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tiny-mole [99]
3 years ago
8

The yield on a taxable money market mutual fund earning 3.0 percent is equivalent to a ____ percent yield on a tax-exempt money

market fund for a taxpayer in the 28 percent marginal tax bracket.
Business
1 answer:
Nezavi [6.7K]3 years ago
7 0
<span>In order to calculate the yield after taxes to compare it to a tax-exempt money market fund we will need to subtract the taxes from the yield. The yield is 0.03 and taxes on that are 0.28. If you multiply those two you get 0.0084. If you subtract this from 0.03 you get 0.0216 which is equal to 2.16%.</span>
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Answer:

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Gross Profit = Sales Revenue - Cost of Goods Sold

                    = $54,200 - 15,100

                    = $39,100

What is the amount of operating income (EBIT) to be reported on ABC Company’s 12/31/X1 income statement?

EBIT = Sales Revenue - Cost of Goods Sold - Operating Expenses

We have the following operating expenses:

Salaries expense $7,100

Rent expense = $4,900

Supplies expense = $1,300

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Total operating expenses = $20,600

Now we substract this figure from the gross profit we found above

EBIT = $39,100 - 20,600

        = $18,500

What is the amount of earnings before taxes (EBT) to be reported on ABC Company’s 12/31/X1 income statement?

EBT = Sales Revenues + Interest Revenue - Cost of Goods Sold - Operating Expenses - Non-Operating Expenses.

EBT = $54,200 + $1,400 - $15,100 - $20,600 - $2,100

      = $17,800

What is the amount of net income to be reported on ABC Company’s 12/31/X1 income statement?

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5 0
3 years ago
PLEASE HELP ASAP!!!! CORRECT ANSWERS ONLY PLEASE!!!!
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Omg! Do you do k12? Me too!
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fomenos
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7 0
3 years ago
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A salt mine you inherited will pay you 25,000 per year for 25 years, with the first payment being made todayIf you think retum t
Lina20 [59]

Answer:

b. $299,574

Explanation:

For calculating the ask price, we first need to compute the present value which is attached in the spreadsheet.

In this question, we use the present value formula which is shown in the spreadsheet.  

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Given that,  

Future value = $0

Rate of interest = 7.5%

NPER = 25 years  - 1 years = 24 years

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The formula is shown below:

= -PV(Rate;NPER;PMT;FV;type)

So, after solving this, the present value is $278,673.65

Now the ask price is

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6 0
3 years ago
Karma Company has prepared its operating budget for the first quarter of 20x9. The company forecasts sales of $50,000 in Februar
Shtirlitz [24]

Answer:

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Explanation:

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Sales in April,

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Now,

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=  20000+2500+8000+5000+1200+800+1000

=  38,500

4 0
3 years ago
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