Chapter 16, Problem 1GLP

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MCQ

Kendall Company has sales of 1,990 units at $63 a unit. Variable expenses are 42% of the selling price. If total fixed expenses are $64,000, what is the degree of operating leverage? Give me answer

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Financial Accounting

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Sophia, a single taxpayer, bought her home in Santa Clara 30 years ago for $75,000. She has lived continuously in the home since she purchased it. In the current year, she sells her home for $460,000. What is Sophia's taxable gain on the sale?