1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Rashid [163]
3 years ago
12

Mr. and Mrs. Kim, married filing jointly, own a principal residence and a vacation home. Each residence is subject to a mortgage

that qualifies as acquisition debt, and both mortgages were incurred before December 15, 2017. This year, the mortgage holders provided the following information: Mortgage Interest Paid $ 45,000 26,300 Average Balance of Mortgage $ 969,800 361,000 Principal residence Vacation home
Compute Mr. and Mrs. Kim's qualified residence interest. (Do not round intermediate calculations. Round your final answer to the nearest dollar amount.)
Qualified residence interest________
Business
1 answer:
Evgen [1.6K]3 years ago
3 0

Answer:

$53,577

Explanation:

Computation for Mr. and Mrs. Kim's qualified residence interest

Using this formula

Qualified residence interest=(Acquisition debt ÷ Total debt) ×Total interest

Where,

Total Acquisition=$ 969,800+ 361,000

Total Acquisition=$1,330,800

Total debt =$ 45,000 +26,300

Total debt=$71,300

Let plug in the formula

Qualified residence interest=(1,000,000÷$1,330,800)×$71,300

Qualified residence interest=$53,577

Therefore the Qualified residence interest is $53,577

You might be interested in
Summarise the following passage in on more than 60w words and supply an appropriate title:every second,1 hectare of the world's
Inga [223]

Answer:

I don't know...

Explanation:

I'm sorry...............

7 0
2 years ago
If expectations of the future inflation rate are formed solely on the basis of a weighted average of past inflation rates, then
vaieri [72.5K]

Option C

If expectations of the future inflation rate are formed solely on the basis of a weighted average of past inflation rates, then economics would say that expectation formation is:  adaptive.

<u>Explanation:</u>

Adaptive expectations hypothesis implies that investors will modify their expectations of future behavior based on current prior behavior. In finance, this impact can effect people to produce investment decisions based on the way of contemporary historical data, such as stock price activity or inflation rates, and modify the data to prophesy future exercise or rates.  

If the market has been trending downward, people will possible expect it to proceed to trend that way because that is what it has been acting in the recent past.

7 0
3 years ago
Explain the importance of mass communication​
pashok25 [27]
Another important objective of mass communication is to create public opinion on any national or international issue. Mass media attempts to create public opinion through providing their audiences with a realistic picture of the world, activities of the leaders, governmental politics
8 0
2 years ago
Jasper is a self-employed businessman. on march 5, 2015 he purchases a personal computer for use at his home. he uses the comput
g100num [7]
Jasper could most certainly claim depreciation on the computer that is, 50% of it plus 50% of the purchase price and I know because I am self-employed too and I know that legitimate office expenses like a new printer, printer paper etc can be claimed according to the amount used for the business.
7 0
3 years ago
(b) Cite 3 reasons for and 3 reasons against rebuilding Greensburg as a “green town.”
mamaluj [8]

Answer:

The following are 3 against reasons for the reconstruction of Greensburg as the "green city":

Explanation:

Following are the reasons and the counter reasons:

Reasons:

  • Its tornado was something which will never be large as ever before, in which the city has been harmed and 95% of his residences have been destroyed. It also offers you to recreate the green city.  
  • The creation of a green city would also enable many cities to the devastated area to integrate with green technology.  
  • The Greenburg would become an icon with style as well as a prototype for the building of a clean energy city.

Counter Reason:  

  • The green tech isn't cheap and it would put pressure on the public resources.  
  • When a tornado of the same size hit Greenburg, then nobody would cause a serious source of financial and private assets.  
  • The city should give priority to tornado refugee camps that are capable of protecting public goods instead of building a green culture.
6 0
3 years ago
Other questions:
  • Kathleen, a manager, is attempting to determine whether she has both the capability and the resources to produce one of several
    11·1 answer
  • Roberto consumes coke exclusively. he claims that there is a clear taste difference and that competing brands of cola leave an u
    12·1 answer
  • The following information relates to the manufacturing operations of the JNR Printing Company for the year:
    10·1 answer
  • Which of the following project evaluation methods focuses on accounting income rather than cash flows? None of the answers is co
    13·1 answer
  • Abbot Corporation reported a net operating loss of $400,000 in 20X3, which the corporation elected to carry forward to 20X4. Inc
    13·1 answer
  • Looking forward to next year, if Digby’s current cash amount is $17,478 (000) and cash flows from operations next period are unc
    11·1 answer
  • This is where labor and other factors of production are sold in the circular flow model of income in economic theory *it’s for e
    14·1 answer
  • Prepare journal entries to record each of the following transactions. The company records purchases using the gross method and a
    13·1 answer
  • What is the maximum amount a firm should pay for a project that will return $15,000 annually for 5 years if the opportunity cost
    12·1 answer
  • How do you do income statement​
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!