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torisob [31]
2 years ago
13

The state tax Patrick must pay on the initial profit is . The federal tax he must pay on the initial profit is . The inflation o

n the amount remaining after taxes is . As a result, the real value of Patrick’s profit is
Business
2 answers:
guapka [62]2 years ago
5 0

Answer:

The state tax Patrick must pay on the initial profit is $350. The federal tax he must pay on the initial profit is $1750. The inflation on the amount remaining after taxes is $147. As a result, the real value of Patrick’s profit is $4678

Explanation:

Patrick has successfully invested in a growing tech company. Three years ago he invested $10,000 in the company through a broker. Now he has decided to sell his stock. The value of his stock is now at $17,000. Here are the taxes and fees associated with his investment: Annual brokerage fee: $25 State tax: 5% of profit Federal tax: 25% of profit Inflation rate: 1% per year The state tax Patrick must pay on the initial profit is . The federal tax he must pay on the initial profit is . The inflation on the amount remaining after taxes is . As a result, the real value of Patrick’s profit is .

Answer:

Patrick invested $10000 and after three years the value of his stock is $17000.

Profit = Value of stock - Amount invested = $17000 - $10000 = $7000

Total brokerage fee = Annual brokerage fee × number of years = $25 × 3 = $75

State tax = 5% of profit = 5% of $7000 = 0.05 × $7000 = $350

Federal tax = 25% of profit = 25% of $7000 = 0.25 × $7000 = $1750

Profit after tax = $7000 - $350 - $1750 = $4900

Inflation on the amount remaining after taxes = 1% of profit after tax × number of years = 3 years × (0.01 × $4900) = 3 × $49 = $147

Therefore the real value of profit = Profit - Total brokerage fee - state tax - federal tax - inflation = $7000 - $75 - $350 - $1750 - $147 = $4678

Tema [17]2 years ago
5 0

Answer:

1: 350

2: 1750

3: 147

4: 4678

Explanation:

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Business professionals value workplace relationships and professional behavior; therefore, it is vital to understand the charact
____ [38]

Answer: <em>Polish, Civility and Social Intelligence </em>

Explanation:

The following are the synonyms for the professional behavior: Civility, Polish and Social Intelligence. Social intelligence is referred to as or known as the capacity of an individual to know himself/herself and other individual.  Civility is referred or as known as the civilized conduct  i.e. considered to be a polite act or an expression .

6 0
2 years ago
During the recession witnessed in early 2001, many firms laid off their employees and downsized. the reason for this decrease in
nevsk [136]
<span>During the recession witnessed in early 2001, many firms laid off their employees and downsized. The reason for the downsizing of employees from these firms in 2001 was the incompetency and poor performance of the employees. It may sound mean but to the company, this is advantageous since they can reduce the costing while at the same time maintain or increase the final goods.</span>
4 0
2 years ago
Donna De Paul is raising money for the homeless. She discovers that each church group requires 2 hours of letter writing and 1 h
IgorC [24]

Answer:

a) 2 letters to church and 4 letters to union

b) $ 1000

Explanation:

Given data:

Letter writing time for church = 2 hours

Follow up required for church = 1 hour

Letter writing time for labor union = 2 hours

Follow up required for labor union = 3 hour

Funds from church = $ 100

Funds from union = $ 200

now, let the number of letters written to church be 'x'

and the number of letters written to labor union be 'y'

According to the given conditions

maximum timing for letter writing = 12 hours

thus,

2x + 2y ≤ 12 hours

or

x + y ≤ 6 hours   ............(1)

also,

Maximum time for follow up = 14 hours

thus,

1x + 3y ≤ 14 hours    ...............(2)

thus, it becomes an LPP problem

on solving the both the equations as equation (1)

     x +   y = 6

- ( 1x + 3y = 14 )

----------------------

    0 - 2y = -8

or

y = 4 hours

substituting the value of y in equation (1) we get

x + 4 = 6

or

x = 2

thus,

the most profitable mixture is 2 letters to church and 4 letters to labor union

now,

Most money that can be raised = (letters to church × money raise from the church) + (letters to union × money raise from the union)

on substituting the values, we have

Most money that can be raised = (2 × $ 100) + (4 × $ 200)

or

Most money that can be raised = $ 1000

8 0
2 years ago
Lap Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in a par
SpyIntel [72]

Answer:

The cost of the units completed and transferred out of the department was $825,000.

Explanation:

The costs per equivalent unit for the month were $2.00 for materials and $3.50 for conversion costs.

= 150,000 units × ($2.00 + $3.50) = $825,000.

7 0
2 years ago
By the time you retire exactly at age 70 you will have saved $700,000 into your diversified portfolio of mutual funds, bonds, an
saul85 [17]

Answer:

The answer is: $9,625

Explanation:

To calculate this, first we must calculate the future value on the amount invested for 10 years which yields an interest of 6.5% per year.

FV= P + (P × R × T )

where:

FV = Future value

P = Principal = $700,000

R = Interest rate in decimal = 6.5% = 0.065

T = Time = 10 years

Note also that ( P × R × T ) is the formula for simple interest on the invested amount.

∴ FV = 700,000 + ( 700,000 × 0.065 × 10 )

FV = 700,000 + 455,000 = $1,155,000

Next we are told that a withdrawal is made each month, for 10 years, hence to find how much is withdraw each month, let us calculate how many months are in 10 years:

1 year = 12 months

∴ 10 years = 12 × 10 = 120 months

Finally the withdrawal per month is calculated as follows:

Withdrawal per month = Total amount ÷ number of months

= 1,155,000 ÷ 120 = $9,625.

4 0
2 years ago
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