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Kent Fuller is in the 34 percent tax bracket. A nontaxable employee benefit with a value of $2,300 would have a tax-equivalent v

Phantasy [73]

Answer:

$3,484.85

Explanation:

Calculation to determine tax-equivalent value

Using this formula

Tax-equivalent value=Nont-taxable amount/(1-Tax rate)

Let plug in the formula

Tax-equivalent value=$2,300/(1-.34)

Tax-equivalent value=$2,300/.66

Tax-equivalent value=$3,484.85

Therefore A nontaxable employee benefit with a value of $2,300 would have a tax-equivalent value of:$3,484.85

6 0

2 years ago

In year T, a US citizen buys 100 shares of Sonic on the Tokyo stock exchange at 700 yens each. Suppose the exchange rate then is

zlopas [31]

Answer:

Change in US external wealth between periods T and T +1 in dollars = -$100

Explanation:

Since nothing else changes, this implies that the exchange rate per yen is $0.01 in periods T and T +1. Therefore, we have:

Value shares of Sonic in period T in dollar = Number of shares of Sonic bought in period T * Price per share of Sonic in Yen in period T * Exchange rate per yen in periods T = 100 * 700 * $0.01 = $700

Value shares of Sonic in period T+1 in dollar = Number of shares of Sonic in period T+1 * Price per share of Sonic in Yen in period T+1 * Exchange rate per yen in period T+1 = 100 * 600 * $0.01 = $600

Change in US external wealth between periods T and T +1 in dollars = Value shares of Sonic in period T+1 in dollar - Value shares of Sonic in period T in dollar = $600 - $700 = -$100

4 0

2 years ago

Data concerning Pellegren Corporation's single product appear below: Fixed expenses are $531,000 per month. The company is curre

GrogVix [38]

Answer:

a. decrease of $18,000

Explanation:

The calculation of overall effect on the company's monthly net operating income is shown below:-

<u>Particulars Current Proposed </u>

Sales $800,000 $837,000

($200 × 4,000) (200 - 14) × (4,000 + 500)

Variable

expenses $160,000 $180,000

(40 × 4,000) (40 × (4,000 + 500))

Contribution

margin $640,000 $657,000

Fixed

expenses $531,000 $566,000

($531,000 + 350,00)

Net operating

income $109,000 $91,000

Decrease in net operating income is

= $109,000 - $91000

= $18,000

6 0

2 years ago

What is the first step in developing research-based business reports?

tatyana61 [14]

Answer: The first step in developing research-based business reports is identifying what decision makers want to accomplish.

Explanation: The establishment of the objective to be achieved is fundamental because it is what will guide the development of the commercial report.

6 0

2 years ago

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

Evgen [1.6K]

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

3 0

2 years ago