Taxpayer L has income of $55,000 from Norway, which imposes a 40 percent income tax, and income of $45,000 from France, which im
1 answer:
You might be interested in
Answer:
PV=454.54
Explanation:
This problem can be solved applying the concept of future value, the 500 represents money in the future an the 10% is how that money is valued over time
where FV is future value, PV is the present value, i is the periodic interest rate and n is the number of periods. So applying to this particular problem we have:
solving for PV we have:
PV=454.54