Can you please answer this accounting question do fast? Frank has personal assets worth $250,000 withoutstanding mortgage of $75,000. What is the equity ratiofor Frank's personal assets?a. 40%b. 70%c. 66%d. 55%

Step 1: Define Equity RatioThe equity ratio compared the total stockholder's equity amount with the…

Answered: Frank has personal assets worth…

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter10: Deductions And Losses: Certain Itemized Deductions

Section: Chapter Questions

Problem 31P

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Frank has personal assets worth $250,000 with outstanding mortgage of $75,000. What is the equity ratio for Frank's personal assets? a. 40% b. 70% c. 66% d. 55%