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kvv77 [185]
3 years ago
13

On April 3rd, Terry purchased and placed in service a building. The building cost $2 million. An appraisal determined that 25% o

f the total cost was attributed to the value of the land. The bottom floor of the building is leased to a retail business for $32,000. The other floors of the building are rental apartments with an annual rent of $160,000. Determine Terry's cost recovery deduction for 2014.
Business
1 answer:
Naily [24]3 years ago
5 0

Answer:

$38,640

Explanation:

25% land - $2,000,000*0.25 = $500,000

75% building - $2,000,000*0.75 = $1,500,000

$160,000 buildings and $32,000 business = residential property

=$1,500,000*0.02576

= $38,640

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It will increase by 50%

Explanation:

Equity is given as: credit - short market value.

Find attached below table of solution

4 0
4 years ago
3) Two countries, the US and England, produce only one good, wheat. Suppose the price of wheat is $3.25 per pound in the US, and
Tcecarenko [31]

Answer:

$2.4074/pound

Explanation:

The law of one price states that the same good in two different countries must be sold for the same amount of money, which means that the $/pound spot rate must ensure that wheat costs the same on both countries.

Therefore, the spot rate 'r' is:

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8 0
3 years ago
A pharmacist stocks only one particular brand of acetaminophen, a popular pain-relief drug. Even if his customers prefer other p
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Answer:

d. right to choose

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5 0
3 years ago
Under Title VII, employers who have had an incident of sexual harassment reported to them:
omeli [17]

Answer:

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B) can be held liable in tort for their inaction.

Explanation:

Title VII of the Civil Rights Act of 1964 prohibits discrimination in any aspect of employment, e.g. race, color, gender, religion, etc.

Title VII states that sexual harassment is a form of discrimination.

Sexual harassment happens when, including but not limited to the following:

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7 0
4 years ago
Suppose the consumer price index for one year was 120 and for the next year it was 132. what is the corresponding inflation rate
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The corresponding inflation rate is 10%
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4 years ago
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