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Otis is the CEO of Rectify, Inc., a private foundation. Otis invests $500,000(80%) of the foundation’s investment portfolio in derivatives. Previously, the $500,000 had been invested in corporate bonds with an AA rating that earned 4% per annum. If the derivatives investment works as Otis’s investment adviser claims, the annual earnings could be as high as 20%. a. Determine whether Rectify is subject to any of the taxes imposed on private foundations. b. If so, calculate the amount of the initial tax. c. If so, calculate the amount of the additional tax if the act causing the imposition of the tax is not addressed within the correction period. d. Are Otis and the foundation better off financially if the prohibited transaction, if any, is addressed within the correction period? Explain.
Vandalay Industries is trying to choose between two alternative (mutually exclusive) machines. Whichever machine is selected will be utilized for the foreseeable future (in addition, for the foreseeable future, all revenues, costs and expenses are ex..
Horatio Alger has just become product manager for Brand X. Brand X is a consumer product with a retail price of $1.00. Retail margins on the product are 33%, while wholesalers take a 12% margin. What is the unit contribution rounded to whole pennies?
An investment project provides cash inflows of 200, 400, 670, 890, 1130, 1040, 880, 740, 530, 200, 110, 30 each year starting in year 1. What is the project payback period if the initial cost is $5,600? this must done in excel.
A couple has just given birth to a baby and named him Jimmy. They want to setup a college savings account for Jimmy and start saving for his college education. How much will you need at the end of 18 years to fund Jimmy's college education for 4 year..
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You are planning your retirement in 10 years. You currently have $165,000 in a bond account and $605,000 in a stock account. You plan to add $7,500 per year at the end of each of the next 10 years to your bond account. How much can you withdraw each ..
A single 5-year zero-coupon debt issue with a maturity value of $120 and the expected return on assets of 12%. the expected return on equity, the volatility of equity
You pay Federal tax at the rate of 32%, and the MA state tax at the rate of 6.25%. It is estimated that the US T-Bill has zero risk of default, the MA municipal has a 1.8% chance of default,and the back CD has a 2.3% chance of default. The quoted yie..
Statements about the flexibility, cost and riskiness of short-term versus long term debt depend to a large extent on the type of short-term financing that is actually used. Three major types of short-term financing--accruals, accounts payable and ban..
The variable upon which the effects of the experimental treatment are observed is called the _____variable.
What is the IRR of a project with the following cash flows if the firm’s WACC is 14%? Year 0: -$18,000 Year 1: $5,000 Year 2: $7,500 Year 3: $8,400 Year 4: $2,100 A. 11.32% B. 12.11% C. 14.00% D. 15.49% E. 17.83%
The Quick Manufacturing Company, a large profitable corporation, is considering the replacement of a production machine tool. A new machine would cost $3700, have a 4- year useful and depreciable life, and have no salvage value. For tax purposes , su..
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