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qaws [65]
3 years ago
6

The Lin household’s annual income is $188000. Based on the U.S. federal tax rates below, what is the average tax rate for the Li

n household? (Assume zero tax deductions for solving this problem.)
A. 45%
B. 24.41%
C. 22.22%
D. 33%
Business
1 answer:
Sedaia [141]3 years ago
6 0

Answer:

24%

Explanation:

For the taxes due on April 2020 (current year taxes):

The Lin household falls under the fourth tax bracket for married individuals filing jointly:

  • tax rate 24%
  • Income between $171,051 to $326,600

If no deductions were available, they would owe $188,000 x 24% = $45,120 in taxes.

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Universal Travel, Inc. borrowed $500,000 on November 1, 2021, and signed a twelve-month note bearing interest at 6%. Principal a
Marrrta [24]

Answer:

The interest payable on the loan is $5,000,option C

Explanation:

The interest is the cost incurred by the company for borrowing the $500,000 since no one is willing to part with their cash in loan agreement except that they have something in return.

The company has taken custody amount for 2 months (from November 1 2021 to 31 December 2021),hence it should recognized an interest payable for 2 months,which is computed thus:

interest payable=$500,000*6%*2/12=$5,000

7 0
3 years ago
An oral auction has bidders willing to pay $4, $6, $9, $12, $13, and $15 for an item. The winning bidder will pay a little more
Fiesta28 [93]

Answer: $13.25

Explanation:

From the question, we are informed that an oral auction has bidders willing to pay $4, $6, $9, $12, $13, and $15 for an item.

Based on the above scenario, the winning bidder will pay a little more than $13 or $13.25. This is because the bidder with the highest pay is willing to pay $15 but since the next person is willing to pay $13, that means the next bidder will price it at an amount that is a little bit above $13 which is $13.25.

5 0
4 years ago
A negative externality is
Rus_ich [418]

Answer: The correct answer is "4. when a third party is injured by an economic activity".

Explanation: A negative externality is when a third party is injured by an economic activity.

Negative externality refers to all kinds of harmful effects on society, generated by production or consumption activities, which are not present in its costs. Negative externalities occur when the action taken in our activities as a company, individual or family causes harmful side effects to third parties. Such effects are not incorporated in all costs. Since the highlighted negative effects are not present in the price of production or of the profit when consuming.

3 0
3 years ago
Which formula is correct formatting for a nested function?
erastova [34]

Answer:

=IF(AND(B2>3000,02>2000),"Bonus","No Bonus")

Explanation:

A nested If statement is used when 1 or more conditions are to be tested. The result of the nested function depends based on the true value of the function.

i.e. If the nested statement is true, certain operations are to be done otherwise, do something else. In other words, the IF function allows you to make a logical comparison between a value and what you expect by testing for a condition and returning a result if True or False.

The syntax of a nested function goes thus

IF( condition1, value_if_true1, IF( condition2, value_if_true2, value_if_false2 ))

This would be equivalent to the following in Excel

= IF(condition1,"value_if_true",value_if_false)

Base on the above explanation, only option B is right.

And what it does is that

it checks if cell B2 is greater than 3000 AND cell 02 is greater than 2000.

If both statement are true, "Bonus" will be the output result

If one ore both statement are false, "No Bonus" will be the output result

7 0
3 years ago
Controlling the money supply to achieve desired macroeconomic goals is called
Sergio [31]

Answer:

The answer is monetary policy

Explanation:

Monetary policy is an economic policy that manages the size and growth rate of the money supply in an economy. It is a powerful tool to regulate macroeconomic variables such as inflation, consumption, growth and liquidity.

3 0
3 years ago
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