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Arlecino [84]
3 years ago
13

n 2018, Jose paid the following amounts for his son to attend Big State University: Tuition $6,400 Room and board 4,775 Books 77

2 A car to use at school 1,932 Student football tickets 237 Spending money 4,000 How much of the above is a qualified higher education expense for purposes of his Qualified Tuition Program?
Business
1 answer:
MatroZZZ [7]3 years ago
7 0

Answer:

$11,947

Explanation:

The following expenses shall be allowed as qualified higher education expense to Jose for the purpose of his son Qualified tuition program

Tuition Fees                                                   $6,400

Room and board                                           $4,775

Books                                                             $772

Total expenses to be allowed                      $11,947

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What word does this caution,lookout,danger<br> is the signal word used for more sever hazards.
castortr0y [4]

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Explanation:

6 0
2 years ago
Sally opened her own business and resigned from a job paying $25,000 per year. Her savings acccount pays 8% interest, but she wi
DiKsa [7]

Answer:

A) They would be indifferent, as Sally's income net of costs equals $25,000.

Explanation:

Sally's economic profit = accounting profit - opportunity costs

  • accounting profit = $12,000
  • opportunity costs = $25,000 - $15,000 in lost salaries + $2,000 (lost investment revenue) = $12,000

economic profit = $12,000 - $12,000 = $0

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7 0
3 years ago
For each item, enter the appropriate amounts in the associated cells.
rusak2 [61]

Answer:

Jim exchanged an old machine used in his trade or business for a new machine plus $50,000 cash. Jim purchased the old machine for $345,000 and deducted $45,000 of depreciation on the old machine. The new machine has a fair market value of $450,000

Amount realized: $500,000 ($450,000+$50,000)

Adjusted basis: $300,000 ($345,000-$45,000)

Gain realized: $200,000 ($500,000-$300,000)

Gain recognized: $200,000

Sec. 1245 Recapture: $45,000

Sec. 1231 Gain: $155,000 ($200,000 - $45,000)

Jerry purchased a new machine for $100,000. A few years later, Jerry sold the machine for $90,000. Before selling the machine, Jerry claimed $40,000 in depreciation

Amount realized: $90,000

Adjusted basis: $60,000 ($100,000-$40,000)

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8 0
3 years ago
The Yurdone Corporation wants to set up a private cemetery business. According to the CFO, Barry M. Deep, business is "looking u
icang [17]

Answer:

A) NPV= - $428,888.89 B) Company would break Even if g = 5.68%

Explanation:

Hi, we have to bring to present value all the inflows and outflows of cash, this is the formula to use and the math of it.

NPV=-Invesment+\frac{CashFlowYr1}{(return-growth)}

NPV=-1440000+\frac{91000}{(0.12-0.03)} = -428888.89

The question says that "at what constant growth rate would the company just break even..." and well, a NPV=0 is not precisely break even, actually, it means that the company is obtaining exactly what is asking for any investment, but let´s assume that the question was, what should the growth rate be for the company to accept this project?. So we have to solve the first equation for "g", that is:

g=\frac{(Invesment*return-CashFlowYr1)}{Invesment} =\frac{(1440000*0.12-91000)}{1440000} =0.0568

So the constant growth rate has to be at least 5.68% for the company to accept this project (NPV=0)

Best of luck

6 0
4 years ago
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