General Accounting If Lucy earns a 6% after-tax rate of return, $19,000received in four years is worth how much today?a. $15,048.b. $17,884.c. $19,000.d. $20,649.e. None of the choices are correct.

To calculate the present value step by step: Step 1: Write the formulaThe formula for present value…

Answered: If Lucy earns a 6% after-tax rate of…

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter12: Tax Administration And Tax Planning

Section: Chapter Questions

Problem 22MCQ: Melodie's taxable income is $39,000 and she pays income tax of $4,489. If Melodie's taxable income...

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B. Barney and Alyson agree on the price calculated above. Ignoring tax and any other expenses, what is the effective annual return that Alyson has made on her investment? Recall that she has received 2 payments of $37 and the sale price. Give your answer as a percentage to 4 decimal places.
Kindly help me of this question answer general Accounting
LO.4 A taxpayer, age 64, purchases an annuity from an insurance company for $50,000. She is to receive $300 per month for life. Her life expectancy is 20.8 years from the annuity starting date. Assuming that she receives $3,600 this year, what is the exclusion percentage, and how much is included in her gross income? Round the exclusion percentage to two decimal places. Round the final answer for the income to the nearest dollar.
Melodie's taxable income is $39,000 and she pays income tax of $4,489. If Melodie's taxable income increases to $41,000, she would pay income taxes of $4,884. What is Melodie's marginal tax rate? 19.75 22.00 18.50 12.00 Some other amount
Mena has year-to-date (YTD) earnings of $125,200. If her next paycheck put her above the wage base limit of $128,400, what will be the amount of the social security deduction at 6.2 %? a. $788.76 b. $128.20 c. $198.40 d. $204.60
Annalise will deposit into her investment account $4,500, $1,000, and $5,500 at the end of Years 1, 2, and 3, respectively. What will her account be worth at the end of the Year 3 if she earns an annual rate of 6.15 percent? O $11,632.02 O $10,381.25 O $9,725.12 O $11,526.50 None of these answers are correct
2. Catherine receives $12,000 from Linda and repays it by paying $5,000 at the end of 2 years and $10000 at the end of 4 years. Compute the rate of return. (A) 6.9895 (B) 7.9895 (C) 8.9895 (B) (C) (D) (三) (D) 9.9895 (E) None of the above
6. Adrianna wants to provide retirement income for her dependent parents for 23 years should she die. Adriana earns $67,500 and feels that her parents could live on 70% of that amount. If the insurance funds could be invested at 5.5%, how much life insurance does Adrianna purchase using the desired income method? O $714,666.67 $618,666.67 $859,090.91 $1,546,667.84
Q2Jenny's adjusted gross income (AGI) is $120,000 a year and she owns a real estate property that generates a rental income of $10,000 annually. If she pays a mortgage interest of $4,000 on her property per year, she can write off up to _ in depreciation. $4,000 $14,000 $6,000 $8,000 $10,000
Elaine Romberg prepares her own income tax return each year. A tax preparer would charge her $60 for this service. Over a period of 12 years, how much does Elaine gain from preparing her own tax return? Assume she can earn 5 percent on her savings. Use Exhibit 1- B. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Answer is complete but not entirely correct. Future value of total gain $1,002.78
Education Tax Credits (LO 7.5) Janie graduates from high school in 2022 and enrolls in college in the fall. Her parents (who file a joint return) pay $4,600 for her tuition and fees. If required, round your computations to the nearest whole value. a. Assuming Janie's parents have AGI of $172,200, what is the American Opportunity tax credit they can claim for Janie?
Five years ago, Teresa purchased an investment property for $189,795. He sold it today for $249,999. Based on this information, what was her annualized rate of return? 5.66% 7.59% 6.18% 5.75%

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If Lucy earns a 6% after-tax rate of return, $19,000 received in four years is worth how much today? a. $15,048. b. $17,884. c. $19,000. d. $20,649. e. None of the choices are correct.