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Volgvan
3 years ago
6

Cindy's current year adjusted gross income (AGI) is $300,000 and her current year total tax liability is $60,000. Her immediate

prior year AGI is $200,000 with a total tax liability of $40,000. To avoid an underpayment interest penalty, what is Cindy's minimum required total tax payment amount for the current year
Business
1 answer:
Crazy boy [7]3 years ago
5 0

Answer:

The answer is $44,000

Explanation:

Solution

Given that

Now

Present/current year AGI = $300000

Present /current year tax liability = $60000

Prior year AGI = $200000

Prior year tax liability = $40000

Thus

As per Tax rule or applying the Tax rule

If Adjusted gross income(AGI) of prior year is below $250000 then the minimum required tax payment in the current year in order to avoid interest penalty is lower of

(1) 90% of present /current year tax (liability) or

(2) 110% of prior year tax liability

So

Because the prior year AGI is $200000 which is lower than $250000, in order to avoid interest penalty, the minimum required payment amount of tax liability in current/present year is lower of

(1) 90% of current year tax liability of $60000

Then

$60000 *90% = $54000

Or

(2)110% of prior year tax liability of $40000

$40000 ×110% = $44000

Hence, minimum required total tax payment amount for the current year is $44,000

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Elanso [62]

Based on Machine technology fundamentals, the programs that carry out repetitive tasks and can be programmed to make decisions based on specified conditions are "<u>Intelligent agents</u>."

This is because Intelligent Agents is designed to carry out certain functions according to its environment, user input, and experiences.

<u>Intelligent agents</u> is designed with the capability to carry out or gather information on their own.

It can also be programmed to work at a specific time or when the user asks in real-time.

There are various types of Intelligent Agents. Some of these intelligent agents include the following:

  • Simple Reflex Agents;
  • Model-Based Reflex Agents;
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Hence, in this case, it is concluded that the correct answer is Intelligent Agents.

Learn more here: brainly.com/question/24180103

8 0
2 years ago
Rudy bought 10 shares of fat cat, inc. stock on january 1,2017. rudy paid $20 for each share. at first, it appeared that rudy ha
stiv31 [10]

He would would have a short term capital loss of $200 (10 shares at $20 each)

Short term losses are considered losses on assets that have been held for less than 1 year.

6 0
2 years ago
Dave mentions that insurance is the defense for managing your money. Why is this true?.
777dan777 [17]

Insurance is a method of defense when it comes to managing your money according to Dave because it prevents you from incurring more debt.

<h3>How does insurance defend your money?</h3>

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Insurance is therefore a defense for managing your money because it saves you from having to incur debt when you pass through a dangerous situation because the insurance will pay out instead of you having to borrow.

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8 0
2 years ago
Harry Corporation's common stock currently sells for $180 per share. Harry just paid a dividend of $10.18 and dividends are expe
Anastasy [175]

Answer:

$190.64

Explanation:

Data provided in the question:

Current selling price of shares = $180 per share

Dividend paid = $10.18

Expected growth rate, g = 6% = 0.06

Required rate of return, r = 12% = 0.12

Now,

The dividend for the following year to the next year, D1 = $10.18 × (1 + g)ⁿ

here, n = 2 ( i.e the duration of next year and the following year )

thus,

D1 = $10.18 × (1 + 0.06)²

or

D1 = $11.438

Therefore,

Price of stock one year from now = \frac{\textup{D1}}{\textup{(r-g)}}

= \frac{\textup{11.438}}{\textup{0.12-0.06}}

= 190.637 ≈ $190.64

7 0
3 years ago
Suppose a Lexus LS400 and a Mercedes C300 are considered to be of equivalent value. The Lexus sells for 6,000,000 Japanese yen i
yarga [219]

Answer:

1 EUR = 120 JPY

Explanation:

As the purchasing power parity theory, the exchange rate of currency 1 to currency 2  = Cost of good  in currency 1 / cost of same valued item  in currency 2

In this case,  a Lexus LS400 and a Mercedes C300 are considered to be of equivalent value, then the exchange rate between the yen and the euro

= price of Lexus in Tokyo/ price of Mercedes  in Stuttgart

= 6,000,000 JPY/ 50,000 EUR

= 120 JPY/EUR

3 0
3 years ago
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