An elected official is a person who is an official by virtue of an election
Answer:
The amount of the taxable gifts made by Samantha this year is 3,000
Explanation:
Because Samantha gave 16,000 dollars in total while the tax exemption is 15,000 per person.
So the tax gift is triggered
The taxable gifts are 1,000 per nephews. For a total of 3,000
Answer:
Grower Mart
Explanation:
("FOB shipping point" or "FOB origin")is a term that stands for from the point of origin. This means that the buyer incur any risk and takes delivery of the goods once the seller ships the goods. The supplier records it as a sale at the point of departure from its shipping dock. meaning that the purchaser pays the shipping cost from the factory or warehouse and gains ownership of the goods as soon as it leaves its point of origin.
When the term "F.O.B. Hilltop Farms" it means it is from the point of origin
Answer:
The new price of the bond is $928.94
Explanation:
Initially the bond's price is equal to its par value which means the coupon rate on bond and the market interest rates are the same i.e. 6%.
Th bond's price is calculated as the sum of the present value of the annuity of interest payments by the bond and the present value of the face value of the bond that will be received at maturity. The discount rate used to calculate the present values is the market interest rate.
As the bond is a semiannual bond, we will use the semi annual coupon payment, the semi annual percentage of the annual rate of interest on market and the number of semi annual periods outstanding.
Semi annual coupon payment = 1000 * 0.06 * 6/12 = $30
Number of semiannual periods till maturity = 10 * 2 = 20 periods
New market interest rate = 6 + 1 = 7% annual
New semi annual market interest rate = 7% / 2 = 3.5%
Price of bond = 30 * [ (1 - (1+0.035)^-20) / 0.035 ] + 1000 / (1+0.035)^20
Price of bond = $928.938 rounded off to $928.94
We used the present value of annuity ordinary formula for preset value of interest payments and the normal present value of principal formula for the face value.
