Based on the information the amount of penalty that Victoria will have to pay is $850.
<h3>Penalty amount:</h3>
Using this formula
Penalty amount=(Tax return×Tax rate)×2
Where:
Tax return=$8,500
Tax rate=5%
Let plug in the formula
Penalty amount=( $8,500 x 5%) x 2
Penalty amount=$425×2
Penalty amount=$850
Inconclusion the amount of penalty that Victoria will have to pay is $850.
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Answer:
$30.1
Explanation:
Adjusted basis refers to the net value of an asset after considering depreciation and capital investments. It is the net value of an asset.
Adjusted taxable income is the income after adjusting for depreciation and interest.
For a sole proprietorship, the income of the business is the same as owners' income.
For Renee, adjusted taxable income will be,
Total revenue= $85M
Net expenses equal to total revenue minus depreciation minus interest paid
=$78.1, - $10.1 - $12.7
=$54.9
Adjusted taxable income= Total revenue - net expenses
= $85 - $54.9
=$30.1
Answer:
(a) 5
(b) $150 million
(c) 45 million
Explanation:
(a) Multiplier = 1 ÷ (1 - MPC
)
= 1 ÷ (1 - 0.8
)
= 1 ÷ 0.2
= 5 ⇒ the value of the simple multiplier is 5.
b) If the autonomous expenditure is increased by $30 million then the total output will increase by:
= $30 million × 5
= $150 million
c) If the Marginal propensity to import is 0.3 then the import will increase by:
= 150 × 0.3
= 45 million
Answer:
A. supply curve shifts to the left
Explanation:
An increase in the prices of inputs from $4 to $6 shows economic problems that include a reduction in capital stock, labor, and an increased unemployment rate. This can also give room for inflation.
This increase shows that due to shortage in labor supply, it now costs more to produce a product.
Due to all the above mentioned reasons, the supply curve of both long run and short run supply curves shifts left.
Cheers.
