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A grantor transfers $1 million to an irrevocable trust naming his three children as beneficiaries. A bank is the trustee and a spray provision is included in the trust instrument. What are the consequences of this transfer?
a. The grantor can take an annual exclusion for each trust beneficiary to reduce the taxable portion of the gift to $958,000
b. If the bank distributes $20,000 to one trust beneficiary this year, the grantor can take an annual exclusion of $14,000
c. The bank can make discretionary distributions of both income and corpus to the trust beneficiaries
d. The bank can only make discretionary distributions of income to the trust beneficiaries
The current spot rate is C$1.380 and the one-year forward rate is C$1.311. The nominal risk-free rate in Canada is 5 percent while it is 9 percent in the U.S. Using covered interest arbitrage you can earn an extra _____ profit over that which you wou..
Two inventive entrepreneurs have interested a group of venture capitalists in backing a new business project. The proposed plan would consist of a series of international retail outlets to distribute and service a full line of ingenious home garden t..
Many experts predicted that small, local ISPs would disappear as regional and national ISPs began offering local access. This hasn't happened. Why?
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You are thinking of buying a miniature golf course to operate. It is expected to generate cash flows of $40,000 per year in years one through four and $50,000 per year in years five through eight. If the appropriate discount rate is 10%, what is the ..
What is the equation of exchange? If nominal GDP is $12 trillion and the money supply is $1.5 trillion, what is velocity?
The question focuses on profitability, liquidity, efficiency, and stability of business. in regards to ratio analysis, identify two ratios that would be helpful for a business owner to monitor.Explain what the ratio would tell the owner, and how it c..
Evaluate the performance of a company using various financial analytical tools and analyse different patterns of cost behaviour and apply cost-volume-profit analysis to business decisions.
Why do you think the spread between buy and sell rates used in credit card payments is smaller than those applying to foreign banknotes?
What is meant by the time value of money, and what are two concepts we are learning about this week that may be relevant to the capital budgeting process?
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