1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Tpy6a [65]
4 years ago
15

On November 1, year 1, Jamie (who is single) purchased and moved into her principal residence. In the early part of year 2, Jami

e was laid off from her job. On February 1, year 2, Jamie sold the home at a $45,500 gain. She sold the home because she found a new job in a different state. How much of the gain, if any, may Jamie exclude from her gross income in year 2?Multiple Choice$4,550.$31,250.$45,500.$0.
Business
1 answer:
Deffense [45]4 years ago
7 0

Answer:

correct option is $31,250

Explanation:

given data

home sold gain = $45,500

to find out

gain may Jamie exclude from gross income in year 2

solution

as given November 1 purchase home February 1 sold

so we know here that Maximum exclusion will be

Maximum exclusion = $250,000 × \frac{3}{24}

Maximum exclusion = $31,250

so here $31,250 may Jamie exclude from her gross income in year 2

correct option is $31,250

You might be interested in
Simone Company is considering the purchase of a new machine costing $50,000. It is expected to save $9,000 cash per year for 10
max2010maxim [7]

Answer:

At the rate of return of 18%, the purchase of the new machine is not convenient.

Explanation:

Giving the following information:

Simone Company is considering the purchase of a new machine costing $50,000. It is expected to save $9,000 cash per year for 10 years, has an estimated useful life of 10 years, and no salvage value. Management will not make any investment unless at least an 18% rate of return can be earned.

We need to find the net present value using the following formula:

NPV= -Io + ∑[Cf/(1+i)^n]

Cf= cash flow

NPV= -50,000 + 9,000/1.18 + 9,000/1.18^2 + 9,000/1.18^3 + ... + 9,000/1.18^10

NPV= -9,553

At the rate of return of 18%, the purchase of the new machine is not convenient. It will produce a loss in value.

4 0
3 years ago
A vendor has learned that, by pricing caramel apples at $1.25, sales will reach 111 caramel apples per day. Raising the price to
Wittaler [7]

Solution:

Slope = y2 - y1 / x2 -x1

slope = 81 - 111 / $2.00 - $1.25

slope = -30/$0.75

So every $0.75 increase causes a decrease of 30 sales.

So the rise over run or slope of the line is -30/0.75 = -40/1

Start forming the equation:

y = mx + b

y = -40x + b

Substitute one of the points to find the y-intercept:

81 = -40(2) + b

Isolate for the y-intercept:

b = 161

So,

y = -40x + 161

7 0
3 years ago
What have you heard or read about health insurance?
Amiraneli [1.4K]

Answer:

Health insurance is a type of insurance that covers medical expenses that arise due to an illness. These expenses could be related to hospitalisation costs, cost of medicines or doctor consultation fees.

Health insurance provides financial protection in case you have a serious accident or illness. ... Health coverage can help protect you from high, unexpected costs. With Marketplace coverage, you'll get access to preventive services — like shots and screening tests — at no cost to you

7 0
3 years ago
Sunk costs: a. should be considered, but only when marginal cost is less than marginal benefit. b. should be considered only whe
Nina [5.8K]

Answer:

 d. are irrelevant to economic decisions.

Explanation:

Sunk cost is cost that has been incurred and cannot be recovered. They are irrelevant and should not be considered when making economic decisions.

For example, if it costs $1500 to build a store and $500 has already been spent. $500 is the sunk cost and it would not be considered in the decision to continue or abandon the project.

I hope my answer helps you

4 0
4 years ago
love to learn daycare is over budget. which is the easiest category in which to cut costs? miscellaneous payroll rent utilities
alexgriva [62]

Love it or hate it, keeping a balanced budget is one of the most crucial aspects of running a daycare. No matter how excellent the service you offer is, your company will not be able to exist if you do not make more money than you spend.

You can understand exactly where your money is going and identify ways to be more efficient with careful planning and maintaining an eye on your finances. Having a system that you can use and that shows information in a way you can easily comprehend is crucial. The majority of the money you make as a child care provider comes from the parents of the children who are enrolled in your program.

To learn More about daycare from the given link.

brainly.com/question/507309

#SPJ4

3 0
2 years ago
Other questions:
  • Lucky owns mud flats ranch, which is situated on certain nevada acreage. the exterior boundaries of the land extend
    13·1 answer
  • The doubling time of the balance for a money market certificate of deposit (cd) is 25 years. by what factor does it grow in 40 y
    13·1 answer
  • Suppose that the spot price of the US dollar is 1 ($/Canadian dollar) and the one-year forward rate is 1.2 ($/Canadian dollar),
    13·1 answer
  • Nash's Trading Post, LLC sells merchandise on account for $1200 to Morton Company with credit terms of 2/7, n/30. Morton Company
    15·1 answer
  • What is the maximum percentage of net spending income that should be set aside for transportation
    13·2 answers
  • 3.what does it mean when a economist says that a consumer has demand for a good or service?
    10·1 answer
  • What is the effective annual rate​ (EAR)? A. It refers to the cash flows from an investment over a oneminusyear period divided b
    9·1 answer
  • Sonya and Amber work together in the Hong Kong corporate office. Despite having similar backgrounds and education, they cannot a
    13·1 answer
  • Assume that you are nearing graduation and have applied for a job with a local bank. As part of the bank's evaluation process, y
    15·1 answer
  • __________ capital increases cooperation among individuals inside and outside the firm. a. Human b. Visionary c. Social d. Cultu
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!