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Zigmanuir [339]
3 years ago
14

The city of Springvale imposes a net income tax on businesses operating within its jurisdiction. The tax equals 1% of income up

to $100,000 and 1.5% of income in excess of $100,000. The Springvale Bar and Grill generated $782,000 net income this year. Its city income tax is_______.
Business
1 answer:
sveta [45]3 years ago
4 0

Answer:

$11,230

Explanation:

The city of Springvale imposed a net income tax on all businesses

Each business will make a payment of 1% for any amount up to $100,000 and 1.5% for any amount above $100,000

The net income generated by Springvale Bar and Grill is

= $782,000- $100,000

= $682,000

Therefore, it's city income tax is calculated as follows

(1/100+100,000) + ( 1.5/100+682,000)

( 0.01+100,000) + ( 0.015+682,000)

= 1000 + 10,230

= $11,230

Hence, Springvale Bar and Grill will pay a net income tax of $11,230

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Answer:

Lobbying for or against trade restrictions:

Trade restrictions affect the overall welfare of an economy because they change the price consumers pay for a good and the quantity produced and consumed domestically. Trade restrictions, such as tariffs, usually benefit domestic and hurt domestic because they the domestic price of a good.

<u>True </u>

Producers find it difficult to exert the political influence needed to establish trade restrictions because the benefits to producers are very small and widely dispersed, which makes it difficult for producers to organize.

<u>False</u>

Explanation:

7 0
2 years ago
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A polisher costs $10,000 and will cost $20,000 a year to operate and maintain. If the discount rate is 10 percent and the polish
kirill115 [55]

Answer:

EAC $22,638

Explanation:

                            0               1                  2           3                4             5

Cost                    (10,000)

Cashflows                            20,000      20,000   20,000     20,000    20,000

PV factor                              1/1.1             1/1.1^2       1/1.1^3        1/1.1^4     1/1.1^5

NPV=Cashflow*PV Factor    18,182       16,529        15,026    13,660       12,418

NPV=10,000+18,182+16529+15,026+13,660+12,418)=85,815

EAC=NPV*r/1-(1+r)^-n=85,815*.1/(1-(1+.1)^-5=$22,638                              

5 0
3 years ago
Will give brainliest for all answers
valkas [14]

Answer:

2. interest is the monetary charge for the privilege of borrowing money.

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3. benefits: buy on credit, interest-free cash withdrawals, discounts and cashbacks, improvement of credit score, insurance coverage.

drawbacks: debt, damaging the card, extra fees, limited use.

6. Annual percentage rate, annual fee, minimum repayment, cash backs, loyalty points/rewards and charges.

7. grace period is the period of time after the payment is due but before late fees, interest or other penalties start to accrue. Grace period can help you to plan large purchases in a way that maximizes your interest-free period.

8. pay the balance in full and on time, pay more than the minimum required, be mindful of your credit limit.

Explanation:

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5 0
2 years ago
For a given product, the optimal order quantity is 600 units, average annual demand is 12,000 units, the average lead time is 1
sashaice [31]

Answer:

700 units

Explanation:

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Please note that 11 months are taken as 1 month is lead time therefore it is excluded for per month orders.                    

8 0
2 years ago
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mojhsa [17]
The answer is B ) False.
5 0
3 years ago
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