Answer: $2100
Explanation:
From the question, we are informed that Oakley Company does not ring up sales taxes separately on the cash register and that the total receipts for February amounted to $32,100 and the sales tax rate is 7%.
The amount that must be remitted to the state for February's sales taxes will be:
= $32,100/(1+7%) × 7%
= $32100/(1 + 0.07) × 0.07
= $32100/1.07 × 0.07
= $2100
Answer:
EAW = -$17,545.71
Explanation:
initial investment = $200,000
cash inflows;
- Year 1 = $33,000
- Year 2 = $44,000
- Year 3 = $55,000
- Year 4 = $66,000
- Year 5 = $77,000
- Year 6 = $88,000
- Year 7 = $99,000
- Year 8 = $110,000
- Year 9 = $132,000
cash outflows:
- Year 1 = $20,000
- Year 2 = $30,000
- Year 3 = $40,000
- Year 4 = $50,000
- Year 5 = $60,000
- Year 6 = $70,000
- Year 7 = $80,000
- Year 8 = $90,000
- Year 9 = $100,000
EAW = equivalent annual worth = equivalent annual benefits - equivalent annual costs
to determine the EAB we must first find the PV of the cash inflows using a financial calculator = $408,348.84
EAB = (PV x r) / [1 - (1 + r)⁻ⁿ] = ($408,348.84 x 10%) / [1 - (1 + 10%)⁻⁹] = $70,905.91
to determine the EAC we must first find the PV of the cash outflows (including initial outlay) using a financial calculator = $509,395
EAC = (PV x r) / [1 - (1 + r)⁻ⁿ] = ($509,395 x 10%) / [1 - (1 + 10%)⁻⁹] = $88,451.62
EAW = $70,905.91 - $88,451.62 = -$17,545.71
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