168,000 is amount of the gain is Ethan allowed to exclude from his gross income
Solution:
Ethan's post 2009 non-qualified use is 2 years.
He owned the property for 10 years so he is not allowed to exclude 20% of the gain
= $210,000 × 20% = $42,000
He is allowed to exclude = ($210,000 - $42,000)
= $168,000
Answer:
Price Floor led Excess Supply can be solved by : Preserving goods Buffer Stock ; or processing goods to increase their shelf life (in case of perishable goods like Milk)
Explanation:
Unregulated markets are at equilibrium where : market demand , market supply are equal ; and downward sloping demand curve , upward sloping supply curve intersect.
Price Floor is minimum mandated price set by government, below which a good can't be sold in the market. It is usually set above equilibrium price, to protect interest of sellers. Example : Minimum Support Price as minimum agricultural goods price to protect interest of farmers, Given Milk Price floor case.
Price Floor creates artificially higher prices ; so increases supply, decreases supply & hence creates Excess Supply. Government can solve this excess supply by preserving stock supply for contingent times , eg - maintaining buffer stock. If the good is of perishable nature, as given milk case : it should be processed further to increase its shelf life, eg - cheese, such that the stock supply can be released at a slower pace.
To solve this question, take 3% of $10,000 to see what the increase would be:
$10,000 x 3% = $300
There is an increase of $300 due to the 3% credit card processing fee that the credit card company is imposing on Elliston.
The level of demand that represents a real intention to purchase by people with the means to pay
Answer:
Income = $8,200
Less:
Federal tax 10% = -$820
State tax at 5.5% = -$451
FICA at 7.65% = -$627.30
Total deduction = -$1,898.30
Net pay = $6,301.70
