Long-term investments that cost the company $25 were sold during the year for $54 and land that cost $53 was sold for $28. In ad
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Answer:
TRUE
Explanation:
When supply is perfectly inelastic, the supply curve is vertical as shown in the attached plot. Thus, the tax that shifts the supply curve upward would have no effect on the equilibrium quantity or price paid by consumers. Since equilibrium quantity or price paid by consumer don't change there's no burden on them. However, no team's owners would receive a lower after tax price and thus bearing the entire tax burden.
Answer:
Interest revenue from the CD 470.04
Explanation:
we will calcualte the future value of the CD and from there calculate the interest:
Principal 2,200.00
time 8.00 (2 years x 4 quarter per year)
rate 0.02450 (9.8% divided by 4 quarter per year)
This divisions and multiplication are done to make time and rate be express i nthe same metric.
Amount 2,670.04
Now, we calculate interest revenue:
Amount - Principal
2,670.04 - 2,200 = 470.04