The Legal Environment of Business: Text and Cases
9th Edition
ISBN: 9781305764460
Author: Frank B Cross/ Roger LeRoy Miller
Publisher: CENGAGE C
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Chapter 17, Problem 4RE
Summary Introduction
Case summary: A proposal for the repair of a damaged bridge in city P was made. A design was prepared by an LLC named DM, in collaboration with a local sculptor namely S, which was selected by the city. Both DM and person S agreed to work together and divided their assignments, payments, and profits. They successfully completed the project.
To find: The term and effect of withdrawal of person R on the LLC.
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The Legal Environment of Business: Text and Cases
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- General accountingarrow_forwardWhat will be that after tax income?arrow_forwardCrenshaw, Incorporated, is considering the purchase of a $367,000 computer with an economic life of five years. The computer will be fully depreciated over five years using the straight-line method. The market value of the computer will be $67,000 in five years. The computer will replace five office employees whose combined annual salaries are $112,000. The machine will also immediately lower the firm's required net working capital by $87,000. This amount of net working capital will need to be replaced once the machine is sold. The corporate tax rate is 22 percent. The appropriate discount rate is 15 percent. Calculate the NPV of this project. Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. NPV Answer is complete but not entirely correct. S 103,141.80arrow_forward
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