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julia-pushkina [17]
3 years ago
9

During the year (not a leap year), Anna rented her vacation home for 87 days, used it personally for 13 days, and left it vacant

for 265 days. She had the following income and expenses:Rent income $7,000Expenses: Real estate taxes 2,500Interest on mortgage 9,000Utilities 2,400Repairs 1,000Roof replacement (a capital expenditure) 12,000Depreciation 7,500What amount of the real estate taxes can Anna deduct as an itemized deduction?
Business
1 answer:
Oksana_A [137]3 years ago
6 0

Answer:

<u>Anna can deduct up to US$ 10,000, so she can deduct as an itemized deduction the payment of US$ 2,500 on real estate taxes she made.</u>

Explanation:

Any taxpayer can deduct real estate taxes on the federal income tax return.  For 2019, the IRS says a taxpayer can deduct up to $10,000 ($5,000 if you're married filing separately) But limits apply and you have to itemize to take the deduction.

<u>Therefore, Anna can deduct up to US$ 10,000, so she can deduct as an itemized deduction, the payment of US$ 2,500 on real estate taxes she made.</u>

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Marina86 [1]

Answer:

sunk cost

Explanation:

Sunk cost is cost that has already been incurred and it cannot be recovered. When making future decisions, sunk cost should not be considered.

The money i paid for the ticket is the sunk cost. I should not consider this cost when making the decision of whether to for the concert or not to

5 0
3 years ago
In which type of appraisal interview does the interviewer communicate the strong and weak points of an employee's performance du
shutvik [7]

<u>Answer: </u>Tell and Listen method of appraisal is used in the above mentioned scenario.

<u>Explanation:</u>

In tell and listen method of appraisal the evaluation of the employees is communicated to them at first. The superior in hierarchy does the appraisal where the superior gives the feedback on the performance at first which includes the strengths and weakness.

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3 years ago
A firm's current profits are $400,000. These profits are expected to grow indefinitely at a constant annual rate of 4 percent. I
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Answer:

A. $21,200,000

B. $20,800,000

Explanation:

A. Calculation to determine The instant before it pays out current profits as dividends

Value of the firm =[(Current profits) × (1 +Opportunity cost of funds)} ÷ (Opportunity cost of funds - Constant growth annual rate)

Let plug in the formula

Value of the firm= [($400,000) × (1 + 0.06)]÷ (0.06 - 0.04)

Value of the firm= [($400,000) × (1.06)]÷0.02

Value of the firm= $424,000 ÷ 0.02

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Therefore The instant before it pays out current profits as dividends will be $21,200,000

B. Calculation to determine The instant after it pays out current profits as dividends

Using this formula

Value of the firm =[(Current profits) × (1 +Constant growth annual rate)} ÷ (Opportunity cost of funds - Constant growth annual rate)

Let plug in the formula

Value of the firm= [($400,000) × (1 + 0.04)] ÷ (0.06 - 0.04)

Value of the firm= [($400,000) × (1.04)] ÷ (0.06 - 0.04)

Value of the firm= $416,000 ÷ 0.02

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3 years ago
Which of the following can explain the upward slope of the short-run aggregate supply curve? a. nominal wages are slow to adjust
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In the short run, the costs of many of the factors used in the production process are fixed.  For example labours wage is fixed for a number of years because of labour contracts. Also the raw materials used in the production process have long term agreements that fix their prices.

As a result of factors of production been fixed in the short run, when general price level rises and the cost of production remains constant, profit also rises.

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Suppose an economist believes that the price level in the economy is directly related to the money supply, or the amount of mone
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