Answer: $28,000
Explanation:
Jonathan can deduct both the real estate taxes and the state income taxes but the Tax Cuts and Jobs Act cut the deduction one can claim on State and Local taxes to $10,000 from 2018 to 2025.
The total deduction Jonathan can claim is therefore:
= Real estate taxes + Capped state income tax
= 18,000 + 10,000
= $28,000
It is something with a circle
As a result of the discontinued operations loss, net of tax, the earnings per share would decrease by $2.24.
<u>Explanation:</u>
Change in EPS
= $1120000 ÷ 500000 outstanding shares
= $2.24.
Answer:
Charge a higher price and produce less output
Explanation:
A monopolistic markets imeans that there is the absence of other suppliers of the same product or service, making them the sole market of the product or service. This can make them charge a premium to their customers. Consumers have no alternatives of options and are forced to pay the price for the goods dictated by the monopolist. ITherd is a tendency for the monopolist to make prices high high prices, it may not necessarily be a monopolistic behavior.
A monopolistic market can restricts output to raise the price leading to less production, which reduces total real social income.
