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vovangra [49]
3 years ago
15

David paid $975,000 for two beachfront lots in coastal South Carolina, with the intention of building residential homes on each.

Two years later, the South Carolina legislature passed the Beachfront Management Act, barring any further development of the coast, including David's lots. When David files a complaint to seek compensation for his property, South Carolina refuses, pointing to a passage in David's own complaint that states "the Beachfront Management Act [was] properly and validly designed to preserve... South Carolina's beaches..." Is South Carolina required to compensate David under the Takings Clause?
Business
1 answer:
Gnoma [55]3 years ago
7 0

Answer:

The correct answer would be, Yes South Carolina would be compensating David as his property is now economically valueless.  

Explanation:  

Under the taking clause, 'The Beachfront Management Act was properly and validly designed to preserve South Carolina's beaches', which means that no one will be allowed to do any development project near beaches in order to save the beaches.  

Though it is already written in the Act, The Beachfront Management Act barred any further development on the coasts of Carolina, which makes the purchased property of David as economically valuless, so South Carolina would be compensating him as the law has passed and they won't allow further development but they need to compensate the people who purchased the property on the beaches for the purpose of future business.

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On December 31, year 3, Byte Co. had capitalized software costs of $600,000 with an economic life of four years. Sales for year
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Answer:

correct option is b. $450,000

Explanation:

given data

capitalized software costs = $600,000

expected total sales = 10%

sale = 4 year

net realizable value = $480,000

solution

we get here net capitalized cost of computer software that is express as

net capitalized cost of computer software =  Year 1 balance - Year 2 amortization .................1

here

Year 2 amortization is

Year 2 amortization = capitalized software costs ÷ total projected sale .......2

Year 2 amortization = \frac{600000}{4}  

Year 2 amortization = $150,000

so here

Year 2 net capitalized cost is = $600,000 - $150,000

Year 2 net capitalized cost is  $450000

so correct option is b. $450,000

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Hope this helps!
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