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Amanda [17]
3 years ago
6

This year, Major Healy paid $40,000 of interest on a mortgage on his home (he borrowed $800,000 to buy the residence in 2015; $9

00,000 original purchase price and value at purchase), $6,000 of interest on a $120,000 home equity loan on his home (loan proceeds were used to buy antique cars), and $10,000 of interest on a mortgage on his vacation home (borrowed $200,000 to purchase the home in 2010; home purchased for $500,000). Major Healy’s AGI is $220,000. How much interest expense can Major Healy deduct as an itemized deduction?
Business
1 answer:
icang [17]3 years ago
5 0

Answer:

$50,000

Explanation:

The computation of the interest expense for deduction is shown below:

= Interest on a mortgage on his home + Interest on a mortgage on his vacation home  

= $40,000 + $10,000

= $50,000

All other information which is given in the question is not relevant for the computation part. Hence, ignored it  

We simply add both types of interest related to a mortgage on the home

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Consider the following data for a particular country.
Effectus [21]

Answer:

Real GDP is inflation adjusted hence there will be no role of inflation. Real GDP per Capita = Real GDP/ Population

Real GDP in year 1 = Real GDP per capita * population

Real GDP in year 1 = $36,000 * 500 million

Real GDP in year 1 = $18 trillion

Growth rate of Real GDP = 7%

herefore Real GDP in year 2 = x - 18/18 = 7/100

Real GDP in year 2 => 100x - 1800 = 126

Real GDP in year 2 => 100x = 126 + 1800

Real GDP in year 2 => 100x = 1926

Real GDP in year 2 => x = 19.26 trillion

So, Real GDP per capita in year 2 = 19.26 trillion /500 million= 38,520

7 0
3 years ago
A small business owner is skeptical about online transactions. They are worried that information may be stolen in transmission o
Pie

Answer:

Using Encryption and also digital certificate technologies

Explanation:

Encryption and digital certificate technologies could be used. The data can be encrypted before transmission. Only the intended recipient of the transmission will be able to decrypt and use it. In addition, digital certification service can also be used to ensure the authenticity of the other party. The standards for processing financial transactions quite strict enough to ensure safeguarding the interests of the card issuer, the cardholder and the merchant.

5 0
3 years ago
Gina and Celine want to start a business together in the women's apparel and accessories industry. While Gina thinks that they s
Airida [17]

Answer:

The correct answer is letter "C": They can effectively leverage the national and local advertising programs sponsored by the franchiser.

Explanation:

A franchise is a business, in which a franchisee acquires access to the franchisor's proprietary knowledge, processes, and trademarks. The franchisee buys the right under an established brand name to sell a product or service. Consumers already know the brand, so no additional resources must be used to launch the product.

Thus, <em>Celine is correct by arguing that by franchising Nava, Gina and her can take advantage of the domestic and international advertising programs of the firm.</em>

4 0
3 years ago
"Quail Co. can further process Product B to produce Product C. Product B is currently selling for $60 per pound and costs $42 pe
Lapatulllka [165]

Answer:

$22 per pound

Explanation:

The computation of the differential revenue of producing and selling Product C is shown below:

= Sale value per pound of product C - Sale value per pound of product B

= $82 per pound - $60 per pound

= $22 per pound

By subtracting the Sale value per pound of product B from the Sale value per pound of product C we can get the differential revenue and the same is shown above

6 0
3 years ago
Foreign managers trained in the latest management techniques can often help to improve the efficiency of operations in the host
dezoksy [38]

Answer: Resource Transfer Effects.

Explanation:

These foreign managers are trained with well equipped management techniques whether those techniques are acquired or greenfield developments. These foreign managers bring with them these resources and transfer them within the host country. This Foreign direct investments falls into the category of Resource Transfer Effects.

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3 years ago
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