Kristina Karganova invites 16 relatives to a party: her mother, 3 aunts,4 uncles, 3 brothers, 1 male cousin, and 4female cousins. If the chances of any one guest arriving first are equally likely, find the probabilities that the first guest to arrive is as follows. (a) A brother or an uncle (b) A brother or a cousin (c) A brother or her mother
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female cousins. If the chances of any one guest arriving first are equally likely, find the probabilities that the first guest to arrive is as follows.
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- Kristina Karganova invites 14 relatives to a party: her mother, 3 aunts, 2 uncles, 2 brothers, 1 male cousin, and 5 female cousins. If the chances of any one guest arriving first are equally likely, find the probabilities that the first guest to arrive is as follows. (a) A brother or an uncle (b) A brother or a cousin (c) A brother or her motherSolve through IRAC (ISSUE, Rules, Analysis, Conclusion) method. Samuel Finley has two children, a daughter Lee and a son Keaton. Samuel has a lovely beach house in Palm Beach. Sam is terminally ill and has been told by his doctors that he has less than a year to live. Lee knows that Keaton is their father’s favourite child and that he had been named in the latter’s will to inherit the beach house. Lee knew that since their father did not have long to live and that he was 90 years old and starting to become mentally-weak, she could pressure him to transfer the Palm Beach beach house over to her even though Samuel may not totally understand what he was signing over. So, for four months, using pressure and threats, but more often with gentle but devious tactics, Lee succeeds in convincing Samuel to sign a transfer of property transferring the Palm Beach beach house over to her. As his last act, before he dies, Samuel wants to set aside the transfer of the beach house to Lee. Advise…You are a dual-income, no-kids family. You and your spouse have the following debts: Mortgage = $261,000; Auto loan = $10,000; Credit card balance = $2,150; and other debts = $6,200. Further, you estimate that your funeral will cost $9,000. Your spouse expects to continue to work after your death. Using the DINK method, what should be your need for life insurance? Total insurance need $ 288,350
- Ashley Panda lives at 1310 Meadow Lane, Wayne, OH 43466, and her Social Security number is 123-45-6777. Ashley is single and has a 20-year-old son, Bill. His Social Security number is 111-11-1112. Bill lives with Ashley, and she fully supports him. Bill spent 2022 traveling in Europe and was not a college student. He had gross income of $4,655 in 2022. Bill paid $4,000 of lodging expenses that Ashley reimbursed after they were fully documented. Ashley paid the $4,000 to Bill using a check from her sole proprietorship. That amount is not included in the items listed below. Ashley had substantial health problems during 2022, and many of her expenses were not reimbursed by her health insurance. Ashley owns Panda Enterprises, LLC (98-7654321), a data processing service that she reports as a sole proprietorship. Her business is located at 456 Hill Street, Wayne, OH 43466. The business activity code is 514210. Her 2022 Form 1040, Schedule C for Panda Enterprises shows revenues of $315,000,…Here is the word problem that I attempted: Jamie Lee and Ross were stunned to find that their family of two has grown to a family of five! They were expecting twins, but when the babies were born, they discovered that they were actually the parents of triplets! Ross immediately had worries of being able to provide for the growing family: diapers, formula, college expenses times three! What if something happened to him or Jamie Lee? How would the surviving parent be able to provide for such a large family? Jamie Lee and Ross decided to purchase life insurance for Ross because his is the higher income at this time and because it would be more devastating if his income was lost due to his death. They have allowed $9,600 for funeral costs. Calculate their living expenses for 6 months to include all monthly expenses, excluding credit card debt and entertainment. Note that Ross's mother lives close and will be providing childcare to their triplets once Jamie Lee goes back to work at the…Carey and Pat were good friends and neighbors in an upscale neighborhood near several highly rated golf courses in Arizona. During the winter, both Carey and Pat decided to rent their homes (at a premium) to groups of golfers from the New York area who wanted to get out of the snow and enjoy sunshine and golf for a couple of weeks during the winter. While their homes were rented, Carey and Pat vacationed together in Cancun. In January 2020, Carey rented his home for 14 days and received $14,000 in rent. Pat also rented his home for the same 14 days and received $16,000 in rent. Near the end of the 14-day rental period, Pat got a call from the renters, who wanted to extend their stay for one day. Pat agreed to the extension and charged the group $2,000 for the extra day. When preparing his 2020 tax return, Pat discovered that taxpayers who rent their home for more than 14 days are required to report all of their rental income on their tax returns. Pat didn’t think it was fair that he…
- Krista and Landor are new parents. They have a two-month-old baby girl and they are considering expanding their family in the future. They have purchased life insurance with a child coverage rider in the amount of $5,000. Unfortunately, their baby girl becomes gravely ill and passes away. How will the insurer deal with their death claim relating to the child coverage rider? Select one: a. b. The insurer will pay the claim for the full amount. The insurer will pay a claim for only half of the full amount to keep the child coverage rider in force for the next child. c. The insurer will deny the claim as Krista and Landon did not purchase accidental death insurance for theirSusan and Derick finalized an adoption in 2020. Their adoption fees totaled $10,000. They have AGI of $238,520 for 2020. What is their adoption credit? a. $4,000 b. $10,000 c. $7,263 d. $14,300Spouses Robert and Yollie wanted to sell their house. They found a prospective buyer, Nina. Yollie negotiated with Nina for the sale of the property. They agreed on a fair price of P2 Million. Nina sent Yollie a letter confirming her intention to buy the property. Later, another couple, Marius and Ellen, offered a similar house at a lower price of P1.5 Million. But Nina insisted on buying the house of Robert and Yollie for sentimental reasons. Nina prepared a deed of sale to be signed by the couple and a manager’s check for P2 Million. After receiving the P2 Million, Robert signed the deed of sale. However, Yollie was not able to sign it because she was saying she changed her mind. Yollie filed suit for nullification of the deed of sale and for moral and exemplary damages against Nina. Does Nina have any cause of action against Robert and Yollie?
- The three brathers inherited the money from their late father. The youngest and middle son decided to put their money in the bank, The eldest son also considered the possibility of other ways of investing, such as in precious metals, securities or buying an investment apartment. He considered these options in the context of the future economic situation (improvement, no change, deterioration, decline) and percentage returns from individual investment options. He described the decision problem using the following table with estimates of the size of revenues. Use the EMV criteria to determine the most appropriate way to invest your eldest son. Preferences 0.052 0.2 0.056 0.692 Improvement no change deterioration decline precious metals 16.375 16 15.625 14.875 securities 10 10 8.25 0 investment apartment 6.75 1.75 1 1 Now write what is the best expected return (EMV)?Timmy and Tammy live in Dallas. On a whim, they flew to Vegas on New Year’s Eve 2019 and got married by “Elvis” at the Little White Wedding Chapel on the Strip (legal in Nevada!). The thing is, by the time Elvis did the deed, it was 11:45 (15 minutes to midnight) in Vegas. But Texas is in an earlier time zone, so we stay-at-homes were well into 2020 by the time Elvis, 1,200 miles to the west, finished with Timmy and Tammy’s quickie marriage. Can Timmy and Tammy file a joint return for 2019? Or, because it was already 2020 here in their state of residency by the time they wed, do they have to wait to file jointly until their 2020 return? What’s your advice to them, and why?Dave and Anna live in Dallas. On a whim, they flew to Vegas on New Year’s Eve 2019 and got married by “Elvis” at the Little White Wedding Chapel on the Strip (legal in Nevada!). The thing is, by the time Elvis did the deed, it was 11:45 (15 minutes to midnight) in Vegas. But Texas is in an earlier time zone, so we stay-at-homes were well into 2020 by the time Elvis, 1,200 miles to the west, finished with Dave and Anna quickie marriage. Can Dave and Anna file a joint return for 2019? Or, because it was already 2020 here in their state of residency by the time they wed, do they have to wait to file jointly until their 2020 return? What’s your advice to them, and why?

