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A family currently live in an apartment whose monthly rent is $1050. They are thinking of buying a house which would cost $250,000. They plan to live in this house for 5 years and sell it at the end of the 5th year. They would put a downpayment of $25,000 and finance the balance through a mortgage at 3% interest rate. The mortgage is to be repaid in 5 annual installments (which include both principal and interest) at the end of each year for the next 5 years The house will have the following additional expenses: annual maintenance: $1500; Property taxes:$5500; Insurance: $1200. Assume they are in tax bracket of 20% and the price of home, rent and expenditure increases by 2% per year. Their opportunity cost or required rate of return is 5% per year. Note that property taxes are tax deductible and there no tax payable on capital gains. Use annual compounding for amortization schedule of mortgage.
Problem 1: Calculate the Post tax Mortgage Cost (principal repayment plus after tax interest cost) for year 2.
Option 1: $48,296Option 2: $43,295Option 3: $48,034Option 4: $48,566
Question # 1: Zellars, Inc. is considering two mutually exclusive projects, A and B. Project A costs $75,000 and is expected to generate $48,000 in year one and $45,000 in year two. Project B costs $80,000 and is expected to generate $34,000 in yea..
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235 units at $116 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's gross profit using FIFO?
Prior to recording the following, Elite Electronics, Inc. had a credit balance of $1,200 in its Allowance for Doubtful Accounts. Prepare journal entries for each transaction.
compute the predetermined overhead rate under the current method.carroll company manufactures two products product drt
Carla Vista Co. had a beginning balance in accounts receivable of $69,280 and an ending balance of $83,720. Credit sales during the period were $587,340. Determine cash collections.
Calculate the given on your financial calculator. Show your financial calculator inputs. Use of tables is not acceptable. All rates are expressed as an annual
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