99,256
Interest = 99,256 - 9000 * 8 = $27,256
Future value is the value of a current asset at a future date based on an assumed fee of growth. The future price is vital to investors and economic planners, as they use it to estimate how an awful lot of funding made today may be worth it in the future.
Learn more about the future value of annuity here brainly.com/question/14702616
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