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Liula [17]
3 years ago
12

If the inflation rate averages 3 percent over the next 8 years, the expected cost of services for any year in that time frame is

given by C (x) = K â‹… 1.03x, where K is the present cost. If the cost of a haircut is presently $10.95, find the expected cost 8 years from now.
Business
1 answer:
lys-0071 [83]3 years ago
4 0

Answer:

The expected cost 8 years from now = $13.87

Explanation:

If the inflation rate averages 3 percent yearly over the next 8 years, the expected cost of services for any year in that time frame is given by

C (x) = K (1.03)ˣ

where

K = present cost = $10.95

x = time in years = 8

So, the expected cost of a haircut 8 years from now would be

C(x=8) = 10.95 (1.03)⁸ = $13.87

Hope this Helps!!!!

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Volgvan

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1 year ago
Campbell Corp. exchanged delivery trucks with Highway, Inc. Campbell's truck originally cost $23,000, its accumulated depreciati
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Answer:

equipment    3,700

Explanation:

First we calcualte the values of the machine given up:

<u>traded-out assets</u>

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book value   3,000

fair value   5,000

gain on disposal   2,000

This gain would be recognzie if there was commercial substance. In this case we don't have commercial substance. So it is deffered.

Value given up forthe new equipment:

cash                   700

traded-out        <u>5,000 </u>

total value         5,700

We subtract the deffered gain on disposal to get the accounting value for the new equipment:

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The machine will enter the accounting with 3,700

journal entry

equipment    3,700

acc del        20,000

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  cash                             700

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