Based on the information given she is potentially eligible for a retirement savings contributions credit (Saver's Credit) of up to: $200.
The minimum threshold for single filing status is $31,500 threshold but based on the information given we were told that Erin modified adjusted gross income (MAGI) is $31,000 which is lower than $31,500.
Based on this Erin credit rate is 10% of the amount she contributed to the traditional IRA, which mean that she is eligible for a Saver's Credit of up to $200 calculated as:
Saver's Credit=$2,000×10%
Saver's Credit =$200
Inconclusion she is potentially eligible for a retirement savings contributions credit (Saver's Credit) of up to: $200.
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Answer:
False
Explanation:
Monopoly production will lead to a lower output at a higher price compared to the competitive production sice a smaller amount of service is produced and sold at a higher price. So it doesn't make sense to charge a monopoly price.
Answer:
No of common stock outstanding
= <u>Total value of common stock issued</u>
Par value per share
= <u>$196,000</u>
$10
= 19,600 shares
Explanation:
In this case, we will divide the total value of common stock issued by the par value per share so as to obtain the number of common stock outstanding.
Answer: (B). raises the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level.
Explanation: When a minimum-wage law forces the wage to remain above the level that balances supply and demand, it raises the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level.
