Robert Sampson owns a townhouse valued at $191,000 and still has an unpaid mortgage of $156,000. In addition to his mortgage, he has the following liabilities: Visa MasterCard Discover card Education loan Personal bank loan Auto loan Total $ 785 440 585 3,100 500 5,500 $ 10,910 Robert's net worth (not including his home) is about $45,000. This equity is in mutual funds, an automobile, a coin collection, furniture, and other personal property. a. What is Robert's debt-to-equity ratio? (Round your answer to 2 decimal places.) Debt-to-equity ratio

Robert Sampson owns a townhouse valued at $191,000 and still has an unpaid mortgage of $156,000. In addition to his mortgage, he has the following liabilities: Visa MasterCard Discover card Education loan Personal bank loan Auto loan Total $ 785 440 585 3,100 500 5,500 $ 10,910 Robert's net worth (not including his home) is about $45,000. This equity is in mutual funds, an automobile, a coin collection, furniture, and other personal property. a. What is Robert's debt-to-equity ratio? (Round your answer to 2 decimal places.) Debt-to-equity ratio

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter7: Deductions And Losses: Certain Business Expenses And Losses

Section: Chapter Questions

Problem 14DQ

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