Answer:
Peyton's basis in the stock is $60,000
Explanation:
The transaction is a tax- free exchange which means that the transaction is exempt from any income taxation.
To find out the Peyton's basis in the stock we will Subtract the Fair-market value of the transferred property to the Deferred gain.
= 100,000 – 40,000
= $60,000
Answer:
PV= $7593.12
Explanation:
Giving the following information:
We have 19 equal payments of $41,000 at a rate of 9 %, compounded annually. We need to find the present value.
First, we need to calculate the final value with the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
FV= {41,000*[[1.09^19)-1]}/0.09= $1,886,756.79
Now, we can calculate the present value:
PV= FV/(1+i)^n
PV= 1886756.79/1.09^64= $7593.12
FALSE. A company's code of ethics or code of business conduct describes how the leaders must behave, not the employees.