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1. All of the following are tax ramifications associated with the creation of a family limited partnership except:
a. Gain or loss must be recognized when property is transferred into the partnership.
b. The income tax is never paid by the partnership.
c. The value of the general partner’s interest in the family limited partnership will be included in the general partner’s estate.
d. Transfer of interests in the family limited partnership are gifts for gift tax purposes.
2. Exactly 6 years ago, Joe borrowed $300,000 at 6.0% p.a. on a 25 year mortgage with monthly payments of $1,932.90. What is the balance on Joe’s mortgage today?
A. $261,972.74
B. $262,592.67
C. $263,209.52
D. $269,795.67
Kay Mart has purchased an annuity to begin payment at the end of 2013 (the date of the first payment). Assume it is now the beginning of 2011. The annuity is for $27,000 per year and is designed to last ten years. If the discount rate for the calcula..
Frank owns 100% of the stock of Sands, Inc. (a C corporation). In a tax year, Sands, Inc. has income before tax = $1,500,000. This is after Sands paid Frank a salary = $350,000. Sands, Inc. also paid dividends = $100,000. Sands is Frank's only sou..
The following information refers to six-month call option on the stock of XYZ, Inc. What is the intrinsic value of the option? What is the option's time premium at this price?
As treasurer of your firm, you wish to establish a credit line facility to cover an expected average annual borrowing of $65 million. You hav e asked two banks to submit proposals for a credit line of $80 million. Calculate the effective cost of both..
How would you judge the potential profit of Bajaj Electronics on the first year of sales to Booth Plastics and give your views to increase the profit?
Goode Investment Bank agrees to underwrite 1,000,000 CFS Company’s shares on a best efforts basis. It then sells 800,000 shares to the public for $20 each. The agreement is that Goode will charge 1.50 per share sold. How much money does CFS receive? ..
Snyder Co. is experiencing a period of rapid growth. Earnings and dividends are expected to grow at a rate of 15% during the next 2 years, at 13% in the third year, and at a constant rate of 6% thereafter. Snyder’s last dividend was $1.15, and the re..
Discuss the issues of financial management in a non-profit organisation and compare and contrast it with financial management in a for- profit organisation.
Steve and Roslyn are retiring together today and they wish to receive $40,000 of income (in the equivalent of today's dollars) at the beginning of each year from their portfolio. They assume inflation will be 4% and they expect to realize an after ta..
Suppose you have the choice of investing in (A) a zero-coupon bond, which costs $500 today, pays no coupon during its life, compounds semi-annually, and then pays $1,000 after 10 years, or (B) a bond which costs $1,100 today, pays $45 in interest sem..
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3 years ago, Weed Go Inc. earned $1.33 per share. Its earnings this year were $2.31. What was the growth rate in earnings per share (EPS) over the 3-year period? State your answer as a percentage to two decimal places (e.g. 16.38%). The % sign is not..
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