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Bernadette, a longtime client of yours, is an architect and the president of the local Rotary chapter. To keep up to date with the latest developments in her profession, she attends continuing education seminars offered by the architecture school at State University. During 2014, Bernadette spends $2,000 on course tuition to attend such seminars. She also spends another $400 on architecture books during the year. Bernadette’s son is a senior majoring in engineering at the University of the Midwest. During the 2014 calendar year, Bernadette’s son incurs the following expenses: $8,200 for tuition ($4,100 per semester) and $750 for books and course materials. Bernadette’s son, whom she claims as a dependent, lives at home while attending school full-time. Bernadette is married, files a joint return, and has a combined AGI with her husband of $110,000. a. Calculate Bernadette’s education tax credit for 2014
1. Determine the 1) American opportunity credit, and 2) lifetime learning credit.
2. Determine the 1) nonrefundable and 2) refundable education tax credit.
Robert wants to withdraw $100,000 a year for 30 years after he retires. He will probably work for 30 years and earn 7 interest during the whole time. How much does Robert have to contribute to her pension fund each year so she can retire on $100,000 ..
A bond that matures in 17 years has a $1,000 par value. The annual coupon interest rate is 9 percent and the market's required yield to maturity on a comparable-risk bond is 12 percent. What would be the value of this bond if it paid interest annuall..
A project has an initial cost of $100,00. The project has an estimated cost of capital of 10%. Calculate project's NPV, IRR, and payback period.
Nicole's Neon Signs, Inc. reported a debt to equity ratio of 1.9 times at the end of 2013. If the firm's total assets at year-end are $100 million, how much of their assets is financed with equity?
A call option is currently selling for $6.40. It has a strike price of $55 and six months to maturity. A put option with the same strike price sells for $7.40. The risk-free rate is 5.3 percent, and the stock will pay a dividend of $2.70 in three mon..
Which of the following is true? a. In industries with volatile earnings, the residual dividend policy results in the most consistent dividend stream. b. If the clientele effect is correct, firms should follow a constant dividend payout ratio policy. ..
Which of the following statements about bonds is true? Bond prices move in the same direction as market interest rates. If market interest rates change, long-term bonds will fluctuate more in value than short-term bonds. Long-term bonds are less risk..
Calculating Average Returns (LO1, CFA1) The rate of return on Cherry Jalopies, Inc., stock over the last five years was 17 percent, 11 percent, -2 percent, 3 percent, and 14 percent. Over the same period, the return on Straw Construction Company’s st..
You are considering a 30-year, $1,000 par value bond. Its coupon rate is 8%, and interest is paid semiannually. If you require an "effective" annual interest rate.
HCC, Inc., is experiencing rapid growth. The company expects dividends to grow at 25 percent per year for the next seven years before leveling off to 7 percent into perpetuity. The required return on the stock is 11 percent. What is the current stock..
Ethier Enterprise has an unlevered beta of 1.15. Ethier is financed with 40% debt and has a levered beta of 1.65. If the risk free rate is 6.5% and the market risk premium is 5%, how much is the additional premium that Ethier's shareholders require t..
You own a bond with the following features: 7 years to maturity, face value of $1000, coupon rate of 2% (annual coupons) and yield to maturity of 5.1%. If you expect the yield to maturity to remain at 5.1%, what do you expect the price of the bond to..
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