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Ilia_Sergeevich [38]
3 years ago
12

A life insurance policy that fails the 7-pay test is considered by the irs to be a modified endowment contract. this type of pol

icy will
Business
2 answers:
alukav5142 [94]3 years ago
6 0

<span>This type of policy will change living benefits to taxable as ordinary income, in contrast to non-taxable living benefits that are found in life insurance.

A modified endowment contract</span> (MEC) refers to a tax requirement of a life insurance policy where the policy has been financed with more money than the money which is accepted under federal laws.

Vlada [557]3 years ago
6 0
<span>A Modified endowment contract, MEC, allows individuals to put large sums of money into a cash value policy which allows the cash to grow under a tax deferment until the insured person dies, then the death benefit will be paid with no income taxes.</span>
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The 20% off sale is a better deal than the $200 rebate or $150 coupon for the $1,500 dining set. The Porters budgeted $1,250 for
vovikov84 [41]

Answer:20% off is better and it is the only offer which is under the budget.

Explanation:Given,

The original cost of the dining set = $ 1,500,

If there is a off of 20%,

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= $ 300

So, the final amount of the dinning table after 20% off = 1500 - 300 = 1200 < 1250

Thus, it under the budget.

Now, in $ 200 rebate,

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Thus, it is not under budget.

While, In $150 coupon,

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Thus, it is not under budget.

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Publix has 2,700 pounds of bananas with a total cost of $864. Because the bananas have become too ripe, Publix is contemplating
tamaranim1 [39]

Answer: an increment in profit $1615

Explanation:

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= $4480 - $2565 + $300

= $4480 - $2865

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If he had sold the bananas

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By converting the bananas to bread the incremental effect on income is it would yield more profits at $1615 compared to when sold at which is $621

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3 years ago
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To limit the potential for war and other armed conflict, efforts by international bodies must be increased, particularly at United Nations well-known organization.

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