Year 1Year 2Year 3Year 4Year 5Year 6Year 7Year 8Year 9Year 10Year 11Year 12Year 13Year 14Year 15Return4%5%6%7%8% 9% 10%11% 12%0.962 0.952 0.9430.9350.926 0.9170.9090.9010.8930.925 0.9070.890 0.8730.857 0.842 0.826 0.8120.7970.889 0.8640.840 0.816 0.7940.772 0.751 0.7310.7120.8550.823 0.792 0.763 0.7350.7080.683 0.6590.6360.822 0.784 0.747 0.713 0.681 0.6500.621 0.5930.5670.7900.746 0.705 0.6660.630 0.5960.5640.5350.5070.7600.711 0.665 0.623 0.5830.5470.5130.4820.4520.7310.677 0.6270.5820.540 0.502 0.4670.434 0.4040.7030.6450.5920.5440.500 0.4600.424 0.3910.3610.6760.6140.5580.5080.4630.4220.386 0.3520.3220.6500.5850.5270.4750.4290.3880.350 0.3170.2870.6250.5570.4970.4440.3970.356 0.319 0.2860.2570.601 0.5300.4690.415 0.3680.3260.290 0.2580.2290.5770.5050.4420.388 0.3400.2990.263 0.2320.2050.555 0.481 0.4170.362 0.3150.2750.239 0.2090.183 Problem 3-39 (LO 3-2, LO 3-3) (Algo)Isabel, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December she received a$50,000 bill from her accountant for consulting services related to her small business. Isabel can pay the $50,000 bill anytime beforeJanuary 30 of next year without penalty. Assume her marginal tax rate is 37 percent this year and next year, and that she can earn anafter-tax rate of return of 10 percent on her investmentsRequired:a. What is the after-tax cost if Isabel pays the $50,000 bill in December?b. What is the after-tax cost if Isabel pays the $50,000 bill in January? Use Exhibit 31.Note: Round your answer to the nearest whole dollar amount.c. Based on requirements a and b, should Isabel pay the $50,000 bill in December or January?Complete this question by entering your answers in the tabs below.Required A Required BRequired CWhat is the after-tax cost if Isabel pays the $50,000 bill in December?After-tax cost< Required ARequired B >

An after-tax cost is the cost on which the factor of the tax effect has been considered which means…

a. What is the after-tax cost if Isabel pays the $50,000 bill in December? b. What is the after-tax cost if Isabel pays the $50,000 bill in January? Use Exhibit 3.1. Note: Round your answer to the nearest whole dollar amount. c. Based on requirements a and b, should Isabel pay the $50,000 bill in December or January?

a. What is the after-tax cost if Isabel pays the $50,000 bill in December? b. What is the after-tax cost if Isabel pays the $50,000 bill in January? Use Exhibit 3.1. Note: Round your answer to the nearest whole dollar amount. c. Based on requirements a and b, should Isabel pay the $50,000 bill in December or January?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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