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LenaWriter [7]
3 years ago
10

You own a house that you rent for $1,325 per month. The maintenance expenses on the house average $245 per month. The house cost

$228,000 when you purchased it 4 years ago. A recent appraisal on the house valued it at $250,000. If you sell the house you will incur $20,000 in real estate fees. The annual property taxes are $2,950. You are deciding whether to sell the house or convert it for your own use as a professional office. What value should you place on this house when analyzing the option of using it as a professional office?a. $225,480b. $250,000c. $0d. $230,000e. $228,000
Business
1 answer:
ANTONII [103]3 years ago
5 0

Answer:

d. $230,000

Explanation:

Calculation to determine What value should you place on this house when analyzing the option of using it as a professional office

Using this formula

Opportunity cost = Recent appraisal on the house - Real estate fees

Let plug in the formula

Opportunity cost = $250,000 - $20,000

Opportunity cost = $230,000

Therefore the value you should place on this house when analyzing the option of using it as a professional office is $230,000

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What information does a supply schedule provide?
lesya [120]

Answer:

See below

Explanation:

A supply schedule shows the quantities that suppliers are willing to sell in the market at different prices. It is a table format with quantity on one column and prices on another. As per the law of supply, high prices lead suppliers to supply more at the market.

The supply schedule illustrates in a table format the relations between the price and the quantity supplied. It will show how the quantity increase as prices increases. The supply schedule is a tabular representation of the supply curve.

7 0
3 years ago
What are stocks? Sorry it’s so simple but I was hoping I could get a good answer.
bazaltina [42]
Stocks are securities that represent ownership in the one company you decide to invest in.For companies its a way to make money to invest in other projects yet for investors its a way to earn money and outpace inflation over time.
Hope that answers
5 0
3 years ago
In 1-2 sentences, explain why scarcity exists.
prohojiy [21]
Scarcity refers to a state of being in short supply.

Scarcity exists because distribution of resources is unequal. Majority of the people tend to get more than they need in preparation for future uses. They did not take into consideration that other people also need the items they have stocked up on. This results to unequal distribution of resources. Those who had first access to the goods have more than they need while those who came last have goods that is not enough to sustain their needs. They are the ones experiencing scarcity.

3 0
3 years ago
A society decides that it needs to produce more corn to feed the growing population. What must it do before it begins the produc
Aneli [31]

Answer:

Perform an analysis on existing resources such as land availability, water availability, manpower, mechanization

Explanation:

The first thing required in such case is to first analyze the existing resources available to them to begin the production process. One factor to be considered is water availability. Do they have the available amount of water for irrigation purposes or for other purposes in the production process. Do they have available land area that can feed a growing population. They need to also check if they have adequate manpower and mechanization to engage in such large-scale production of corn.

3 0
3 years ago
g You earn $40,221 at your job and must pay 11% of your income in taxes. You then decide to save 8% of your disposable income. H
Yanka [14]

Answer:

The amount left for consumption spending is $32,932.95

Explanation:

The amount left for consumption spending is known as disposable income or take-home pay less savings .The disposable income is the income left after taxes have been paid to relevant tax authority.The computation of amount left for consumption is done below:

Gross income                                           $40,221

Tax at 11%(11%*$40,221)                            ($4424.31 )

Disposable income                                   $35,796.69

Savings at 8% of disposable income

($35,796.69*8%)                                          ($2,863.74)

Amount left for consumption spending     $32,932.95

This is not mean that I have to spend this $32,932.95 during the month, there might some investments  I want to my money on to yield more returns.

4 0
3 years ago
Read 2 more answers
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