1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
olga55 [171]
3 years ago
13

Nancy refinances her home mortgage on June 1 of the current year. She obtains a 30-year mortgage at 5%. As part of the refinanci

ng, she pays points of $3,600 (a customary practice in her location). What amount, if any, of the points are deductible ____________?
Business
1 answer:
mylen [45]3 years ago
4 0

Answer:

Nancy  will be able to deduct $70 points.

Explanation:

the deduction is allowed in the year of payment if the following requirements are met:

- your main home is the security for your loan

- cash method of accounting is used

- points are not paid out of borrowed funds.

if Nancy  does not fulfill the requirements, then the points will be allowed to be deducted over the life of the loan..

Therefore, $3600 will be spread over 30 years, Nancy  will be able to deduct $70 points.

You might be interested in
According to bartlett and ghoshal, how should firms from developing countries approach international expansion?
lapo4ka [179]

According to bartlett and Ghoshal, They suggest that companies should use the entry of foreign multinationals as an opportunity to learn from these competitors by benchmarking their operations and performance against them.

A company is a legal entity formed by a group of individuals to conduct and operate a commercial or industrial business. A company may be organized in various ways for tax and financial liability purposes, depending on the corporate law of its jurisdiction.

A company means a legal entity or legal entity established under the Companies Act. It may be a limited or unlimited company, a private or public company, a limited liability company or company with share capital, or a company of common interest.

corporation means a company, partnership, association, corporation, trust, foundation, or organized group of individuals, whether incorporated or not, which (in its official capacity), Recipient, or similar officer or processor. Purpose of the above.

Learn more about the company here: brainly.com/question/24448358

#SPJ4

3 0
2 years ago
Meiji Isetan Corp. of Japan has two regional divisions with headquarters in Osaka and Yokohama. Selected data on the two divisio
abruzzese [7]

Answer:

Please check the info below

Explanation:

1. For Osaka

Margin =  Net Operating Income / Sales *100

= $ 792000 / $9900000 *100

= 8.00%

Turnover = Sales / Average Operating Assets * 100

= $ 9900000 / $ 2475000 * 100

= 4.00%

ROI =  Margin * Turnover

= 8% *4 %

= 32.00%

Hence the correct answer is 32.00%

For Yokohama :

Margin =  Net Operating Income / Sales *100

= $ 2900000 / $ 29000000*100

= 10.00%

Turnover = Sales / Average Operating Assets * 100

= $ 29000000 / $ 14500000* 100

= 2.00%

ROI =  Margin * Turnover

= 10% *2 %

= 20.00%

Hence the correct answer is 20.00%

2. The correct answer is  

Osaka = $ 371,250

Yokohama = $ 435,000

3. The correct answer is No

This is because since Osaka has a higher ROI, Yokohama’s greater amount of residual income is not an indication that it is better managed

4 0
3 years ago
True or false. the emotional needs of human infants are as important as their physical needs
Mice21 [21]
True! Instances of babies that are treated poorly both mentally and physically can equally affect the mental health of that child as they grow up.
3 0
3 years ago
Read 2 more answers
Andrea sued her former employer for a back injury she suffered on the job in 2019. As a result of the injury, she was partially
diamong [38]

Answer:

$172,000

Explanation:

Calculation for what Andrea's 2020 gross income from the above is:

Using this formula

2020 gross income=Punitive damages+ Medical expenses deducted

2020 gross income=$160,000+$12,000

2020 gross income=$172,000

Therefore Andrea's 2020 gross income from the above is: $172,000

5 0
2 years ago
On January 1, Year 1, Friedman Company purchased a truck that cost $33,000. The truck had an expected useful life of 100,000 mil
Rainbow [258]

Answer:

Depreciation expense-Year 2 = $8840

Explanation:

It is important to note that the depreciation is based on the units-of-production method and in case of the truck, we take 100000 miles as its useful life or total units of production.

The depreciable value of the truck is Cost - salvage value,

Depreciable Value = 33000 - 7000 = 26000

The depreciation for year 2 based on units-of-production is,

Depreciation expense for year 2 = 26000 * 34000/100000 = $8840

7 0
3 years ago
Read 2 more answers
Other questions:
  • The price of Cilantro, Inc., stock will be either $70 or $92 at the end of the year. Call options are available with one year to
    8·1 answer
  • ony Manufacturing produces a single product that sells for $ 80. Variable costs per unit equal $ 45. The company expects total f
    15·1 answer
  • Which of these is an example of a variable expense calculated in an organizational budget?
    15·1 answer
  • 1. Of the 540 seniors at Lake City High School, 35% are going on a school trip. If the buses ordered for the trip seat 42 studen
    12·1 answer
  • Observations about "youth gone wild" have lead to recent calls to reduce the age of responsibility to allow for younger violent
    9·1 answer
  • Why is it important to write a business plan?
    5·2 answers
  • You are comparing two annuities. Annuity A pays $100 at the end of each month for 10 years. Annuity B pays $100 at the beginning
    12·1 answer
  • Suppose that a labor economist finds that one of her research subjects has earned significantly higher wages throughout his life
    12·1 answer
  • Thomlin Company forecasts that total overhead for the current year will be $11,742,000 with 164,000 total machine hours. Year to
    11·1 answer
  • Why might a company choose an open office layout?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!