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During 2015, the Smiths and the Joneses both filed joint tax returns. For the tax year ended December 31, 2015, the Smiths’ taxable income was $130,000, and the Joneses had total taxable income of $65,000.
Using the federal tax rates giving in Table 1.2 for married couples filing joint returns, calculate the taxes for both the Smiths and the Joneses.
Calculate and compare the ratio of the Smiths’ to the Joneses’ taxable income and the ratio of the Smiths’ to the Joneses’ taxes. What does this demonstrate about the federal income tax structure?
Which of the following is not an adjustment for individuals? Alternative minimum tax (AMT) traps can be all of the following except: Which of the following statements regarding alternative minimum taxable (AMT) and private activity bonds is correct? ..
Uptown Insurance offers an annuity due with semi-annual payments for 25 years at 6 percent interest. The annuity costs $200,000 today. What is the amount of each annuity payment?
What is the future value of $950 paid on the last day of each 6 months for 12 years assuming an interest rate of 11 percent compounded semiannually - What is the current market price of these bonds?
The stock of Big Joe's has a beta of 1.54 and an expected return of 12.80 percent. The risk-free rate of return is 5.3 percent. What is the expected return on the market? The Bet-r-Bilt Company has a 5-year bond outstanding with a 4.60 percent coupon..
Mideque, Inc., is considering a project to produce pens. It is estimated that the initial cost of the equipment, including transportation, installation, and so forth, will be $24,000. Mideque also estimates that the revenues (sales) each year over th..
A firm has sales of $173,000, total assets of 160,000, net income of $15,000, and dividends paid of $3,000. What is the internal growth rate?
ABC Corporation is evaluating a new promotional campaign that could increase home sales.Possible outcomes and probabilities of the outcomes are shown next. What is the expected value of additional sales in units? What is the standard deviation of add..
Logan and Johnathan exchange land, and the exchange qualifies as like kind under § 1031. Because Logan's land (adjusted basis of $85,000) is worth $100,000 and Johnathan's land has a fair market value of $80,000, Johnathan also gives Logan cash of $2..
You have just taken out an installment loan of $1,000. Assume that the loan will be repaid in three equal annual payments with the first payment due one year from today. Work out the amortization schedule of the loan, given 6% as the interest rate ch..
Calculate the difference between the future value of the following investment using annual and daily compounding: (a) Present Value: $20,000, (b) Interest Rate: 6%, and (c) Number of Periods: 30 Years.
What does this tell you about Callaway's ability to pay its interest expense? Callaway's operating income can fall as much as ______ times the interest expense and the company would still be able to service its debt. The firm's return on equity is th..
Change in net working capital should always be positive. Free cash flow can never be negative. A negative cash flow to creditors indicates you must have paid off debt during the period. A negative cash flow to shareholders indicates you must have iss..
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