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You are the accountant for the Millenium Corporation. Last year the company purchased a $2,500,000 coporate jet to be used for executive travel. To help offset the cost of the airplane, your company occasionally rents the jet to the executives of two other corporations when it is not in use by Millenium.
When the coporate tax return was filed this year, you began depreciating the jet by using MACRS. Today you received a letter from the IRS informing you that because your company occasionally rents the airplane to others, it is considered a commercial aircraft and must be depreciated as such. The corporate lawyers are considering disputing this IRS ruling and have asked you the following questions:
a.) How much depreciation did you claim this year?
b.) Under the new category, how much depreciation would be claim?
c.) If the company pays 30% income tax, what effect will this change have on the amount of tax owed, assuming the company made a net profit this year?
Indicate at which point flat-of-the-curve medicine is experienced in the following example (imagine that antibiotics have been prescribed for a given population of 1,000 elderly persons). (Jacobs 31) Jacobs, P.. The Economics of Health and Medical..
A open economy has a marginal propensity to import equal to .2 and a marginal propensity to consume equal to .7. Determine propensity to save of this economy?
Audio engineer quit job & gave up salary of $175,000 per year to start own business. Partial income statement listed below:
Consider the decision to purchase either a 5-year corporate bond or a 5-year municipal bond. The corporate bond is a 12% annual coupon bond with a par value of $1,000. It is currently yielding 11.5%.
suppose that in one year household consumption falls by $20 billion(compared to the year before), but business firms continue to produce consumer goods at an unchanged rate. if there is no other change affecting real GDP that year
Why might you expect to see flat royalty payments in home-based franchises but revenue-based royalties in franchises that operate from commercial buildings HINT: Among the most popular home-based franchises are cleaning services offered to business..
Suppose that the one year U.S. interest rate is 5%. If the one year forward rate against the pound is $1.75 per pound and the spot exchange rate is $1.78 per pound, what must the equivalent British interest rate be if covered interest parity holds?
What do monetarists think are the short-term effects and the long-term effects of using discretionary monetary policy to smooth out economic fluctuations caused by the business cycle? What is their advice for controlling the money supply?
A company operates plants in both the united states(where capital is relatively cheap and labor is relatively expensive) and Mexico(where labor is relatiely cheap and capital is relatively expensive). A. Why is it unlikely that the cost-minimizing ..
For an unknown reason, aliens kidnapped all immigrants residing in the US. One morning America wakes up and finds that the only people left in the country are American citizens, while all legal and illegal immigrants are gone.
Compute the expected utility of each project and identify the preferred project according to this criterion.
Illustrate what will be the percent change in hotdog sales if the price of hamburgers goes up by 10%.
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