Answer:
The prize is worth $111,258.73.
Explanation:
Giving the following information:
Cf= $1,000 a month
Interest rate= 0.07/12= 0.005833
Number of months= 15*12= 180
First, we need to calculate the final value:
FV= {A*[(1+i)^n-1]}/i
A= cash flow
FV= {1,000*[(1.005833^180) - 1]} / 0.005833
FV= $316,951.28
Now, the present value:
PV= FV/(1+i)^n
PV= 316,951.28/(1.005833^180)
PV= $111,258.73
Answer:
Remsco's current-year charitable contribution deduction is $7,250
Contribution carryover is $ 290
Explanation:
Taxable income = $61,000
Charitable contribution limit modified taxable income = $72,500
Charitable contributions for the year = $7,540
Since, charitable contribution deduction is limited to 10% of charitable contribution limit modified taxable income
,
Remsco's current-year charitable contribution deduction = $72,500 x 10%
= $7,250
Therefore, contribution carryover = $7,540 - $7,250 = $ 290
A company that is based on a direct flow of authority from the top executive to subordinates is known as a Line of Organization. In this type of organization, the decision and authority are structured<span> from the highest position down directly to its subordinates.</span>
Answer: disaffirm
Explanation:
most cases, whether the contract has not yet been performed (an executory contract) or has been fully performed (an executed contract), the minor may disaffirm the contract.
It should be noted that a contract that is signed by a minor unless in some rare exceptions is normally void and therefore, the minor can disaffirm the contract.