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- Eagle Life Insurance Company pays its employees 0.30 per mile for driving their personal automobiles to and from work. The company reimburses each employee who rides the bus 100 a month for the cost of a pass. Tom collected 100 for his automobile mileage, and Mason received 100 as reimbursement for the cost of a bus pass. a. What are the effects of the above on Toms and Masons gross income? b. Assume that Tom and Mason are in the 24% marginal tax bracket and the actual before-tax cost for Tom to drive to and from work is 0.30 per mile. What are Toms and Masons after-tax costs of commuting to and from work?Sue Smith owns a 300 unit tax credit property. She received a total credit allocation covering 200 of her units and committed to the 20% @ 50% minimum set aside. To earn the maximum possible tax credit, how many units should Sue rent to residents with income no greater than 50% of the area median? O A. 60 units B. 100 units c. 200 units D. 300 units1.Link wants to make $100,000 after tax on his new venture into selling pizza-on-a-stick, using a "push along" cart at the beach. For each pizza-on-a-stick, he incurs raw material costs of $5 and sells them for $10. He pays a salary to his friend Zelda, who operates the cart for $50,000. If he buys the cart himself, he will incur fixed expenses of $20,000. Or, he can rent the cart and pay $1 to the cart supplier each time he sells a pizza stick. What is his point of indifference? That is, at what volume of pizza sticks is he indifferent about renting or buying the cart? (Insert a number ONLY) 2. Like Link, Chrom sells pizza-on-a-stick at the beach. But Chrom also sells dogs-in-a-pocket, which are hot dogs you can carry with you that have enough preservatives to survive in your pocket for years. For each pizza-on-a-stick, Chrom incurs raw material costs of $5 and sells them for $10. He incurs material costs of $3 for the dogs and sells them for $5. He sells 3 times as many dogs as he…
- Jaime purchased a sewing machine. After 8% sales tax, she paid $139.32. What equation can be used to find the pre-tax price of the sewing machine? p+ 0.08p = 139.32, where p is the pre-tax price of the machine. p – 0.08p = 139.32, where p is the pre-tax price of the machine. p – 0.08 = 139.32, where p is the pre-tax price of the machine. p+ 0.08 = 139.32, where p is the pre-tax price of the machine.1. Mary and Sue both work for WAWA. They both make $50,000 and they also each have $1000 a year in health care expenses. Mary deposits $1000 a year into a dependent care flexible spending account while Sue does not. They both have a tax rate of 15%. How much does Mary save vs. Sue in a given year?After becoming a commercial pilot, Lorna Kao decides to purchase a Cessna 182 for $64,835. Assuming the sales tax is 5.9% of the purchase price, find each of the following. (a) What is the total cost, including sales tax?$ (b) If Lorna makes a down payment of 24% of the total cost, find the down payment.$ (c) Assuming Lorna finances the remaining cost at an annual interest rate of 7.25% for 10 years, find the monthly payment.$
- 7. The market value of Christine and Gene's home is $275,000. The assessed value is $230,000. The annual property tax rate is $17.50 per $1,000 of assessed value. a. What is the property tax on their home? b. How much do they pay monthly toward property taxes? Round your answer to the nearest cent.1. Maria is the owner and operator of a small local bakery that has annual sales revenue of $200,000. The annual salary expense paid to Maria's employees is $50,000. The cost of supplies used during the year totals $50,000. The amount paid for the annual rent for the building and utilities is $30,000. Maria used $100,000 of her personal savings to purchase equipment for the shop. Maria could have earned a 10% interest rate on this $100,000 if it had been left in the bank. Maria has rerently been offered a job to work full-time as a pastry chef for $65,000 at a restaurant in town.. 1. Calculate the accounting profit for this business. 2. Calculate the economic profit for this business. 3. Explain whether Maria should continue to own and operate the bakery or whether she should accept the job at the restaurant.Brittany purchased an industrial lot in Sudbury for $1,100,000 and it was assessed at 65% of its purchase price. The annual property tax on the lot is 25 mills. a. Calculate the assessed value of the lot. Round to the nearest cent b. Calculate the property tax she would have to pay every year. Round to the nearest cent
- Aldo Redondo drives his own car on company business. His employer reimburses him for such travel at the rate of 36 cents per mile. Aldo estimates that his i xed costs per year such as taxes, insurance, and depreciation are $2,052. The direct or variable costs such as gas, oil, and maintenance average about 14.4 cents per mile. How many miles must he drive to break even?A homeowner is considering whether to invest in solar panels. This home owner has gathered the following information for her town: • she currently pays her energy supplier an average of $0.124/unit for her electricity.with the panels, she no longer have to pay this • The government subsidizes 70% of whatever is invested by the household. • Each square foot of panel produces 28.28 units of electricity every year. • The cost of installation per square foot of solar panel is $98.00 The house has 350 square feet of roof space. What is the breakeven point in years for the installation of solar panels? Assume the homeowner’s interest rate is 6% per year.Carolyn is building a pen for her dog. The perimeter of the pen is 72 ft. The fencing material is sold by the yard. It costs $11.10 /yd. What is the cost of the material before taxes? $ G
