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eduard
3 years ago
5

A wealthy art collector has decided to endow her favorite art museum by establishing funds for an endowment which would provide

the museum with $1,000,000 per year for acquisitions into perpetuity. The art collector will give the endowment upon her fiftieth birthday 10 years from today. She plans to accumulate the endowment by making annual end-of-year deposits into an account. The rate of interest is expected to be 6 percent in all future periods. How much must the art collector deposit each year to accumulate to the required amount
Business
1 answer:
Oxana [17]3 years ago
4 0

Answer:

$1,264,466 is the correct answer.

Explanation:

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PilotLPTM [1.2K]

Answer:

The answer is 7.65%

Explanation:

The cost of capital is equal to the cost of debt in this example as it involves a debt instrument. The formula for the cost of debt is as follows:

(Interest Expense x (1 – Tax Rate) ÷  (Amount of Debt – Debt Acquisition Fees + Premium on Debt – Discount on Debt)

In the example, the given values are the following:

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Solution:

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8 0
3 years ago
Langhurst Company sold hardware for $12,000 cash and $18,000 of hardware to credit customers. Which of the following is the corr
lora16 [44]

Answer:

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Account receivable A/c Dr $18,000

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Explanation:

The journal entry is shown below:

Cash A/c Dr $12,000

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(Being the sale of hardware is recorded)

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murzikaleks [220]

Answer:

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bearhunter [10]
Since the coffee beans arrived on September 2 instead of on September 1, LaTisha's best defense would be breach of a legally binding contract by Marco. Marco failed without, any legal excuse, to deliver the products as promised. Marco violated the legal agreement between the two parties since he did not perform his obligation.



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