Penn Medical Center, a for-profit hospital, is considering the purchase of a new 64-slice CT scanner. The cost of the new scanner is $5 million and will be depreciated over 10 years on a straight line basis to $0 savage value. The tax rate is 40%. The financing options include either borrowing the full cost of the scanner or leasing a scanner. The lease option is a 5-year lease with equal before-tax lease payments of $950,000 per year.
Beginning inventory is 4,000 units of wood and 30 units of steel. The ending inventory of wood is planned to decrease 500 units in each of the next 2 months, and the steel inventory is expected to increase 5 units in each of the next 2 months. How many units of wood are expected to be used in production during the second month? (Points : 5) 12,500 units 10,000 units 15,000 units 12,000 units Question 12.12. (TCO 4) Which statement is true?
| Math 103 Final Project – Parts 1, 2, and 3 | | | Math 103 Instructor: Toni Robertson December 11, 2010 Math 103 Instructor: Toni Robertson December 11, 2010 Part 1: 1a. What is the shortest loan (36 months, 48 months, 60 months or 72 months) that has a monthly payment within your $500 budget that will allow you to buy the $15,000 car? Answer: Through Bank of America, I found a rate of 2.99% for the 36, 48 and 60 month loans. We are able to put down 20% and will need to finance $12,000. The shortest loan period for the $15,000 car that would be under our $500 limit is the 36 month loan at a rate of $348.93 per month.
Essay Below is a free essay on "•Progressivism: Where Will You Put Your Million Dollars?" from Anti Essays, your source for free research papers, essays, and term paper examples. Dear Aunt Bessie, In one day, I became a Philanthropist. The 1890’s to the 1920’s is know as the Progressive Period. In this time the average poverty level for a family of six is $600, and the average earning of American worker is less than $500.
- Their home is insured for $400,000 - They have two cars aged five and six years old and both are fully insured - They have private hospital over and intend to keep it as long as they can afford it. They pay $213 per month for this cover. - They believe they will need $50,000 p.a. in retirement Gail: - Part-time nurse
As Bernadette’s AGI ($103,000) is less than $160,000, Bernadette qualifies for a $2,500 American Opportunity credit. The lifetime learning credit is available per taxpayer on the first $10,000 of qualifying tuition expenses. Accordingly, her tuition ($2,000) would qualify for the credit during 2011. Therefore, Bernadette’s maximum lifetime learning credit would be $400 (20% × $2,000) for 2011. However, the $400 maximum credit would have to be reduced by $20 since her $103,000 AGI exceeds the threshold level of $102,000 for married
You have signed a contract to build a garage for the Simpsons. You will receive a $500 bonus for completing the project within 15 working days. The contract also contains a penalty clause in which you will lose $100 for each day the project takes longer than 15
How? Response: Issue: Different tax consequences between paying down the mortgage (debt) and assuming a new mortgage (debt) for Federal income tax purposes Applicable Law: IRC code section 56(b) Conclusion: The only discernible difference is the amount of interest that can be deducted, and without further details I cannot provide you a more definitive answer as to which route is better. To the question of what are the tax consequences of selling a house the Smiths are allowed to deduct a total of $500,000 received from gain every two years on the sale of a primary residence. It is better to take a new mortgage only in case where the new one offers a rate of interest which is lower than the old one. Otherwise, there is not much sense in
How would your answer differ (if at all) if the couple had AGI of $36,000 that was earned entirely byTim ? Answer The maximum amount of qualifying expenses is limited to $6,000 for two or more children. But, the amount should be reduced by the $1,800 that Martha received from her employer. So the total expenses are $4,200. Because their AGI was over $43,000, Tim and Martha are entitled to a credit equal to 20% of their expenses, or $840.
I somehow got the chance to be part of a once in a lifetime experience; I got to lay a wreath at the Tomb of the Unknown Soldier. This to me is the greatest honor I could ever wish for. Watching the soldier march back and forth, guarding the tomb, made me realize how important this monument was to him and the other soldiers there. When I walked down those steps and carried the wreath to the stand where a soldier helped me lay it, I was feeling two different emotions. One part of me was grieving for the unknown soldiers of past wars, the other part of me felt accomplished.