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Mr. RH purchased 30 acres of undeveloped ranch land 10 years ago for $935,000. He is considering subdividing the land into one-third-acre lots and improving the land by adding streets, sidewalks, and utilities. He plans to advertise the 90 lots for sale in a local real estate magazine. Mr. RH projects that the improvements will cost $275,000 and that he can sell the lots for $20,000 each. He is also considering an offer from a local corporation to purchase the 30-acre tract in its undeveloped state for $1.35 million. Assume that Mr. RH makes no other property dispositions during the year and has a 35 percent tax rate on ordinary income and a 15 percent tax rate on capital gain. (Cash outflows should be indicated by a minus sign. Enter your answers in dollars and not in millions of dollars.)
a. Compute the after-tax cash flow if Mr. RH develops the land.
b. Compute the after-tax cash flow if Mr. RH sells the land.
A futures price is currently 55, its volatility is 20% per annum, and the risk-free rate is 6% per annum. What is the value of a 5-month European put on the futures with a strike price of 65?
From your course textbook, Accounting Information Systems, refer to the table "Characteristics of Useful Information" in the chapter "Accounting Information Systems: An Overview." To what extent can all the characteristics of useful information liste..
Calculate the gain recorded on the sale. Is the answer $4,650 gain
Which of the following is not a characteristic of a process cost system?
Expense Recognition: Applying U.S GAAP indicate the amount of expenses the firm recognizes during the months of june, july and august in each of the following hypothetical transactions. Pays $180,000 on July 1 for the one year’s rent on a warehouse b..
Find expressions for national saving per worker and the steady-state level of investment per worker as functions of the capital-labor ratio, k.
Compute the variable cost per unit and the contribution margin ratio for 2010 and compute the increase in fixed costs for 2011.
Direct materials and direct labor variance analysis Oasis Faucet Company manufactures faucets in a small manufacturing facility. The faucets are made from zinc. Manufacturing has 50 employees. Determine (a) the standard cost per unit for direct mater..
December 30, to record the employer's payroll taxes on the payroll to be paid on December 31. Of the total payroll for the last week of the year, $35,000 is subject to unemployment compensation taxes.
Condensed financial data of Pat Metheny Company for 2014 and 2013 are presented below. PAT METHENY COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2014 AND 2013 2014 2013 Cash $1,810 $1,100 Receivables 1,758 1,306 Inventory 1,583 1,901 Plant ass..
Compute the gain or loss in the futures hedge after describing in detail all transactions and Calculate the actual cost of purchasing the motorcycles with the hedge.
Difference between GAAP used in financial statements and government regulation and Show the difference between GAAP being used in financial statements and government regulations being used in financial statements.
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