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Jack and his wife, Carol, were in an auto accident. Carol died three weeks before Jack did. His gross estate was $6.2 million. One of the major assets in his estate was closely held stock in an equipment leasing firm (C corporation) with which rapidly appreciating equipment was purchased. His estate had unsecured debts of $400,000 and administrative expenses of $75,000. His will allocates his estate to his children in equal shares. Which post mortem planning techniques might benefit Jack’s estate? 1. The alternative valuation date. 2. A Section 303 stock redemption. 3. The QTIP election. 4. Special use valuation. 5. Installment payment of estate taxes. 3 only. 2 and 5. 4 and 5. 1, 3 and 4.
Mrs. Jackson sells shoes part-time for Hall Shoes. Hall pays Mrs. Jackson 16.25 dollars per hour plus a 4 percent commission on all sales. Assume Mrs. Jackson works 28 hours and has 8,700 dollars sales. What is Mrs. Jackson’s gross pay?
Prepare a classified balance sheet at December 31, 2015 - The investment in Sasse common stock is considered to be a long-term available-for-sale security.
You owe $2,000 on your credit card. The interest rate they offer is 19.6% interest compounded monthly. If you can only make the minimum monthly payment of $40 per month, how many years will it take for you to be debt-free?
Using a 3-year trend analysis, how has Marriott’s position changed in the areas of: a) Debt Management (i.e., LT debt ratio, TIE) and b) Profitability (i.e., ROE, ROA)? Be sure to interpret your ratio analysis and explain the reasons for your conclus..
Tuition costs are expected to inflate at the rate of 8% per year. The first year's tuition is due one year from now and will be 10,000. To cover tuition costs for 4 years , a fund is to be set up today in an account that will earn interest at the rat..
Historical Realized Rates of Return You are considering an investment in either individual stocks or a portfolio of stocks. The two stocks you are researching, Stocks A and B have the following historical returns: Calculate the average rate of return..
The MerryWeather Firm wants to raise $22 million to expand its business. To accomplish this, the firm plans to sell 20-year, $1,000 face value zero-coupon bonds. The bonds will be priced to yield 5 percent. What is the minimum number of bonds the fir..
A firm can lease a truck for 5 years at a cost of $42,000 annually. It can instead buy a truck at a cost of $92,000, with annual maintenance expenses of $22,000. The truck will be sold at the end of 5 years for $32,000. What is the equivalent annual ..
Driveaway Cars issued a 20-year, 8 percent semiannual bond 3 years ago. The bond currently sells for 98.6 percent of its face value. The company's tax rate is 34 percent. What is the aftertax cost of debt?
The expected rate of return on the shares is 12%. Calculate the opportunity cost of capital for an average-risk Whispering Pines investment. Next, suppose the company issue debt, repurchases shares, and moves to a 30% debt to value ratio (D/V=.30). C..
Replacement Analysis The Everly Equipment Company's flange-lipping machine was purchased 5 years ago for $90,000. It had an expected life of 10 years when it was bought and is being depreciated by the straight-line method by $9,000 per year. If the n..
A convertible bond pays interest annually at a coupon rate of 5% on a par value of $1,000. The bond has 10 years maturity remaining and the discount rate on otherwise identical non-convertible debt is 6.5%
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