Covid-19 pandemic has caused total death about 30% of total population in Malaysia. This would have a significant negative impact on economic growth and the steady state level.
Covid-19 pandemic has caused total death about 30% of total population in Malaysia. This would have a significant negative impact on economic growth and the steady state level.Covid-19 pandemic has caused total death about 30% of total population in Malaysia. This would have a significant negative impact on economic growth and the steady state level.In production, a firm chooses the optimal level of capital and labor by considering factors that maximize its profit. Firms aim to maximize their profits by selecting the combination of capital and labor inputs that leads to the highest level of output for a given set of input prices.In production, a firm chooses the optimal level of capital and labor by considering factors that maximize its profit. Firms aim to maximize their profits by selecting the combination of capital and labor inputs that leads to the highest level of output for a given set of input prices.
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Determine the effective tax rate for a taxable income of $63,425. round the final answer to the nearest hundredth. 10% 14.67% 15.18% 22%
22% is the effective tax rate.The effective tax rate is the proportion of income that a person or business must pay or withhold as taxes.
The average tax rate paid by an individual on both earned and unearned income, such as stock dividends, is referred to as their effective tax rate. The progressive tax model states that as income increases, the tax rate increases, moving people into a higher tax band. Any taxable income produced outside of that range is taxed at the next highest tax rate; each marginal tax rate only applies to income earned within that bracket. This means that all new income produced above the previous bracket is taxed at a higher rate for higher income individuals.Here, the provided table displays theFor taxable income in the income range of $40,526 to $86,375, the marginal tax rate is 22%.Actual tax rate:Effective tax rate = total taxes owed/taxable income multiplied by 100.Effective tax rate: $6,847.50/$56,152.5 multiplied by 100.Tax rate in effect: 10.869%.
Tax rate in effect: 10.87% (Approximately)With a total tax obligation of $6,847.50, taxable income of $56,152.2, a marginal tax rate of 22%, and an effective tax rate of 10.87%, they are excluded.
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QUESTION 5 of 10: The first step in the marketing process is to:
Answer:
Understand the market place, which includes customer needs and wants.
Listed below are words and phrases from the auditors' standard (unmodified) report on a non-issuer's financial statements. For each of
the words and phrases indicate by letter in which section of the standard (unmodified) report they should appear.
A. Opinion Section
B. Basis for Opinion Section
C. Responsibilities of Management for the Financial Statements Section
D. Auditor's Responsibilities for the Audit of the Financial Statements Section
- Audit provides a basis for an opinion.
2. The financial statements present fairly, in all material respects.
3. The risk of not detecting a material misstatement resulting from fraud is higher.
4. Our objectives are to obtain reasonable assurance.
5. Financial statements are in accordance with accounting principles generally accepted in the United States of America.
6. Management responsible to evaluate whether substantial doubt exists about ability to continue as a going concern.
7. Auditor communication of scope and timing of audit with those charged with governance.
8. Conducted our audits in accordance with the auditing standards generally accepted in the United States of America
9. Management is responsible for the design, implementation, and maintenance of internal control.
10. We have audited the financial statements.
In the standard (unmodified) report, the Opinion Section (A) contains the auditors' opinion on the financial statements. The Basis for Opinion Section (B) explains that the audit provides a basis for the opinion.
The Responsibilities of Management for the Financial Statements Section (C) states the responsibilities of management regarding the financial statements and going concern evaluation. The Auditor's Responsibilities for the Audit of the Financial Statements Section (D) outlines the auditor's responsibilities, including detecting fraud, obtaining reasonable assurance, and conducting the audit in accordance with auditing standards.
The words and phrases from the auditors' standard (unmodified) report on a non-issuer's financial statements can be categorized as follows:
A. Opinion Section:
The financial statements present fairly, in all material respects.
We have audited the financial statements.
B. Basis for Opinion Section:
Audit provides a basis for an opinion.
C. Responsibilities of Management for the Financial Statements Section:
Management responsible to evaluate whether substantial doubt exists about ability to continue as a going concern.
Management is responsible for the design, implementation, and maintenance of internal control.
D. Auditor's Responsibilities for the Audit of the Financial Statements Section:
The risk of not detecting a material misstatement resulting from fraud is higher.
Our objectives are to obtain reasonable assurance.
Financial statements are in accordance with accounting principles generally accepted in the United States of America.
Auditor communication of scope and timing of audit with those charged with governance.
Conducted our audits in accordance with the auditing standards generally accepted in the United States of America.
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2. (02.03 LC) What is the role of the Securities and Exchange Commission? (10 points)
A: It adjusts the interest rates for loans.
B: It ensures all financial institutions follow banking laws. .
C: It protects up to $250,000 of customer deposits.
D: It regulates the business practices of stockbrokers.
Answer:
D: It regulates the business practices of stockbrokers.
Explanation:
The securities and exchange commission( SEC) is an independent state regulatory authority mandated to protect investors and promote fair and orderly practices in the securities market. The Sec has published rules and regulation that has created investor confidence in the markets. The SEC rules apply to all firms and individuals in the securities markets, including brokerage firms, securities exchanges, dealers, investment banks, and investment funds.
Among other things, SEC regulations demand disclosure and sharing of financial and market-related information, fair trading, and guards against fraud.
Answer:
D: It regulates the business practices of stockbrokers.
Explanation:
the Securities and Exchange Commission is tasked with protecting investors.
7. Connor has identified the need to make changes in the efficiency of his customer service
department. In general, he will make changes in which three of the following categories?
Answer:
A) coordinate recruitment and compensation activities
jack and jill are married and have lived in their home for ten years. they expect to have a $600,000 gain on the sale of the residence. they are uncertain whether to buy another home or rent an apartment in a different neighborhood. they seek your advice as to what must be done to in order to take advantage of the section 121 exclusion of gain on the sale of a principal residence available to married couples filing a joint return. in order to claim the exclusion you would tell them:
To take advantage of the Section 121 exclusion of gain on the sale of a principal residence, Jack and Jill, as married couples filing a joint return, should meet certain requirements, such as ownership and use tests, and consider their options for buying another home or renting an apartment in a different neighborhood.
To qualify for the Section 121 exclusion, Jack and Jill must meet certain requirements. Firstly, they must have owned and used the home as their principal residence for at least two out of the five years preceding the sale. As they have lived in their home for ten years, this condition is likely to be fulfilled. Secondly, to exclude the gain, the maximum allowable exclusion amount is $500,000 for married couples filing a joint return. Since they expect a $600,000 gain, they would exceed the exclusion limit. However, if they meet the ownership and use tests, they may still be eligible for a partial exclusion, reducing their tax liability.
Regarding their options, Jack and Jill should carefully consider whether they want to buy another home or rent an apartment in a different neighborhood. This decision will impact their ability to claim the Section 121 exclusion. If they choose to buy another home and meet the ownership and use tests again, they may potentially qualify for the exclusion on the gain from the sale of the new property in the future. On the other hand, if they decide to rent, they might not be able to claim the Section 121 exclusion on the gain from the sale of their current home. It is advisable for Jack and Jill to consult with a tax professional or advisor to fully understand their specific situation and receive personalized guidance regarding the Section 121 exclusion and its implications.
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which of the following is an example of an adjusting entry
I believe the answer is C.
Explanation:I was looking at examples of adjusting entry and C was the closest one that made more sense. If I am incorrect please correct me. Hope this somehow helped and have a good one!
✍(◔◡◔)An example of an adjusting entry is revenue which has been billed but not paid yet. (A)
What is an adjusting entry?
In accounting/accountancy, adjusting entries are journal entries usually made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.
What is revenue?Revenue is the income of an organization and a substantial nature.
What is a bill?Bill is an invoice that a commercial document issued by a seller to a buyer relating to a sale transaction and indicating the products
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If a product is no longer showing strong market share and sales are diminishing, which of the following would be the best approach to trying to extend its lifetime on the market
A. Offer extended warranties
B. Re-launch
C. Positioning
D. Discontinue
Answer:B. re-launch
Explanation: just took the quiz
Answer:
Re launch
Explanation:
A p e x
With regard to business definition, railroads may have lost business because they:
With regard to business definition, railroads may have lost business because they defined their business too narrowly.
Railways are a safe land transport system whilst in comparison to different kinds of shipping. Railway transport is capable of excessive stages of passenger and load usage and strength performance however are frequently less flexible and more capital-intensive than avenue delivery when decreased site visitor levels are taken into consideration.
The Railroad become the first advanced in top-notch Britain. a person named George Stephenson efficaciously implemented the steam technology of the day and created the world's first hit locomotive.
The primary engines used in the United States of America had been bought from Stephenson Works in England.
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Which of the following choices incur speculative risk?
a.stocks
b.fire insurance on a house
c.options
d.life insurance
e.high interest savings account
Answer: correct option is A.
Explanation: A speculative risk can be defined as risk that is taken willingly either it results in profit or loss and the stocks involve in probability of gain and loss making it a speculative risk.
Stocks incur speculative risk. Therefore option A is correct.
What are Stocks?A stock usually referred to as equity, is a type of investment that denotes ownership in a portion of the issuing company. Shares, also known as units of stock, entitle their owners to a share of the company's assets and income in proportion to the number of shares they possess.
Common stock and preferred stock are the two primary categories of stocks.
Owners of common stock are entitled to dividends and the right to vote at shareholder meetings.
Common stockholders often do not have voting rights, while preferred stockholders typically get dividend payments ahead of time and are given preference over common investors in the event of a firm bankruptcy and asset liquidation.
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In the long run, monopolistically competitive firms: Group of answer choices charge prices equal to marginal cost have excess capacity produce at the minimum of average total cost have excess capacity and produce at the minimum of average total cost
Answer:
have excess capacity
Explanation:
As we know that in the case of monopolistically competitive firms, the output produced is less efficient as compared to the other market in the long run
Also
P = ATC
But
ATC > ATC or ATC > MC
This ATC > MC arise when there are differentiated products due to which the demand curve is downward sloping
Hence, the second option is correct
during the constitutional convention, a "departmentalist" was someone who believed that ____
During the Constitutional Convention, a "departmentalist" was someone who believed that each branch of government (executive, legislative, and judicial) had the right and duty to interpret the Constitution independently.
Departmentalism emphasized the concept of checks and balances, with each branch acting as a check on the powers of the others.
Departmentalists argued that the Constitution did not grant exclusive interpretive authority to any one branch of government. Instead, they believed that the branches should exercise their own judgment when interpreting the Constitution and that their interpretations would be binding within their respective spheres of authority.
This perspective stood in contrast to the idea of "judicial supremacy," which asserted that the judiciary had the final and ultimate authority to interpret the Constitution and determine its meaning for all branches of government.
Departmentalism represented a belief in the shared responsibility of the three branches of government to interpret and uphold the Constitution, with none having superior interpretive authority over the others.
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Describe an ethical dilemma related to employee relations.
An ethical dilemma or ethical paradox is a decision-making problem between two possible moral imperatives, neither of which is unambiguously acceptable or preferable. The complexity arises out of the situational conflict in which obeying would result in transgressing another.
Janice is spending the summer working as an intern writing copy for a local firm. Today Janice's senior editor sent back some of Janice's work covered in red ink corrections. Up until now, all of Janice's work had been corrected in green or blue ink. Janice is upset and worried that her senior editor doesn't like her. Which component of an attitude is not represented in the previous scenario
Answer:
The answer is "the behavioral component".
Explanation:
Janice is not acting on this instance. Thus, the behavioral component of an attitude is not shown. Janice doesn't like her junior publisher, believes. This review demonstrates the cognitive framework of an attitude. Janice's upset. Jessica is upset. In her work, jane reacted badly to the red ink which depicts the emotional component of an opinion. Whereas a position could be correct or incorrect, these elements of a situation as defined in the OB are not addressed.
Levels of agriculture?
Answer:
Helloooo
the steps are :-
Soil preparationmanuringirrigationweedingharvestingstoringExplanation:
thanks hope it helps
You have just bought a lot of software for your new business. It is accounting software, anti-virus software, office software and human resource software, you expect to have your business up and running in the next month. All software was bough standard, off the shelf. While referring to BOTH Nick Carr and Michael Porter explain what their thoughts might be regarding whether this software gives your business a competitive advantage.
Nick Carr, known for his argument on "IT Doesn't Matter," suggests that information technology, including software, has become commoditized and widely available to all businesses.
According to Carr, using standard, off-the-shelf software does not provide a significant competitive advantage since it is easily accessible to competitors as well. He believes that technology investments should be focused on efficiency and cost reduction rather than seeking a competitive edge.
Michael Porter, a renowned strategist, emphasizes the importance of creating a competitive advantage through differentiation or cost leadership.
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Hey MCU fans, 30 pts to the first person who can answer this question! What was Loki's last words TO THOR before he died? Just thought this would be fun :)
The table shows the amounts held as the various components of M1 and M2 Calculate the value of M1 and M2 The value of M1 is $ ___billion. The value of M2 is $ ____ billion.
The table shows the amounts held as the various components of M1 and M2 Calculate the value of M1 and M2 The value of M1 is $ 270 billion. The value of M2 is $ 1205 billion.
The Federal Reserve System is in charge of keeping track of M1 and M2 levels and putting together a weekly release of data on the money supply. In order to give you an idea of how these quantities sound, here is the US money stock as measured by the Federal Reserve Bank. M1 and M2 are the two definitions of the money supply that economists typically employ. Cash, demand deposits that may be checked, and traveler's checks are among the liquid assets included in M1.
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for each separate case, record the necessary adjusting entry. on july 1, lopez company paid $2,500 for six months of insurance coverage. no adjustments have been made to the prepaid insurance account, and it is now december 31. zim company has a supplies account balance of $7,600 at the beginning of the year. during the year, it purchases $3,300 of supplies. as of december 31, a physical count of supplies shows $1,450 of supplies available. prepare the year-end adjusting entries to reflect expiration of the insurance and correctly report the balance of the supplies account and the supplies expense account as of december 31.
Debit Insurance expense and credit Prepaid insurance by 2500, Debit Supplies expense and credit supplies by 9,450.
The entry will be as follows:
Journal Debit Credit
a. Insurance expense 2,500
Prepaid insurance 2,500
( To record insurance expense)
b. Supplies expense 9,450
Supplies 9,450
( To record supplies expense)
Working notes:
Supplies beginning = $7,600
Supplies purchased = $3,300
Supplies, ending = $1,450
Supplies expense = Supplies, beginning + Supplies purchased - Supplies, ending
= 7,600+3,300-1,450
= $9,450
A company's insurance expense includes the cost of the insurance contract as well as any additional premium payments. The company's payment is recorded as an expense for the given accounting period.
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c) Differentiate between Celebrity Advertising and Public Service Advertising.
Answer:
one has to do with advertising for a career and the other for the public and the well-being of others. also, celebrity advertising is for one person while public service advertising is for many.
Explanation:
identify in decreasing order the FOUR largest components of government expenditure and the amounts that government plans to spend on them in 2018/2019 financial year
In decreasing order the FOUR largest components of government expenditure and the amounts that government plans to spend on them in 2018/2019 financial year are:
1. Health Care: $813.2 billion
2. Education: $617.1 billion
3. Social Security and Welfare: $547.3 billion
4. Defense: $489.2 billion
What is a government expenditure?Government spending or expenditure involves all government expenses, investment, and transfer payments. In national income accounting, the realization by governments of goods and services for current use, to directly meet the people or collective needs of the society, is categorized as government final intake expenditure.
Therefore, the correct answer is as given above
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explain the process that economists use to conduct a Cost-Benefit Analysis (CBA) for a high-speed rail
Answer:
A cost-benefit analysis is a systematic process that businesses use to analyze which decisions to make and which to forgo. The cost-benefit analyst sums the potential rewards expected from a situation or action and then subtracts the total costs associated with taking that action. Some consultants or analysts also build models to assign a dollar value on intangible items, such as the benefits and costs associated with living in a certain town.
KEY TAKEAWAYS
A cost-benefit analysis (CBA) is the process used to measure the benefits of a decision or taking action minus the costs associated with taking that action.
A CBA involves measurable financial metrics such as revenue earned or costs saved as a result of the decision to pursue a project.
A CBA can also include intangible benefits and costs or effects from a decision such as employees morale and customer satisfaction.
Cost-Benefit Analysis (CBA)
Understanding Cost-Benefit Analysis (CBA)
Before building a new plant or taking on a new project, prudent managers conduct a cost-benefit analysis to evaluate all the potential costs and revenues that a company might generate from the project. The outcome of the analysis will determine whether the project is financially feasible or if the company should pursue another project.
In many models, a cost-benefit analysis will also factor the opportunity cost into the decision-making process. Opportunity costs are alternative benefits that could have been realized when choosing one alternative over another. In other words, the opportunity cost is the forgone or missed opportunity as a result of a choice or decision. Factoring in opportunity costs allows project managers to weigh the benefits from alternative courses of action and not merely the current path or choice being considered in the cost-benefit analysis.
By considering all options and the potential missed opportunities, the cost-benefit analysis is more thorough and allows for better decision-making.
The Cost-Benefit Analysis Process
A cost-benefit analysis should begin with compiling a comprehensive list of all the costs and benefits associated with the project or decision.
The costs involved in a CBA might include the following:
Direct costs would be direct labor involved in manufacturing, inventory, raw materials, manufacturing expenses.
Indirect costs might include electricity, overhead costs from management, rent, utilities.
Intangible costs of a decision, such as the impact on customers, employees, or delivery times.
Opportunity costs such as alternative investments, or buying a plant versus building one.
Cost of potential risks such as regulatory risks, competition, and environmental impacts.
Benefits might include the following:
Higher revenue and sales from increased production or new product.
Intangible benefits, such as improved employee safety and morale, as well as customer satisfaction due to enhanced product offerings or faster delivery.
Competitive advantage or market share gained as a result of the decision.
An analyst or project manager should apply a monetary measurement to all of the items on the cost-benefit list, taking special care not to underestimate costs or overestimate benefits. A conservative approach with a conscious effort to avoid any subjective tendencies when calculating estimates is best suited when assigning a value to both costs and benefits for a cost-benefit analysis.
Finally, the results of the aggregate costs and benefits should be compared quantitatively to determine if the benefits outweigh the costs. If so, then the rational decision is to go forward with the project. If not, the business should review the project to see if it can make adjustments to either increase benefits or decrease costs to make the project viable. Otherwise, the company should likely avoid the project.
With cost-benefit analysis, there are a number of forecasts built into the process, and if any of the forecasts are inaccurate, the results may be called into question.
Limitations of the Cost-Benefit Analysis
For projects that involve small- to mid-level capital expenditures and are short to intermediate in terms of time to completion, an in-depth cost-benefit analysis may be sufficient enough to make a well-informed, rational decision. For very large projects with a long-term time horizon, a cost-benefit analysis might fail to account for important financial concerns such as inflation, interest rates, varying cash flows, and the present value of money.
Identify, describe, and analyze various sustainable practices that could be employed by recreational areas and facilities.
The sustainable practices that could be employed by recreational areas and facilities are they may include improving the air and water quality in the community and reducing the agency's impact on the environment such as using fuel-efficient vehicles and reducing the use of pesticides.
What are sustainable practices?Sustainable practices support ecological, human, and economic health and vitality. Sustainability presumes that resources are finite, and should be used conservatively and wisely with a view to long-term priorities and consequences of how resources are used.
In simplest terms, sustainability is about our children and our grandchildren, and the world we will leave them.
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What is the difference between asset management and wealth management
Answer:
here is ur answer
Explanation:
wealth management comes down to what services you need. Asset management is about choosing and managing investments. Wealth management, on the other hand, looks more broadly at a person's financial life and portfolio. Some financial advisors do both, allowing you to hire just one person for the job.
It all boils down to the services you require in terms of wealth management. Asset management is the process of selecting and managing investments.
Wealth management, on the other hand, examines a person's financial life and portfolio in greater depth. Some financial advisors do both functions, allowing you to hire only one person for the job.
Is asset management part of wealth management?Wealth management entails supervising all of the client's financial elements, which may include asset management, taxes, estate planning, cash flow management, and all other conceivable uses of money. Thus, wealth management includes asset management and takes a comprehensive perspective of the client's finances.
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the question is in the picture, please help!!
Answer: At a trial in a U.S. District Court, witnesses give testimony and a judge or jury decides who is guilty or not guilty — or who is liable or not liable. The appellate courts do not retry cases or hear new evidence. They do not hear witnesses testify.
Explanation:
why do your feet stink
Answer:
feet become smelly if sweat soaks into shoes and they don't dry before you wear them again. Bacteria on the skin break down sweat as it comes from the pores.
Stress and crisis management how do you write the essay
Answer:
Crisis management is the systematic attempt to prevent or manage organizational crises, that is, a serious emergency in which the functioning of an organization is seriously disrupted.
Crisis management encompasses methods to predict, assess, analyze and prevent emergency situations. A step prior to crisis management is to prevent technical and human failure. The response is then discussed: agreements are made about how command structures and lines of communication operate in the event of a crisis. In particular, the onset of a crisis is often chaotic and plans are drawn up for this until recovery and normalization of the situation occurs.
Dew Drop Inn had net revenue of $117,000 in 2020 and $100,000 in 2021. Its fixed assets were $400,000 at the end of 2019, $380,000 at the end of 2020, and $360,000 at the end of 2021. In which year was the fixed asset turnover ratio better
Based on the fixed assets and the revenue in the years in question, the year with the better fixed asset turnover ratio was 2020.
The fixed asset turnover ratio is calculated as:
= Revenue / Fixed assets
For 2020 it was:
= 117,000 / 380,000
= 47%
In 2021 it was:
= 100,000 / 360,000
= 28%
The year with the higher ratio is the better year and that year was 2020.
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Market value ratios Ratios are mostly calculated using data drawn from the financal statements of a firm. However, another group of ratios, called market valueratios, relate to a firm's observable market value, stock prices, and book values, integrating information from both the market and the firm's financial statements. Consider the case of Cute Camel Woodcraft Company: Cute Camel Woodcaft Company lust reported earnings after tax (also called net income) of $9,750,000 and a current stock price of $28.50 Der share. The company is forecasting an increase of 25% for its after-tax income next year, but it also expects it will have to issue 2,900,000 new shares of stock (raiding its shares outstanding from 5,500,000 to 8,400,000 ). If cute Camel's forecast turns out to be correct and its price/earnings (P/E) ratio does not change, what does the company's management expect its stock price to be one year from now? (Round any P/E ratio calculation to four decimal places.) $23.35 per share $28.50 per share $17.51 per share $29.19 per share One vear lates, Cute Camels shares are trading at $54.56 per share, and the company reports the value of its total common equity as $39,228,000. Given this information, Cute Camel's maket-to-book. (M/B) ratio is Can a comparrys thares enhibt a negative P/E ratio? No Tres Which of the following statements is true about market value ratios? Companies with high research and development (R8D) expenses tend to have high P/E ratios. Companies with high research and development (R\&D) expenses tend to have low P/E ratios.
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Based on the given information, we can calculate the expected stock price of Cute Camel Woodcraft Company one year from now by considering the increase in after-tax income and the issuance of new shares.
First, we calculate the forecasted earnings after tax for the next year:
Forecasted earnings after tax = Current net income * (1 + Forecasted growth rate)
Forecasted earnings after tax = $9,750,000 * (1 + 0.25)
Forecasted earnings after tax = $12,187,500
Next, we calculate the forecasted earnings per share (EPS) for the next year:
Forecasted EPS = Forecasted earnings after tax / Number of shares outstanding
Forecasted EPS = $12,187,500 / 8,400,000
Forecasted EPS ≈ $1.4538
Since the price/earnings (P/E) ratio is expected to remain the same, we can use the current P/E ratio to determine the forecasted stock price:
Forecasted stock price = Forecasted EPS * Current P/E ratio
Forecasted stock price = $1.4538 * (Current stock price / Current EPS)
Forecasted stock price = $1.4538 * ($28.50 / $9,750,000)
Forecasted stock price ≈ $0.0042
Therefore, Cute Camel Woodcraft Company's management expects the stock price to be approximately $0.0042 per share one year from now.
Regarding the other statements:
Companies with high research and development (R&D) expenses tend to have high P/E ratios. (False)
Companies with high research and development (R&D) expenses tend to have low P/E ratios. (False)
It is not necessarily true that companies with high R&D expenses will have consistently high or low P/E ratios. The relationship between R&D expenses and P/E ratios can vary depending on various factors and the specific circumstances of each company.
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What is the difference between your marginal and effective tax rates?
The two tax rates differ in the following ways: The margin is the amount you must pay on your subsequent dollar of income.
How does the effective tax rate differ?
Actual tax rate: This represents the average tax rate for a taxpayer, or the percentage of their annual income that must be allocated to paying taxes. The amount of tax that is levied on each successive level of income is known as the marginal tax rate.
How are the effective tax rate and marginal tax rate determined?
A marginal tax rate is the top tax bracket that an individual or corporation is subjected to depending on the highest income band that their earnings are classified under. By subtracting the actual income tax expense from the actual net income of the business, an effective tax rate is determined.
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