A. Kelly is shopping for a new car. She can afford a deposit of RM 5000 and quarterly payments of RM 2000. Bank A has offered to finance a loan at 8% per year compounded quarterly for 3 years. What is the most expensive car (in RM) Kelly can afford to buy? B. A company is committed to providing equal opportunities to all its employees regardless of their gender. A workplace program has been established to remove barriers to women advancing within the company. To assess the effectiveness of this program, workforce in key positions was analyzed with the following results: Type of positions Gender Management Skilled workers

A. Kelly is shopping for a new car. She can afford a deposit of RM 5000 and quarterly payments of RM 2000. Bank A has offered to finance a loan at 8% per year compounded quarterly for 3 years. What is the most expensive car (in RM) Kelly can afford to buy? B. A company is committed to providing equal opportunities to all its employees regardless of their gender. A workplace program has been established to remove barriers to women advancing within the company. To assess the effectiveness of this program, workforce in key positions was analyzed with the following results: Type of positions Gender Management Skilled workers

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter2: Gross Income And Exclusions

Section: Chapter Questions

Problem 9MCQ

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[The following information applies to the questions displayed below.] LaMont works for a company in downtown Chicago. The company encourages employees to use public transportation (to save the environment) by providing them with transit passes at a cost of $290 per month. Problem 12-47 Part a a. If LaMont receives one pass (worth $290) each month, how much of this benefit must he include in his gross income each year? Transit pass benefit to be included in gross income
Knowledge Check Eva pays $3,000 per month to rent her house. She has a garage but is considering turning the space into a hair styling studio. She expects to earn $3,000 a month from this new business. Instead, she could sublease the garage space to a neighbor for $800 per month. As part of the terms of sublease, her neighbor will pay an additional $100 per month for utilities. All other costs are unaffected. Eva is now analyzing the costs and benefits of these alternatives. Help Eva in her analysis by identifying the following items as either a relevant cost or irrelevant cost in the decision. 1. The rent paid on the house 2. The earnings from the hair styling studio 3. The cost of home insurance 4. The cost of utilities 5. The monthly income from renting the garage
Don't use pen or paper A student leaves her job for a year to attend college. The job pays 10,000 a year. After returning to work with the extra training her wage increases by 10% and she stays employed for 10 years and wages remain unchanged. The cost of the course was 500 and the discount rate is 5%. What is the net present value of the extra income the student will warn from going to college over her lifetime?
Consider the following scenario in relation to your Notary, Loan Signing Agent and Marriage officiant practice in Hawaii and determine the opportunity cost of leaving your job to become an entrepreneur. You currently make $90,000 per year at your job plus benefits (equal to 30% of your salary). On January 1 of the New Year, you start your own business. After the first year, your accountant informs you that you made $45,000 and out of that you paid $6,000 for health insurance. What was your opportunity cost? If your opportunity cost is higher than you would like, how can you lower your opportunity cost in the future years?
Lesson: Economic Equivalence An engineer is employed in a government office. Every month an amount of ₱ 1,924.83 is deposited in an insurance system. Suppose the employee is 25 years old today, what will be accumulated on his retirement if he wishes to retire at 65? What will be his expected pension (a monthly allowance from the accumulated deposits) if the insurance company assumes all their client to live up to 100 years of age? The insurance system offers 3.6% compounded monthly.
************* LaMont works for a company in downtown Chicago. The company encourages employees to use public transportation (to save the environment) by providing them with transit passes at a cost of $283 per month. a. If LaMont receives one pass (worth $283) each month, how much of this benefit must he include in his gross income each year? Transit pass benefit to be included in gross income Show Transcribed Text b. If the company provides each employee with $283 per month in parking benefits, how much of the parking benefit must LaMont include in his gross income each year? Parking benefit to be included in gross income
Which one of the following statements is false? Group of answer choices A.Bill drives 20 each way between his home to his office – 40 miles round trip each day. During the day he drives to a client site. He drives a total of 63 miles that day. He may deduct the cost of 43 miles. B.Commuting expenses may be deductible if you are transporting tools. C.A consultant works out of her home. She may deduct the cost of driving to a client’s place of business. D.The expenses of driving between your regular job and a second job are deductible.
1. Blake is considering whether to enroll full-time in a two-year, webpage design certificate program. Enrolling in this program requires him to leave his current job and devote all of his available time to his studies. He plans to make his decision based on standard human capital analysis, and has obtained the following data to help with his decision: Direct Costs (tuition and fees in each year): $2,000 Current annual earnings (i.e., w/o the additional education): $5,000 After completing the certificate program, Blake will work 3 years and then retire (thus, this is a 5-period model: t = 0, 1, 2, 3, 4). His estimated annual earnings, post-schooling, in each year are: $11,000 Blake's discount rate is 3% Create a table with the following information (shown in columns): time period, direct costs in each period, indirect costs in each period, expected earnings with additional schooling, and incremental (net) benefits in each period (discounted by the appropriate rate). Given the data,…
Lesson: Economic Equivalence A middleclass woman wants a luxury bag so much that she is willing to pay the bag in installment as follows: On the first year she will pay ₱ 5,000.00 per month, on the second year ₱ 4,000.00 per month, and so on, until ₱ 1,000.00 per month will be paid on the fifth year and it’s finished. How much is the luxury bag if money is worth 9%?
Say a student leaves her job for a year to attend college. The job pays 20,000 a year. After returning to work with the extra training her wage increases by 20% and she stays employed for 10 years and wages remain unchanged. The cost of the course was 500 and the discount rate is 5% per year. What is the net present value of the extra income the student will earn from going to college over her lifetime? -10,000 10,387 9,456 8,765 5%
O e. OMR156.75 Clear my choice non 6 et ered Ali is a student at the University. He recently purchased a car for OMR5,000 to use it for going to the University. Ali also expects that other friends might ask for transportation from him. He expects a total monthly revenue of OMR60. He expects fuel cost to be OMR30 per month. One of Ali's friends is a taxi driver. He offered Ali to take him to University for a monthly fee of OMR10. Because he does not have to drive, Ali believes that he can perform online work ed out of g question that would earn him a monthly revenue of OMR10. What is the differential revenue in this scenario? Select one: O a. OMR20 O b. OMR40 O c. OMR10 O d. OMR30 O e. OMR50 ious page Next page 18
:= Question 2.5 Homework Answered Crane Flight Services contributes $25 a week to Helen's retirement plan starting immediately. Assuming she works for Crane for another twenty-two years and the applicable discount rate is 4 3/4%. Given these assumptions, the value of this employee benefit today is closest to: (state your answer to 2 decimal places) Type your numeric answer and submit 177547.78 Answered - Incorrect 1 attempt left X H You are incorrect Resubmit Consumer Loans There are two broad categories of loans, commercial and consumer. We'll talk about the characteristics and features of commercial loans in the chapter on fixed income and interest rates, but we'll deal with consumer loans here. Most consumer loans are known as fully-amortizing loans, or level- pay loans. This means that each payment is the same for the life of the loan and that both principal and C