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For calendar year 2004, the Johnsons are eligible to claim a standard deduction of $9,700 on their income taxes. Alternatively, they may itemize deductions. Their eligible deductions are $600 of charitable contributions, $6,643 of property taxes, and interest on their mortgage. Their mortgage is a standard fifteen-year amortisized loan with a nominal monthly interest rate of 5.85%, and the amount financed was $216,000. The loan was initiated on April 1 of calendar-year N. Explain to the Johnsons how small N must be so that they would pay less income tax by taking the standard deduction. That is, explain to the Johnsons when the $9,700 standard deduction is lower than their total itemized deductions? Note that the Johnsons are highly educated people who would appreciate a carefully written explanation of this tax issue.
Determine the amount of funds released by the lockbox arrangement.- The annual (pretax) earnings on the released funds.
Airlux Antarctica has current assets of $430 million, current liabilities of $330 million and a cash ratio of 0.18. How much cash and marketable securities does it hold?
There are several accepted methods of determining the monetary advantage of one investment opportunity over another: The payback method; zero discount rate; net present value; internal rate of return; modified internal rate of return; etc. Discuss on..
The Garraty Company has two bond issues outstanding. Both bonds pay $100 annual interest plus $1000 at maturity. Bond L has a maturity of 15 years, and Bond S has maturity of 1 year. a. What will be the value of each of these bonds when the going rat..
Participate in a discussion with your classmates regarding how monetary policies affect our lives. Utilizing the knowledge that you have accumulated during our course, and by reading or watching the current news, determine the monetary policy issues ..
List and explain the appropriate financial ratios to analyze the financial performance (profitability) of Asia Paper Bag Sdn Bhd (Malay equivalent of incorporated).
Compute the maximum change in total deposits that would result if deposits at financial institutions were immediately increased by $120 billion and the reserve requirement applicable to all deposits was 5%, 10% 50% 100%
Suppose a financial intermediary is managing a traditional pension fund for a client. The client expects to pay an employee $500 at the beginning of each month for thirty years of their retirement. If the financial institution is able to average 6% r..
On January 2, 2009, Ms. Brown paid $18,000 for 900 shares of common stock in AAA Company. Ms. Brown received an $.80 per share dividend on the stock at the end of each year for 4 years. At the end of 4 years she sold the stock for $22,500. Ms. Brown ..
Orca, Inc. announced today that it will begin paying annual dividends. The first dividend will be paid next year in the amount of $1.2 a share. The following dividends will be $1.04, $1.11, and $2.51 a share annually for the following three years, re..
What is the price of a zero-coupon bond with a face value of $1,000,
Compare the problem of estimating stock cash flows to estimating bond cash flows. Which security would you predict to be more volatile?
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