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Reynaldo and Sonya, a married couple, had flood damage in their home due to a faulty water heater during 2016, which totally ruined the furniture that was stored in their garage. The following items were completely destroyed and not salvageable. Damaged Items Fair Market Value Just Prior to Damage Original Item Cost (Basis) Antique poster bed $ 8,600 $ 6,300 Pool table 8,625 14,575 Flat screen TV 1,350 4,775 Their homeowner's insurance policy had a $11,755 deductible for the personal property, which was deducted from their insurance reimbursement of $16,275, resulting in a net payment of $4,520. Their AGI for 2016 was $38,000. What is the amount of casualty loss that Reynaldo and Sonya can claim on their joint return for 2016?
Casualty loss deduction = ?
JJ Industries will pay a regular dividend of $1.70 per share for each of the next four years. At the end of four years, the company will also pay out a liquidating dividend. If the discount rate is 12 percent, and the current share price is $62, what..
We use no arbitrage to calculate implied forward rates from the spot curve. What does mean when we say that implied forward rates are breakeven rates? What do we use implied forward rates for? Are expectations of future interest rates the only factor..
Compute the Macaulay duration of a ten-year 6% $1,000 bond having annual coupons and a redemption of $1,200 if the yield to maturity is 8%.
You plan to purchase a house for $115,000 using a 30-year mortgage from your local bank. Your bank offers you the following two options for payment:
What would be the present value of a yearly annuity of $105 per year for 10 years if the appropriate rate of interest is 4.5% per year and the first payment starts one year from today?
A biotechnology firm is growing at a compount rate of more than 21 percent a year. The stock of this company is priced about 65 times next year earnings. is it a growth company or a growth stock?
Kevin hams plans to borrow 8000 for five years. The loan will be repaid with a single payment after five years, and the interest on the loan will be computed using the simple interest method at an annual rate of 6 percent. How much will Kevin have to..
Operating leverage means financing a portion of a firm's earnings per share with debt. An increase in financial leverage will increase the absolute value of EPS, everything else equal. Break-even analysis ignores fixed costs because fixed costs do no..
What is the number of DM/$? What is the dollar value of the deutsche mark? - What is the equilibrium forward rate for the deutsche mark expressed as 8/DM?
Future value with periodic rates. Matt Johnson delivers newspapers and is putting away ?$35 at the end of each quarter from his paper route collections. Matt is 11 years old and will use the money when he goes to college in 7 years. What will be the ..
Zhdanov Inc. forecasts that its free cash flow in the coming year, i.e., at t = 1, will be -$10 million, but its FCF at t = 2 will be $20 million. After Year 2, FCF is expected to grow at a constant rate of 4% forever. If the weighted average cost of..
Brighton Corp. bought an oil rig exactly 6 years ago for $109,000,000. Brighton depreciates oil rigs straight line over 10 years assuming no salvage value. The rig was just sold to British Petroleum for $34,000,000. What Capital Gain/Loss will Bright..
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