FOUND.OF FINANCIAL MANAGEMENT-ACCESS
FOUND.OF FINANCIAL MANAGEMENT-ACCESS
17th Edition
ISBN: 9781260519969
Author: BLOCK
Publisher: MCG
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Chapter 7, Problem 4P

Postal Express has outlets throughout the world. It also keeps funds for transactions purposes in many foreign countries. Assume in 2010 it held 240,000 reals in Brazil worth 170,000 dollars. It drew 12 percent interest, but the Brazilian real declined 24 percent against the dollar.

a. What is the value of its holdings, based on U.S. dollars, at year-end?

b. What is the value of its holdings, based on U.S. dollars, at year-end if instead it drew 9 percent interest and the real went up by 13 percent against the dollar?

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PROBLEM 2 On July 1, 2022, LTU Contracting, Inc. purchased a new Peiner SK575 Tower Crane for a total cost of $875,000. The crane has an estimated useful life of five (5) years. For financial reporting (book) purposes, the company utilizes straight line depreciation. For tax purposes, the equipment is depreciated over five years utilizing the 200% declining balance method. A. Prepare a table that computes the book and tax depreciation for each year of the useful life and determine the difference in book value between each method at the end of each year. B. On July 1st, 2025, the company is considering selling the crane for $500,000. Compute what the gain or loss would have been at that time for both book and tax purposes.

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