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LiRa [457]
3 years ago
9

Jeremy earned $100,000 is salary and $6,000 in interest income during the year. Jeremy's employer withheld $11,000 of federal in

come taxes from Jeremy's paychecks during the year. Jeremy has one qualifying dependent child who lives with him. Jeremy qualifies to file as head of the household and has $23,000 in itemized deductions. Assume that in addition to the original facts, Jeremy has a long-term capital gain of $4,000. What is Jeremy’s tax refund or tax due including the tax on the capital gain?
Business
1 answer:
nevsk [136]3 years ago
6 0

Answer:

Follows are the solution to this question:

Explanation:

Points      Description              Amount                        Computation

(1) Major Revenue                          $110,000            \$ 100,000 \ salary + \$ 6,000      \\                      \\Interest \ income + \$4,000 \\\\     \text{                                                                                capital gain in long term}

(2) AGI allowance                   0  

(3) Gross sales adjusted                $110,000                 (1) - (2)

(4) Deduction norm                         18,350          Chief of Household

(5) susceptible to deductions        23,000  

(6) Enhanced standard                        (23,000)                    (5) > (4)

   deduction or individualized

       deductions

(7) Taxable Revenue                        $87,000  

(8) Response for                                 $13,298          [(83,000 - 52,850) \times

    incoming taxes                                                   22\%+ \$6,065] + \$4000\times 15\%

                                                                              (See the household head tax

                                                                                     plan)

(9)  Allowance for children's taxes      (2,000)  

(10)  Withdrawal of tax                          (11,000)  

Taxes due                                            $ 298                      (8) + (9) + (10)

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Leo purchased a stock for $47.10 a share, received a $1.74 dividend per share and sold the shares for $50.10 a share. During the
kondaur [170]

Answer:

6.96%

Explanation:

Find nominal expected return;

Nominal expected return =  [(Dividend + New Price -Old Price) /Old price]*100

= [ (1.74 +50.10 - 47.10) / 47.10 ]*100

= (4.74 / 47.10)* 100

= 0.100637 *100

=10.0637%

Real rate of return = Nominal return - inflation rate

Inflation rate = 3.1%

Real rate of return = 10.0637% - 3.1%

= 6.96%

4 0
3 years ago
Garnet Corporation is considering issuing risk-free debt, or risk-free preferred stock. The tax rate on interest income is 35%,
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Answer:

Explanation:

a) investors wil receive 6% x ( 1-0.35)

= 3.9% risk free debt  after tax.

After  tax  return from risk free  preferred stock earnings must be equal.

to evaluate the cost of capital  fro preferred stock = 3.9%/(1-0.15)

                                                                                    = 4.59%

b) the after-tax debt cost of capital = 6% x (1- 0.40)

= 3.60%.

therefore, 3.60% is cheaper than the 4.59% preffered stoch cost per capital

c)  r* = 1 - [{(1 - 0.40)(1 - 0.15)} / (1 - 0.35)] = 1 - 0.7846 = 0.2154, or 21.54%

Hence, 4.59% x (1 - 0.2154) = 3.60%

4 0
3 years ago
A local firm has debt worth $200,000, with a yield of 9%, and equity worth $300,000. It is growing at a 5% rate, and its tax rat
Over [174]

Answer:

local firm has debt worth $200,000, with a yield of 9%, and equity worth $300,000. It is growing at a 5% rate, and its tax rate is 40%. A similar firm with no debt has a cost of equity of 12%. Under the MM extension with growth, what is the value of your firm's tax shield, i.e., how much value does the use of debt add?

Explanation:

8 0
3 years ago
Given the following information about the economy of Pakistan, calculate Pakistan's GDP. Note that the currency of Pakistan is t
oksano4ka [1.4K]

Answer:

  • <u><em>Pakistan's GDP = 13.53 trillions of rupees.</em></u>

Explanation:

<em>GDP</em> is the gross domestic product. It is the value of all the goods and services produced by an economy (a country), in a period, which is normally one year.

The <em>GDP</em> can be calculated with the equation:

GDP = Consumption + Investment + Goverment spending + Net Exports

Where, Net Exports is the value of the exports less the value of the imports.

Thus, the values that you need to sue to calculate the GDP are:

  • Consumptiion
  • Investment
  • Goverment spending
  • Exports
  • Import

<u>Identify</u> the values that you need to incorporate in your formula. Here is the selection (all the amounts are in trillions of rupees):

  • Consumption = individuals consume: 10.40
  • Investment = businesses invest = 1.35
  • Government spending = goverment purchases = 2.80
  • Exports = Pakistan exports = 1.29
  • Imports: Pakistan imports: 2.31

Those are all. Other items, i.e. foreigners spend (0.60 trillions of rupees) and individuals save (5.00 trillions of rupees), do not count for the GDP.

<u>Compute</u> (in trillions of rupees):

  • GDP = 10.40 + 1.35 + 2.80 + (1.29 - 2.31) = 13.53

<u>Answer</u>: Pakistan's GDP = 13.53 trillions of rupees.

4 0
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One useful method of process improvement involves consideration of how another organization performs a process, identifying and
Sergio [31]

Answer:

a. benchmarking

Explanation:

Benchmarking is a management strategy that a  business uses to measure productivity, or set goals based on the industry's best practices. An organization applies the benchmarking approach to evaluate its quality, processes and procedures, and performance against that of other firms. An organization uses the benchmarking report to improve its operating and product standards.  

Benchmarking can be internal or external. Internal benchmarking involves comparisons between teams, departments, or individuals within an organization. External benchmarking is where a firm gauge its critical operations against those of its competitors or other similar companies.

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