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In each of the following cases, determine the amount incudible in David's gross estate:
a. An account balance of $200,000 in an IRA that the beneficiary immediately withdrew.
b. A commercial annuity with a present value of $60,000, payable to David's wife, Selma, who contributed 40 percent of the purchase price.
c. A qualified pension annuity with a present value of $180,000, one-third of which is attributable to David's own contributions, payble to Selma.
d. A lump-sum distribution from a qualified profit-sharing plan of $30,000 payable to David's son, Kyle, who used five-year averaging.
At the end of the first year of operations, the balance sheet of Midwood Medical Supply showed the following account balances: Accounts Receivable, $4,900; Accounts Payable, $5,900; Inventory, $2,900; and Unexpired Insurance, $1,900. The corporation ..
It is often desirable to keep life insurance death proceeds out of the insured’s estate for tax reasons. Which of the following describe(s) a necessary condition for keeping the proceeds out of the insured’s gross estate?
Stock Q will return 18% in a boom and 9% in a normal economy. Stock R will return 9% in a boom and 5% in a normal economy. There is a 75% probability the economy will be normal. What is the standard deviation of a portfolio that is invested 40% in st..
Why is the coefficient of variation a better risk measure to use than the standard deviation when evaluating the risk of capital budgeting projects?
A bond is sold for its face value of $1,000 with a 25-year maturity, a 9% coupon, and interest paid semiannually. The bond is callable 5 years from issuance at an 11% premium over face value. What is the bond's yield to call today if investors expect..
BSW Corporation has a bond issue outstanding with an annual coupon rate of 8 percent paid quarterly and four years remaining until maturity. The par value of the bond is $1,000. Determine the fair present value of the bond if market conditions justif..
CSL is a chain of computer service stores. At the beginning of January, 50 skilled technicians work for CSL. Each skilled technician can work up to 160 hours per month. To meet future demands, new technicians must be trained. It takes 1 month to trai..
Calculate the Present Value of cash inflows. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Is the factory a good investment? Yes or No?
Dennis wants to determine if the discount rate really makes any difference in the net present value of a project. He feels that if a project is acceptable on one rate of return, it will be acceptable at all rates of return. To explain why his thinkin..
Night Shades, Inc. ( NSI), manufactures biotech sunglasses. The variable materials cost is $ 10.48 per unit, and the variable labor cost is $ 6.89 per unit. What is the variable cost per unit? Suppose NSI incurs fixed costs of $ 870,000 during a year..
Which one of the following is a speculative motive for holding cash? Southern Mills sells handmade cotton goods to national retail chains, to regional wholesale firms, and to small specialty shops. You would expect Southern Mills to: A windshield is ..
Mr. Miser loans money at an annual rate of 19 percent. Interest is compounded daily. What is the actual rate Mr. Miser is charging on his loans? 20.98 percent 20.92 percent 21.18 percent 20.68 percent 20.54 percent
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