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ZanzabumX [31]
3 years ago
15

On October 1, 2019, Illini Company purchased a truck for $42,000. The truck is expected to have a salvage value of $3,000 at the

end of its 3-year useful life. If the company uses the straight-line method, the depreciation expense recorded during the year ending December 31, 2019, will be
Business
1 answer:
user100 [1]3 years ago
5 0

Answer:

$3,250.00

Explanation:

Cost price for the truck is $42,000

Salvage value for truck is $3000

Depreciable amount is cost price - salvage value

= $42,000 - $3000

=$39,000

The truck has three years of useful life:  depreciation per year will be

=$39,000/3

=$13,000

In 2019, the truck operated for three months, ( October, November, and December)

The amount of depreciation to be recorded in 2019

=$13,000/12 x 3

=$,083.3333333 x 3

=$3,250.00

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7 0
2 years ago
Intellectual property assets are
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The answer would be C.
6 0
2 years ago
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Acme company has just completed the incorporation process and received its articles of incorporation from the state. at the firs
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6 0
3 years ago
Turnbull Co. is considering a project that requires an initial investment of $270,000. The firm will raise the $270,000 in capit
svp [43]

Answer:

WACC = 11.45 %

Explanation:

Weighted average cost of capital is the average cost of all of the long-term types of finance used by a company weighted according to the that amount of finance used in relation to the total pool of fund

WACC = (Wd×Kd) + (We×Ke) + (Wp × Kp)

After-tax cost of debt = Before tax cost of debt× (1-tax rate)

Kd-After-tax cost of debt = 11.1%(1-0.4) =6.66%

Ke-Cost of equity = 14.7%

Kp= Cost of preferred stock = 12.2%

Wd-Weight of debt =100/270=0.370

We-Weight of equity = 140/270=0.518

Wp= weight of preferred stock = 30/270=0.111

WACC = (0.518× 14.7%) + (0.370 × 6.7%) + (0.111×12.2) =  11.447%

WACC = 11.45 %

6 0
2 years ago
A company paid $0.85 in cash dividends per share. Its earnings per share is $3.50, and its market price per share is $35.50. Its
natali 33 [55]

Answer: 2.4%

Explanation:

Cash dividend = $0.85

Earnings per share = $3.50

Market price per share = $35.50

The dividend yield will be calculated as:

= Cash dividends / Market price per share

= $0.85 / $35.50

= 0.024

= 2.4%

The dividend yield is 2.4%.

3 0
2 years ago
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