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Question 1. County Ranch Insurance Company wants to offer a guaranteed annuity in units of $500, payable at the end of each year for 25 years. The company has a strong investment record and can consistently earn 7% on its investments after taxes. If the company wants to make 1% on this contract, what price should it set on it? Use 6% as the discount rate. Assume that it is an ordinary annuity and the price is the same as present value.
Question 2. A local government is about to run a lottery but does not want to be involved in the payoff if a winner picks an annuity payoff. The government contracts with a trust to pay the lump-sum payout to the trust and have the trust (probably a local bank) pay the annual payments. The first winner of the lottery chooses the annuity and will receive $150,000 a year for the next 25 years. The local government will give the trust $2,000,000 to pay for this annuity. What investment rate must the trust earn to break even on this arrangement?
Determine the cost of goods sold and gross profit amounts Dorado should record for the three months ending September 30
Information about the Maxwell Company's inventory of one item during 2013 is given below. Units Unit cost Beg Inv 80 $24 Pur: Mar 45 24 Jul 75 22 Nov 100 21 End Inv 55 Compute the cost of the ending inventory and cost of goods sold under each of the ..
The land had a basis to Tea Company of $647,500. What amount of gain does Red Blossom recognize in the exchange and what is its basis in the land it receives?
Explain the company's existing policy regarding dividends and/or share repurchases Has the policy changed considerably over time?
Hip Duds Company is considering the purchase of new machines on January 1, 2015. Trail Power has been using the same machines to make its name brand clothing for the last five years. A cost efficiency consultant has suggested that production costs ma..
Apple Computer, Inc. wants customers to believe that its Apple computers can be used as digital entertainment centres.
Jimenez debited Prepaid Insurance for $2,400. If Jimenez prepares financial statements at the end of March, the adjusting journal entry would include a
how your recommendations can be implemented and what results you can expect. Prepare forecasted ratios and projected financial statements, with a timetable
They incurred $4000 in unreimbursed doctor and lab fees for the visit.If Sam’s AGI is $35,000, what amount can he deduct for medical expenses on Schedule A
Write up a two-column cash book for a bedroom furniture shop from the following details, and balance it off as at the end of the month:
Determine the size of the replacement payment if interest is 8.9?% compounded quarterly and the focal date is one year from now.
What was Wallace's total long-term debt in 2016? At year-end 2016, Wallace Landscaping's total assets were $1.5 million, and its accounts payable
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