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Ymorist [56]
3 years ago
9

Bill, age 65 has 2020 unreimbursed medical expenses totalling $20,000 and an adjusted gross income of $170,000. How much of thos

e medical expenses can he deduct?
Business
1 answer:
svp [43]3 years ago
7 0

Answer:

$7,250

Explanation:

You can deduct medical expenses <u>that exceed</u> 7.5% of your AGI (changes, but is currently at this level).

170,000 x .075 = 12,750

20,000 - 12,750 = $7,250

I hope this helps!

-TheBusinessMan

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Suppose that a university decides to spend $1 million to upgrade personal computers and scientific equipment for faculty rather
Vladimir [108]

Answer:

<u>Opportunity cost </u>

Explanation:

Suppose that a university decides to spend $ 1 milion to upgrade personal computers and scientific equipment for faculty rather than spend $  million to expand parking for students . This example illustrates<em><u> opportunity costs.</u></em>

<em>Opportunity cost refers to the cost shifting one opportunity to another opportunity or availing one opportunity in terms of another.</em>  

Formula of Opportunity cost is :

<u>Opportunity cost</u>    =  Total Revenue - Economic Profit

                                    Or

<u>Opportunity cost </u>  = What one sacrifice / What one gain

In Opportunity cost we chose one thing or option over the cost of another thing or option. Opportunity cost places a important role in economic theory .

As it tell us that people can choose only one thing not the both things at the sane time.

3 0
3 years ago
Assume that you would like to purchase 100 shares of preferred stock that pays an annual dividend of $6.00 per share. However, y
butalik [34]

Answer:

$267.1211

Explanation:

return on preference share per unit is $6  , thus at 12% annual rate of return. Initial value of preference shares will be $50 per unit ( $6 divided by 12%).

Total value of preference shares = $50 multiplied by 100 preference shares = $5000

Future value of preference shares = 5000 (1.12)^5  = $8,811.7084

to find the value of money to be deposited to be able to buy the preference shares at the end of 5 yrs.

we work back to get the present value using the mutual fund annual rate

$8811.7084 = pv (1.06)^60  the rate is compounded monthly. Hence we shall compound the return 60 times in 5 years

Bank account money = 8811.7084  divided by 32.9877 = $267.1211

5 0
3 years ago
You purchased 1,350 shares of Barrett Golf Corp. stock at a price of $36.23 per share. While you owned the stock, you received d
enot [183]

Answer:

$6210.00

Explanation:

The computation of total dollar return on the investment is shown below:-

Total Return on Shares = (Dividend + (Sale price - Purchase price)) × Number of Shares

=  ($0.65 + $40.18 - $36.23) × 1,350

= $4.6 × 1,350

= $6210.00

Therefore for computing the total return on shares we simply applied the above formula.

4 0
3 years ago
Evelyn, who owns and operates Eve's Farm &amp; Garden Company, agrees to sell Hill &amp; Dale Produce, Inc., fifty bushels of ap
IrinaK [193]

Answer:

The answer is: A) breached

Explanation:

Evelyn breached her contract with Hill & Dale because she failed to perform her duties. In order for the contract to end, both parties must fulfill their duties or both parties must agree to cancel the contract. Any party involved in a contract can sue for damages, so Hill & Dale are entitled to sue Evelyn for compensatory damages.

5 0
2 years ago
Which sentence best demonstrates an appropriate style for an argumentative essay? anyone who believes we should increase taxes i
oee [108]

I believe the answer is: Increasing taxes would place an unnecessary hardship on the citizens and should be avoided

Argumentative essay refers to a type of essay that is created in order to convince other people to adopt a certain idea or opinion. Appropriate style for an argumentative essay usually include clear correlation on how a certain action or choice would resulted in a certain situation/results , just like the sentence above.

4 0
3 years ago
Read 2 more answers
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