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Anika [276]
3 years ago
8

Marvin had the following transactions: Salary $50,000 Interest on City of Chicago bonds $250 Bank loan (proceed to buy personal

auto) $10,000 Alimony payment to ex-wife (Divorce was finalized in 2018) $12,000 Child support payment $6,000 Gift received from aunt $20,000 Marvin's AGI is: A. $32,000 B. $38,000 C. $44,000 D. $56,000 E. $64,000
Business
1 answer:
Alina [70]3 years ago
5 0

Answer:

B. $38,000

Explanation:

Calculation for Marvin's AGI

Salary $50,000

Less Alimony payment to ex-wife $12,000

AIG $38,000

($50,000-$12,000)

Therefore Marvin's AGI is $38,000

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DENIUS [597]

Answer:

Cover letters can also provide insight and explanation into sensitive information that your resume cannot, such as lapses in employment, career changes and layoffs.

Explanation: I put this as my answer and got it right. :)

6 0
3 years ago
Smith Company’s adjusted trial balance on August 31, 2013, its fiscal year-end, follows.
CaHeK987 [17]
A compute the company’s net sales for the year
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3 years ago
Beaver Company (a multi-product firm) produces 5,000 units of Product X each year. Each unit of Product X sells for $8 and has a
Jlenok [28]

Answer:

C. Decrease by $7,000

Explanation:

Calculation to determine what company's overall operating income would Decrease by

Using this formula

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Overall operating income=(5,000 units*$5)-$18,000

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Therefore As a result of discontinuing Product X, the company's overall operating income would:Decrease by $7,000

5 0
3 years ago
Describe at least two methods you would use to identify job opportunities if you were looking for a job. Explain why you would u
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Answer:

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4 0
3 years ago
Setrakian Industries needs to raise $87.9 million to fund a new project. The company will sell bonds that have a coupon rate of
Goryan [66]

Answer:

47,884.79  units of bonds

Explanation:

The units to be sold to arise $87.9 million  will be equal to the

$87.9 million / divided by the bond price

The price of a bond is the present value (PV) of the future cash inflows expected from the bond discounted using the yield to maturity. These cash flows include interest payment and redemption value

The price of the bond can be calculated as follows:

Step 1

PV of interest payment

Semi-annual coupon rate = 5.92/2 =  2.96%

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Semi annual yield = 6.67%/2  = 3.335

PV of interest payment

= A ×(1- (1+r)^(-n))/r

=  59.2× (1-(1.03335)^(-2×20))/0.03335)

= 1,297.22

Step 2

PV of redemption value

PV = FV× (1+r)^(-n)

= 2,000 × (1+0.03335)^(-2× 20)

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Step 3

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= 1297.22 + 538.43

= $1835.65

Step 4

Units to be used

= $87.9 million/ $1,835.65

=  47,884.79  units

4 0
4 years ago
Read 2 more answers
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