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Alla [95]
3 years ago
6

Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003, an auction

house sold a sculpture at auction for a price of $10,331,500. Unfortunately for the previous owner, he had purchased it in 2000 at a price of $12,417,500.
What was his annual rate of return on this sculpture? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Business
1 answer:
Leviafan [203]3 years ago
8 0

Answer:

-5.95%

Explanation:

A = P(1+r)^n

A is the auction price at which the sculpture was sold = $10,331,500

P is the price the sculpture was purchased = $12,417,500

n is the time interval between the year of sales and year of purchase

10,331,500 = 12,417,500(1+r)^3

(1+r)^3 = 10,331,500/12,417,500

(1+r)^3 = 0.832

1+r = (0.832)^1/3

1+r = 0.9405

r = 0.9405 - 1 = -0.0595 = -5.95%

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Answer:

a. The clothing must not be suitable for everyday use and must be required as a condition of the job.

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3 years ago
Businesses commonly rely upon groups to make decisions because of the many advantages to group decision making. Which of the fol
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Answer:

Almost every other business in this universe now relies upon group thinking rather than individual approach to anything.

It has several advantages, some of them are pointed out below:

o) Equality bias, when there are group discussion, this means that everyone has a part of say in the final decision and that leads to equality bias, which is beneficial.

o) More alternatives are generated, it is a fact that when an individual takes a decision, he/she is neglecting a lot of other options to explore which could be a lot beneficial for the business.

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3 0
3 years ago
Cool Beans is a locally owned coffeeshop that competes with two large coffee chains, PlanetEuro and Frothies. Alicia, the owner,
erma4kov [3.2K]

Answer:

0.9717 per unit sold (approx)

Explanation:

Here, we are assuming 52 weeks in a year.

Contribution margin:

= (Sales revenue - variable cost) ÷ sales revenue

= [(3.52 × 10 + 3.52 × 0.18 × 540 × 52) - (3.52 × 0.26 × 551)] ÷ (3.52 × 10 + 3.52 × 0.18 × 540 × 52)

=  [(35.2 + 17,791) - (504)] ÷ (35.2 + 17,791)

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3 years ago
Evaluate various ethical issues walmart has faced and how the company respond to stakeholders
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Hepner Corporation has the following stockholders' equity accounts:
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Answer:

$235,000

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Preferred stock $630,000  

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Non controlling interest in preferred stock $270,000  

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Goodwill                        $235,000

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