If Morris leaves his backup at nuway launderers when he stops to pick up his clothes then the backup is a mislaid property.
Given that Morris leaves his backup at nuway launderers when he stops to pick up his clothes.
We are required to find what backup is.
The backup is basically a mislaid property.
Mislaid property is basically any belonging of a person that was purposefully set around its proprietor and after that they forgot about that. There is a difference between lost property and mislaid property, for instance, a wallet that drops out of somebody's pocket is lost but a wallet incidentally left on a table in an eatery is mislaid.
Hence if Morris leaves his backup at nuway launderers when he stops to pick up his clothes then the backup is a mislaid property.
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Under these conditions an efficient solution can be reached regardless of the initial assignment of property rights.
Answer:
$152.4 million
Explanation:
The computation of the projected net income is shown below:
As we know that
Net income = (EBIT - interest) × (1 - tax rate)
where,
EBIT = Sales - operating cost
= $700 × 120% - ($700 × 120% × 65%)
= $840 - ($840 × 65%)
= $840 - $546
= $294
The interest expense and tax rate is $40 and 40%
So, the projected net income is
= ($294 - $40) × (1 - 40%)
= $152.4 million
We simply applied the above formula so that the projected net income could be come
Because casual is an objective term and what constitutes "casual" attire may drastically differ by company
