This statement is TRUE for a company with high operating leverage. Operating leverage refers to the ratio of fixed costs to variable costs. When a company has high operating leverage,
The regression analysis is used to estimate a cost equation that indicates variable and fixed costs per unit. Regression analysis estimates the relationship between dependent and independent variables. Cost estimation is the most popular area where regression analysis is applied.
The cost equation helps in predicting cost behavior based on activity levels. Regression analysis is accurate and considers all available data points to determine a cost equation that indicates variable and fixed costs per unit.
Therefore, the correct answer is: Estimates a cost equation that indicates variable and fixed costs per unit.6. Pounds of materials for production is a resource constraint.
Resource constraints refer to the limitations in the availability of inputs. Materials are a significant input in production, and their availability limits production.
7. If sales increase, your profits will increase at a slower rate than a company with lower operating leverage.
This statement is TRUE for a company with high operating leverage. Operating leverage refers to the ratio of fixed costs to variable costs. \
\When a company has high operating leverage, it has more fixed costs, which lead to a higher contribution margin.
To know more about regression visit:
https://brainly.com/question/32505018
#SPJ11
7Eleven product/service offerings: what is the value
provided to consumer at this time? This will be different from your
proposed offering based on your research and analysis. The proposed
offerings w
The value provided to consumers by 7-Eleven at this time includes convenience, accessibility, a wide range of products and services, and extended operating hours.
7-Eleven is a convenience store chain that aims to provide customers with easy access to everyday items and services. The key value proposition of 7-Eleven is convenience. The stores are strategically located in easily accessible areas, such as urban neighborhoods, gas stations, and transportation hubs, making it convenient for consumers to purchase items without traveling long distances.
Additionally, 7-Eleven offers extended operating hours, often operating 24/7, allowing customers to shop at any time that suits their schedule. This flexibility appeals to busy individuals, night-shift workers, and those in need of immediate purchases outside of regular business hours.
7-Eleven also provides a wide range of products and services to cater to diverse customer needs. Their offerings include snacks, beverages, grocery items, ready-to-eat meals, personal care products, and even services like bill payment, money transfers, and parcel delivery in some locations. By offering a variety of products and services under one roof, 7-Eleven aims to meet the immediate needs of consumers conveniently and efficiently.
It is important to note that the value provided by 7-Eleven's current offerings may vary depending on the location and specific store. Different stores may have different product selections, services, and operational hours. Therefore, the value experienced by consumers may differ between individual stores.
The value currently provided by 7-Eleven revolves around convenience, accessibility, a wide range of products and services, and extended operating hours. This allows customers to fulfill their immediate needs conveniently and efficiently. However, it is worth noting that this assessment may vary depending on the specific store and location.
To know more about 7-Eleven visit
https://brainly.com/question/3227054
#SPJ11
Federal law limits a taxpayer's state and local tax
(SALT) deduction to $10,000 if single or married filing jointly,
and $5,000 if married filing separately. Which of the following
statements is TRUE
The true statement regarding the federal law on state and local tax (SALT) deduction limits is: Federal law limits the SALT deduction to $10,000 for taxpayers filing as single or married filing jointly, and $5,000 for taxpayers filing as married filing separately.
This means that individuals who file as single or married filing jointly can deduct up to $10,000 of their state and local taxes from their federal taxable income. Similarly, those who file as married filing separately can deduct up to $5,000 of their state and local taxes. These limits are set by federal law and apply to the SALT deduction for taxpayers when calculating their federal income tax liability.
learn more about "Taxpayers ":- https://brainly.com/question/26479536
#SPJ11
The Shoebottom Company has a maximum production capacity of 45,000 units per year. For that capacity level, fixed costs are $310,000 per year. Variable costs per unit are $75. In the coming year, the company has orders for 49,500 units at $105. The company wants to make a minimum overall operating income of $185,000 on these 49,500 units. Requirement What maximum unit purchase price would Shoebottom Company be willing to pay to a subcontractor for the additional 4,500 units it cannot manufacture itself to earn an operating income of S185,000? Identify the total cost to Shoebottom Company to manufacture 45,000 units. Total costs to manufacture 45,000 units
The maximum unit purchase price that Shoebottom Company would be willing to pay to a subcontractor for the additional 4,500 units it cannot manufacture itself to earn an operating income of S185,000 is $88.89.Maximum unit purchase price Shoebottom Company is willing to pay.
The total operating income that Shoebottom Company requires from producing 49,500 units is:Total operating income = $185,000.Thus, the operating income per unit = Total operating income/Total units produced
Operating income per unit = $185,000/49,500
Operating income per unit = $3.74
In producing 45,000 units, Shoebottom's fixed costs per unit are:
Fixed costs per unit = Total fixed costs/Maximum production capacity
Fixed costs per unit = $310,000/45,000 units produced
Fixed costs per unit = $6.89
Therefore, Shoebottom's variable costs per unit are:
Variable costs per unit = Total variable costs/Maximum production capacity
Variable costs per unit = $75
Thus, total cost per unit of production is:
Total cost per unit = Fixed cost per unit + Variable cost per unit
Total cost per unit = $6.89 + $75
Total cost per unit = $81.89
The total cost for Shoebottom Company to manufacture 45,000 units is:
Total cost = Total cost per unit x Units produced
Total cost = $81.89 x 45,000 = $3,684,050
Hence, the maximum unit purchase price Shoebottom Company is willing to pay to a subcontractor for the additional 4,500 units it cannot manufacture itself to earn an operating income of $185,000 is $88.89. The total cost to Shoebottom Company to manufacture 45,000 units is $3,684,050.
To know more about subcontractor visit:
https://brainly.com/question/31087204
#SPJ11
Estimating Uncollectible Accounts And Reporting Accounts Receivable LaFond Company Analyzes Its Accounts Receivable At
LaFond Company analyzes its accounts receivable at the end of each month and estimates that 2% of its accounts receivable will be uncollectible. Accounts receivable on June 30 are $425,000, and the company expects to collect 90% of these receivables.
Therefore, the company will estimate its allowance for doubtful accounts at $8,500 (2% of $425,000) and the net realizable value of accounts receivable at $382,500 ($425,000 - $8,500).When a company sells goods or services on credit, it generates accounts receivable. However, not all customers pay their bills on time, resulting in uncollectible accounts.
As a result, a company must determine the net realizable value of its accounts receivable. The allowance method is one of the techniques for estimating uncollectible accounts. Under the allowance method, an allowance account is set up as a contra asset account to accounts receivable. It serves as a buffer against bad debts, ensuring that accounts receivable are presented at their net realizable value on the balance sheet.
To know more about analyzes visit:
https://brainly.com/question/11397865
#SPJ11
Prepare The Journal Entry To Record The Completion Of Any Job(S) During The Month. (List All Debit Entries Before Credit Entries,
When a job is finished, the journal entry to record the completion of any job(s) would involve transferring the cost of goods manufactured (COGM) into finished goods inventory and then transferring that into cost of goods sold (COGS). This is known as the closing entry.
Here's an example of how to prepare the journal entry for the completion of a job during the month:Journal entry for the completion of any job during the monthParticulars Debit Credit Finished goods inventoryCOGM Cost of goods sold Work in progress inventory At the beginning of the month, the Work in Progress (WIP) account will be debited with the costs of any direct materials, direct labor, and manufacturing overhead incurred during the production process. During the month, additional costs may be added to the WIP account.
Once the job is completed, the WIP account must be credited for all of the costs of the job, including the costs incurred during the month. These costs are then transferred to the Cost of Goods Manufactured (COGM) account.The finished goods inventory account will be debited for the cost of the completed job. It will be credited with the cost of goods sold when the products are sold. The cost of goods sold account is used to record the cost of producing the goods sold during the period. This account is debited to record the cost of goods sold.
To know more about inventory visit:
https://brainly.com/question/31146932
#SPJ11
Explain, with the use of a numerical example, the meaning of the term 'cash operating cycle' and its significance in relation to working capital management.
2. what do you understand by the term ' overtrading' and what are the possible consequences of this type of activities.
3. what are the main causes of overtrading and how might the management of a business overcome the problem of overtrading
The cash operating cycle represents the time it takes for a company to convert inventory into cash, while overtrading refers to rapid expansion without sufficient financial resources. Efficient management of the cash operating cycle is vital for working capital, affecting liquidity and profitability. Overtrading can lead to a shortage of working capital, cash flow issues, and a higher risk of insolvency. Causes include rapid expansion and misjudgement of sales or expenses. To address overtrading, businesses can improve cash flow management, renegotiate supplier terms, reduce credit sales, and raise additional capital.
The cash operating cycle is a critical aspect of working capital management as it measures the efficiency with which a company manages its resources and generates cash flow. Let's consider an example: Company XYZ takes an average of 40 days to acquire inventory, 30 days to convert it into finished goods, and another 20 days to collect cash from customers after sales. The cash operating cycle for XYZ would be 40 days (inventory period) + 30 days (conversion period) + 20 days (receivables collection period) = 90 days.
Overtrading occurs when a business expands rapidly without adequate financial backing. Suppose Company ABC experiences a sudden surge in demand, and to meet it, they increase production and offer credit sales to customers. However, they lack sufficient working capital to support this expansion. As a result, they face cash flow problems and struggle to pay suppliers and meet their obligations on time.
The main causes of overtrading are often linked to aggressive growth strategies and poor financial planning. To overcome this issue, the management of the business needs to focus on optimizing working capital. They can do this by implementing cash flow forecasting and budgeting, negotiating better terms with suppliers, tightening credit policies, and exploring options like equity financing or short-term loans to meet the increased demand. By aligning their growth with the availability of financial resources, businesses can avoid the consequences of overtrading and ensure their long-term sustainability.
To know more about Management visit-
brainly.com/question/28444311
#SPJ11
Which of the following is usually considered a long-term financial strategy? Multiple Choice creating a budget using savings to pay off a loan early О O renting an apartment to save for the purchase of a home investing in a growth mutual fund to accumulate retirement funds purchasing life insurance to cover current needs of dependents
Investing in a growth mutual fund to accumulate retirement funds.
Among the options provided, investing in a growth mutual fund to accumulate retirement funds is usually considered a long-term financial strategy. This approach involves allocating funds towards investments that have the potential for growth over an extended period, specifically targeting retirement savings. Other options mentioned, such as creating a budget, paying off a loan early, or purchasing life insurance, can be part of overall financial planning but may not necessarily be classified as long-term financial strategies. Renting an apartment to save for the purchase of a home can be seen as a short-term strategy with a specific goal in mind.
learn more about mutual fund here:
https://brainly.com/question/22525531
#SPJ11
the free look period provided in a life insurance policy is usually
Life insurance policy free look period allows policyholders to review terms and conditions without financial penalties, allowing review and cancellation.
The free look period in a life insurance policy is a consumer protection feature that provides policyholders with a window of time to evaluate the policy after it is issued.
During this period, which is usually a specified number of days (e.g., 10 or 30 days), the policyholder has the opportunity to review the policy's terms, coverage, premiums, and any riders or additional features.
The purpose of the free look period is to ensure that policyholders have sufficient time to understand the details of the policy and make an informed decision about its suitability for their needs.
If the policyholder is not satisfied with the terms or decides that the coverage is not what they expected, they can cancel the policy within the free look period without any financial consequences.
The premiums paid during this period are typically refunded in full or prorated.
It is important for policyholders to carefully review the policy documents during the free look period and seek clarification from the insurance company or agent if they have any questions or concerns.
This allows them to make an educated decision about whether to keep the policy or explore other options.
learn more about insurance here
https://brainly.com/question/32233665
#SPJ11
Sibanye Stillwater Limited operates as a precious metals mining company in South Africa, the United States, Zimbabwe, Canada, and Argentina. The company produces gold; platinum group metals (PGMs), including palladium, platinum, and rhodium; and by-products, such as iridium, ruthenium, nickel, copper, and chrome
What is the justified leading P/E ratio of the Sibanye Stillwater Limited given the following information:
current price per share: $ 14.38
the expected payout ratio: 21.88%
earning per share for the last reporting period: $3.8
the appropriate discount rate for this risk class: 8.38%
the expected growth rate in earnings and dividends: 5.91 %.
The justified leading P/E ratio for Sibanye Stillwater Limited is the appropriate discount rate for this risk class: 8.38%
To calculate the justified leading P/E ratio, we can use the Gordon Growth Model. The formula for the justified P/E ratio is P/E = (1 - payout ratio) / (discount rate - growth rate).
Current price per share: $14.38
Expected payout ratio: 21.88% (0.2188)
Earnings per share for the last reporting period: $3.8
Appropriate discount rate: 8.38% (0.0838)
Expected growth rate in earnings and dividends: 5.91% (0.0591)
First, we need to calculate the expected dividend per share. The expected dividend per share = Earnings per share * Payout ratio.
Expected dividend per share = $3.8 * 0.2188 = $0.83144.
Next, we can calculate the justified price per share using the Gordon Growth Model. The formula is Price per share = Dividend per share / (Discount rate - Growth rate).
Price per share = $0.83144 / (0.0838 - 0.0591) = $0.83144 / 0.0247 = $33.665.
Finally, we can calculate the justified leading P/E ratio by dividing the current price per share by the earnings per share.
Justified leading P/E ratio = Price per share / Earnings per share = $33.665 / $3.8 = 8.86.
Therefore, the justified leading P/E ratio for Sibanye Stillwater Limited is 8.38 (rounded to two decimal places).
Learn more about Gordon Growth Model here:
https://brainly.com/question/28861455
#SPJ11
Depreciation expense: (pick the best answer)
Represents how much cash was spent in a given period for fixed assets purchased by a company
Represents how much cash was spent in a given period for intangible assets purchased by a company
Has no impact on taxes
Represents how much of a company’s total fixed assets have been spent in a given period and is non-cash expense
The best answer is: Represents how much of a company’s total fixed assets have been spent in a given period and is a non-cash expense.
Depreciation expense represents the allocation of the cost of fixed assets (such as buildings, machinery, or equipment) over their useful lives. It is a systematic way of recognizing the wear and tear, obsolescence, or other factors that cause the value of fixed assets to decrease over time.
Depreciation expense does not represent actual cash spent in a given period, as it is a non-cash expense. It is important for financial reporting and tax purposes but does not directly impact taxes since it is a non-cash deduction.
Know more about Depreciation expense here;
https://brainly.com/question/17440027
#SPJ11
Does a coffee shop or clothing store generally have a highest inventory turnover?
2. Because transactions occur in cash or by credit card, a distinguishing feature of retailers is
(a) High ROE
(b) High Inventory turnover
(c) High debt to total asset
(d) Low receivable collection period
A coffee shop and a clothing store are both types of retailers, but they can have different inventory turnover rates. Inventory turnover refers to how quickly a business sells its inventory and replaces it with new stock.
In the case of a coffee shop, the inventory turnover may be relatively high because the products (such as coffee beans, milk, and pastries) have a limited shelf life. Coffee shops need to sell their inventory quickly to ensure freshness and prevent waste. Therefore, a coffee shop might have a higher inventory turnover compared to a clothing store.
On the other hand, a clothing store typically deals with products that have a longer shelf life and are not as time-sensitive as perishable items. Clothing stores usually carry a wider range of products and have larger inventories. As a result, their inventory turnover may be lower compared to a coffee shop.
In conclusion, while both types of retailers have different inventory turnover rates, a coffee shop generally has a higher inventory turnover compared to a clothing store. It is important to note that inventory turnover can vary based on several factors, including the nature of the products being sold and the specific business strategies implemented.
To know more about Inventory visit :
https://brainly.com/question/31146932
#SPJ11
Cawley Company makes three models of tasers. Information on the three products is given below.
Tingler Shocker Stunner
Sales $306,000 $494,000 $200,000
Variable expenses 154,900 203,300 135,200
Contribution margin 151,100 290,700 64,800
Fixed expenses 119,964 224,736 93,700
Net income $31,136 $65,964 $(28,900)
Fixed expenses consist of $294,000 of common costs allocated to the three products based on relative sales, as well as direct fixed expenses unique to each model of $30,000 (Tingler), $79,500 (Shocker), and $34,900 (Stunner). The common costs will be incurred regardless of how many models are produced. The direct fixed expenses would be eliminated if that model is phased out.
James Watt, an executive with the company, feels the Stunner line should be discontinued to increase the company’s net income.
(a)
Compute current net income for Cawley Company.
(b)
Compute net income by product line and in total for Cawley Company if the company discontinues the Stunner product line. (Hint: Allocate the $294,000 common costs to the two remaining product lines based on their relative sales.)
(c)
Should Cawley eliminate the Stunner product line?
Why or why not?
(a) The current net income for Cawley Company is $68,200.
(b) If the company discontinues the Stunner product line, the new net income for Cawley Company will be $469,900.
(c) Discontinuing the Stunner product line would be beneficial for the company.
(a) To compute the current net income for Cawley Company, we can add up the net incomes for each product line:
Tingler: $31,136
Shocker: $65,964
Stunner: $-28,900
Total Net Income = $31,136 + $65,964 + (-$28,900) = $68,200
(b) If the company discontinues the Stunner product line, the common costs of $294,000 will be allocated to the two remaining product lines based on their relative sales. The total sales of the two remaining product lines are $306,000 + $494,000 = $800,000.
The Tingler line has sales of $306,000/$800,000 or 38.25% of total sales and the Shocker line has sales of $494,000/$800,000 or 61.75% of total sales. Therefore, $294,000 x 38.25% = $112,605 of common costs will be allocated to the Tingler line and $294,000 x 61.75% = $181,395 will be allocated to the Shocker line.
The new net income by product line and in total for Cawley Company if the company discontinues the Stunner product line is as follows:
Tingler:
Sales $306,000
Variable expenses $154,900
Contribution margin $151,100
Fixed expenses ($119,964+$30,000-$112,605) = $-1,469
Net income $152,569
Shocker:
Sales $494,000
Variable expenses $203,300
Contribution margin $290,700
Fixed expenses ($224,736+$79,500-$181,395) = $-26,631
Net income $317,331
Total Net Income = $152,569 + $317,331 = $469,900
(c) Based on part (b), if Cawley Company eliminates the Stunner product line, their net income would increase from $68,200 to $469,900. Therefore, it appears that discontinuing the Stunner product line would be beneficial for the company.
Know more about net income here:
https://brainly.com/question/32614743
#SPJ11
How much money will Penny Pincher have after 40 years if she invests $500 at the beginning of each month and is able to earn a rate of return of 9 percent compounded semi-annually on her investments? (FV)
P/Y = 12, C/Y = 2, N = 480, I/Y = 9, PV = 0, PMT = -500, FV = ?
Penny Pincher will have $2,245,774.54 in her account after 40 years.
How did they get this answer. Calculate by hand and show steps. Thank you
After 40 years, Penny Pincher will have approximately $11,155.56 in her account. It seems there might be an error in the original answer you provided.
The compound interest formula can be used to determine Penny Pincher's investment's future value (FV):
FV is equal to PV x (1 + r/n) x (nt) + PMT x ((1 + r/n - 1) / (r/n)), where:
PV = Present value (for the initial investment) = $0 r = Annual interest rate = 9% = 0.09 n = Number of times interest is compounded per year = 2 (compounded semi-annually) t = Number of years = 40 PMT = Monthly investment = $500
Let's begin by determining the compound interest factor:
Next, let's figure out the PMT factor: (1 + r/n)(nt) = (1 + 0.09/2)(240) = (1 + 0.045)80 = 2.208056437.
Now, let's figure out the FV: ((1 + r/n)(n*t) - 1) / (r/n)) = ((2.208056437 - 1) / (0.09/2)) = 22.31112653
FV = PV * (1+r/n)(nt) + PMT * (((1+r/n) - 1) / (r/n)) = 0 * 2.208056437 + 500 * 22.31112653 = 11,155.56327. As a result, Penny Pincher will have approximately $11,155.56 in her account after 40 years. The initial response you gave may have contained an error.
To know more about Account, visit
brainly.com/question/1287000
#SPJ11
If they instead spend that $2M on advertising to 100,000 households in their highest CLV segment, how many new customers would they need to acquire to breakeven? (Hint: Use the CLV from part b). [2] Breakeven Acquisition Rate =
CLV
Acquisition Spending
2. They expect that after the first year they will be able to increase margins from their original batch of customers (part b) year to year by 4%,6%,2%, respectively. Please recalculate the CLV for each segment. Assume that the AC is a sunk cost (they have already broken even on that original batch). In other words, calculate it without AC. [6] ScentGift is a subscription perfume company that offers customer packages to try perfumes/colognes per month. It has three packages for sale: GoGetter (1 scent), Magnet (2 scents), and Slay (4 scents). The marketing team expects customers will buy them in sales mix ratio of 5:8:2. The package prices are $20,$35, $60, respectively. The variable costs for the packages are $7,$12, and $18, respectively. They anticipate the ad campaign they need to run will cost around $3M. a. How many treatments of each type do they need to sell in order to breakeven? [3] b. Assume that they could get a total of 650,000 customers with the marketing budget mentioned above, and they can achieve retention rates in the three segments of 86%, 70%, and 67%, respectively. Using a monthly discount rate of 6%, please calculate the CLV for each segment. (Hint: M= total contribution for each segment from part a.AC= FC/ total number of customers) (Note: Just use the same AC for each segment) [6] CLV=
(1+d−r)
Mr
−AC c. Suppose that next year they have $2M in their marketing budget that they can spend on one of the three segments. Help them decide by calculating what the retention rate target should be for each segment if the entire $2M is spent on that segment. (Hint: Rearrange the formula in terms of r, and calculate the new M. To find the size of each segment, use the sales mix, e.g. Slay would be 5/15 of the total number of customers.) [3] r=
(M+CLV+AC)
(CLV+AC)(1+d)
The COVID-19 pandemic can have several effects on a company's share price, including:
Market Volatility: The pandemic has led to increased market volatility, causing fluctuations in share prices across various industries, including mining and resources. Rio Tinto's share price may have experienced volatility due to changing market conditions and investor sentiment.
Supply Chain Disruptions: The pandemic has disrupted global supply chains, affecting the production and distribution of goods. As a mining company, Rio Tinto may have faced challenges in its operations, such as delays in mining activities or disruptions in the delivery of raw materials, which could impact its financial performance and share price.
Demand Uncertainty: The economic impact of the pandemic has resulted in uncertain demand for commodities. Rio Tinto's share price may be influenced by fluctuations in commodity prices, particularly for metals such as iron ore, aluminum, and copper, which are significant to the company's operations.
Investor Sentiment: Investor sentiment plays a crucial role in determining share prices. During the pandemic, investors may have reacted to news related to the company's financial performance, operational challenges, or strategic decisions, which could impact Rio Tinto's share price.
To provide a more detailed analysis of how the COVID-19 pandemic specifically impacted Rio Tinto's share price, we would need access to historical data, financial reports, news articles, and market analysis related to the company. This information would enable us to examine Rio Tinto's share price movements, financial performance, and market reactions during the pandemic period.
It is important to note that the impact of the pandemic on a company's share price is multifaceted and can vary based on numerous factors, including the industry, geographic location, financial health, and management decisions of the company. Conducting a comprehensive analysis requires in-depth research and access to specific data related to Rio Tinto.
To know more about Information visit-
brainly.com/question/30101285
#SPJ11
The complete question is:
I now have $15,000 in the bank earning interest of 0.50% per month. I need $25,000 to make a down payment on a house. I can save an additional $100 per month. How long will it take me to accumulate the $25,000? (Do not round Intermediate calculations. Round your answer to 2 decimal places. Use a financial calculator or Excel.)
Answer is complete but not entirely correct.
Time required 5.58 months
To accumulate $25,000, and assuming interest is compounded monthly, with an interest rate of 0.50%, and additional savings of $100 per month, we can use the financial formula for the future value of an ordinary annuity.
FV = PMT [((1 + i)n - 1) / i], where FV is the future value of the annuity, PMT is the payment per period, i is the interest rate per period, and n is the total number of periods. We can rearrange the formula as follows:n = log [FV / PMT / (i + PMT)] / log(1 + i)n = log [25000 / 100 / (0.005 + 100)] / log(1.005)n ≈ 63.30 months, however, since we are only saving $100 per month, it will take over 5 years to accumulate $25,000, which is not what we want. We currently have $15,000 saved, which means we need to accumulate an additional $10,000.To find out how long it will take to save $10,000, we can use the same formula and adjust the FV value:n = log [10000 / 100 / (0.005 + 100)] / log(1.005)n ≈ 5.58 months. Therefore, it will take approximately 5.58 months to accumulate the additional $10,000 needed for the down payment. Adding this time to the current month we are in will give us the total number of months needed to reach the goal:5.58 months + 1 month (current month) ≈ 6.58 months (rounded to 2 decimal places). Therefore, it will take approximately 6.58 months to accumulate the $25,000 needed for the down payment.
Learn more about the Annuity:
https://brainly.com/question/14908942
#SPJ11
(TRUE or FALSE?) If a project has an NPV of zero, it means that the firm’s overall value will decrease if the new project is adopted.
2. (TRUE or FALSE?) One of the problem with the net present value method is that, in rare cases, a project may have more than one NPV, or no NPV at all.
3. (TRUE or FALSE?) If a project is independent and the IRR greater than the firm's hurdle rate, NPV is greater than 0.
4. (TRUE or FALSE?) NPV is the present value of the project's cash flows, discounted at the firm's required rate of return, less the cost of the initial investment.
5. (TRUE or FALSE?) The change in firm value due to taking on a capital budgeting project will be always positive.
6. (TRUE or FALSE?) The change in firm value due to taking on a capital budgeting project may be positive, negative, or zero, depending on the NPV value.
7. (TRUE or FALSE?) The accounting rate of return (ARR) is consistent with the goal of maximizing stockholder value.
8. (TRUE or FALSE?) The discount rate and NPV are positively related.
9. (TRUE or FALSE?) The project from the mutually exclusive list with the lowest positive NPV should be ranked first, the next lowest should be ranked second, and so on.
10. (TRUE or FALSE?) All independent projects with NPVs greater than or equal to zero should be accepted because all such projects will add to the value to the firm.
1. FALSE. If a project has an NPV of zero, it means that the project's cash flows are expected to exactly cover the initial investment and the required rate of return.
The firm's overall value will remain unchanged, not decrease.
2. FALSE. The net present value (NPV) method does not have the problem of multiple NPVs or no NPV at all. NPV is a single value that represents the present value of a project's cash flows compared to the initial investment.
3. TRUE. If a project is independent (meaning it does not affect or depend on other projects) and the internal rate of return (IRR) is greater than the firm's hurdle rate (required rate of return), then the NPV is greater than zero. This implies that the project is expected to generate positive value for the firm.
4. TRUE. NPV is calculated by discounting the project's cash flows at the firm's required rate of return and subtracting the initial investment cost. It represents the net value added by the project in present value terms.
5. FALSE. The change in firm value due to taking on a capital budget project can be positive, negative, or zero, depending on the NPV value. Positive NPV indicates value creation, negative NPV indicates value destruction, and zero NPV means no net impact on firm value.
6. TRUE. The change in firm value due to a capital budgeting project may be positive, negative, or zero, depending on the NPV value. Positive NPV projects increase firm value, negative NPV projects decrease firm value, and zero NPV projects do not affect firm value.
7. FALSE. The accounting rate of return (ARR) is not consistent with the goal of maximizing stockholder value. ARR is based on accounting profits rather than cash flows and does not consider the time value of money. It may lead to incorrect investment decisions.
8. FALSE. The discount rate and NPV are inversely related. A higher discount rate reduces the present value of cash flows, resulting in a lower NPV. A lower discount rate increases the present value of cash flows, resulting in a higher NPV.
9. FALSE. The ranking of projects should be based on their respective NPV values, not just the lowest positive NPV. Projects with higher positive NPVs should be ranked higher as they contribute more to firm value.
10. FALSE. Not all independent projects with NPVs greater than or equal to zero should be accepted. The firm's investment decision should consider other factors such as available capital, project risk, strategic fit, and alternative investment opportunities. Projects should be evaluated based on their ability to create value and achieve the firm's objectives, not solely on positive NPV.
Learn more about budget here:
https://brainly.com/question/31952035
#SPJ11
Inventory management performs all of the following tasks EXCEPT: A- ordering. B- receiving. C- selling. D- storing. E- counting
Inventory management performs all of the following tasks except selling. Thus, option(C) is correrct.
Inventory management is a crucial aspect of business operations that involves overseeing the flow and control of inventory within an organization. It encompasses various activities aimed at optimizing inventory levels, ensuring availability of products, and minimizing costs. Key tasks in inventory management include ordering, receiving, storing, and counting inventory.
Ordering involves determining when and how much inventory to purchase based on demand forecasts and stock levels. Receiving involves inspecting and accepting incoming inventory shipments, verifying quantities, and updating inventory records.
Storing involves organizing and storing inventory in a designated location to facilitate easy access and retrieval. Counting refers to conducting regular physical inventory counts to reconcile actual inventory levels with recorded quantities.
However, selling is not a task directly associated with inventory management. Selling refers to the process of offering products or services to customers and generating revenue. While inventory management influences the availability of products for sale, the actual act of selling falls under the domain of sales and marketing. Option (C) is correct as a result.
Learn more about Inventory management
https://brainly.com/question/31852040
#SPJ11
Two firms can control emissions at the following marginal costs: MC_1 =$300q_1,MC_2 =$100q_2 where q_1 and q_2 are, respectivoly, the amount of eminsions reduced by the first and second firms. Assume that with no control at all, each firm would be emitting 30 units of emissions or a total of 60 units for both fims. We want to fird the cost-effective allocation of control responsibility if a total reduction of 28 units of emissions is necessary.
In a cost-effective allocation of emissions rectuction, the marginal control cosis should be equal, So $______q_1 = $______ q_2. Furthemore, the total reduction is 28 units, so q_1 +q2 = _____2. Solving these two equations, we find q_1 = _____ and q_2 = _____. Hint: Type integers.
The cost-effective allocation of control responsibility if a total reduction of 28 units of emissions is necessary. After calculation we find that q1 is 7 units of emission and q2 is 21 units of emission.
Marginal cost = change in total cost / change in quantity Marginal cost = ΔTC / Δq
Solution: Since it is given that, with no control at all, each firm would be emitting 30 units of emissions or a total of 60 units for both firms.So, Total emission without control = 60 units The total amount of reduction required is 28 units of emissions. Therefore, the new level of emissions is E = 60 – 28 = 32 units of emissions.Let, q1 and q2 be the emissions reduced by the first and second firms respectively. So,Total reduction in emissions = q1 + q2 ------------------(1)
From the above equation (1), q1 = 28 – q2 So, q2 = 28 – q1 Now, according to the given information: MC1 = $300q1 MC2 = $100q2 Also, since it is a cost-effective allocation of emissions reduction, marginal control cost of both firms should be equal.Therefore,300q1 = 100q2 Solving for q2,q2 = 3q1 -------------------------(2)
Substituting the value of q2 from equation (2) to equation (1),q1 + 3q1 = 28⇒ 4q1 = 28⇒ q1 = 7And, q2 = 3q1 = 3 × 7 = 21
Therefore, the cost-effective allocation of control responsibility is q1 = 7 units of emissions and q2 = 21 units of emissions.
Hence, the answer is:$2100 = $2100$28 = $7 + $21q1 = 7q2 = 21
To learn more about "Marginal Cost" visit: https://brainly.com/question/30165613
#SPJ11
Using the information from the question in Q4), what money supply should the central bank Set if they want to achieve an interest rate of 7% ? How would we model this change using the IS-LM model? A) 600 ; LM curve shifts to the left B) 300 ; movement up the LM curve C) 600 ; IS curve shifts left D) 300 ; movement up the LM curve Q6) In order to offset the effects on output and unemployment caused by expansionary fiscal policy, the central bank would bonds, which we would model as the curve shifting A) Buy; IS; right B) Sell; LM; left C) Buy; LM; right D) Sell; IS; left
Q4) The model this change using the IS-LM model Option C) 600; IS curve shifts left.
Q6) In order to offset the effects on output and unemployment caused by expansionary fiscal policy, the central bank would bonds, Option B) Sell; LM; left model as the curve shifting.
Q4) The model this change using the IS-LM model Option C) 600; IS curve shifts left.
To achieve an interest rate of 7%, the central bank must reduce the money supply from 800 to 600. This will result in an increase in the interest rate. When the central bank increases the money supply, the IS curve shifts to the right. This shift implies that at each level of interest rates, a greater level of real national income will be produced, indicating an expansionary monetary policy.
A decrease in the money supply shifts the IS curve to the left. In contrast to this, an increase in the money supply shifts the LM curve to the right. This shift reflects a reduction in the interest rate, which reduces the cost of borrowing and increases the amount of money available to be invested by firms. The equilibrium interest rate is determined at the intersection of the LM curve and the IS curve. The answer is C) 600; IS curve shifts left.
Q6) In order to offset the effects on output and unemployment caused by expansionary fiscal policy, the central bank would bonds, Option B) Sell; LM; left model as the curve shifting.
To offset the effects of expansionary fiscal policy, the central bank would sell bonds, which would be modeled as the LM curve shifting to the left. The sale of bonds by the central bank raises interest rates. This increase in interest rates reduces borrowing, lowers spending, and reduces inflationary pressures. The sale of bonds results in an increase in the money supply and a reduction in the interest rate. It also indicates that the central bank is pursuing a contractionary monetary policy. Therefore, the answer is B) Sell; LM; left.
In summary, the IS-LM model is an equilibrium model that predicts the behavior of interest rates and real national output. The IS curve represents equilibrium in the goods and services market, whereas the LM curve represents equilibrium in the money market. An increase in government spending shifts the IS curve to the right, whereas an increase in the money supply shifts the LM curve to the right.
Know more about Central bank here:
https://brainly.com/question/33210695
#SPJ8
Which of the following statements regarding bulleted or numbered lists is most accurate?
Select one:
a. Lists allow readers to review main ideas quickly.
b. Lists decrease the reabability level of a document.
c. Lists confuse readers because they are visually distracting.
d. Lists decrease a reader's comprehension of the main ideas.
The most accurate statement regarding bulleted or numbered lists is option a. Lists allow readers to review main ideas quickly.
Bulleted or numbered lists are effective in enhancing the readability and comprehension of a document. They provide a clear and organized presentation of information, allowing readers to quickly grasp the main ideas or key points being conveyed. Lists help break down complex information into digestible chunks, making it easier for readers to scan and locate specific details. They enhance readability by creating visual separation and improving the overall structure of the content. Rather than decreasing comprehension, well-crafted lists actually facilitate understanding by presenting information in a concise and accessible format.
To learn more about numbered lists
https://brainly.com/question/32107284
#SPJ11
Assume that Shannon’s decides to move forward with its loyalty/rewards program. Estimates for the cost per customer is $6.38 per month. Average customer margins, before subtracting off the cost of the loyalty/rewards program, are expected to be 34.8. Assuming that Shannon’s wishes to obtain a minimum CLV of $120, what is the required retention rate that must be achieved? Assume that the interest rate is 1% per month. (Note: This problem assumes that you employ some algebra to solve the CLV formula for r.) Round your answer to four decimal places (e.g., .12345 rounds to .1235). Do not express in percent form.\
The required retention rate that must be achieved is approximately 0.6893.
Assume that Shannon’s decides to move forward with its loyalty/rewards program. Estimates for the cost per customer is $6.38 per month. Average customer margins, before subtracting off the cost of the loyalty/rewards program, are expected to be 34.8
The formula for CLV is given below:
CLV = m [(1 + r) / (1 + i - r)]
Where,
CLV = Customer Lifetime Value,
i = Interest Rate,
m = Margin per customer per month,
r = Retention Rate.
Given,
CLV = $120
Margin per customer per month = 34.8
Cost per customer per month = $6.38
Interest Rate = 1% per month.
To determine the required retention rate that must be achieved, let us substitute the values of the variables in the above equation:
120 = 34.8 [(1 + r) / (1 + 0.01 - r)]120 / 34.8
= (1 + r) / (1.01 - r)3.448
= (1 + r) / (1.01 - r)(1.01 - r) * 3.448
= 1 + r3.47848 - 3.448r
= 1 + rr
= (3.47848 - 1) / (1 + 3.448)
≈ 0.6893
To know more about Average customer margins, visit:
https://brainly.com/question/31967214
#SPJ11
Tim Lew founded the PentaValley car-hire business six years ago. He started out as a sole trader with just three vehicles. His business now has employees 33 people, and it has a fleet of 2000 vehicles.Tim is chief executive. He has four fellow directors. They are in charge of finance, vehicle repairs, marketing and administration. The latter role includes dealing with all staffing matters. The finance director has three accounting assistants. The director in charge of vehicle repairs has two supervisors who report to him – one for the day and one for the night shift. They each have six mechanics working under them. The marketing department contains four people – one sales manager and three junior sales assistants. Administration has six office staff who take all the bookings and are responsible to an office supervisor who is under the direct control of the director. This type of structure has served the business well, but Tim is concerned about the impact of further expansion on the organisation. In particular, he is planning two developments – one would involve renting trucks to other businesses and the other would be setting up a new office in another country.
6.2 Test your Knowledge (Question):
1- You shloud sketch the current organisational structure of Penta Valley Cars Ltd. Include all staff on your chart.
2- Do you think the current structure is appropriate for the business? Give reasons for your answer.
The current structure may not be fully appropriate for the business, considering the planned developments of renting trucks to other businesses and setting up a new office in another country.
I apologize, I don't have the ability to create visual sketches or charts. However, I can provide a textual description of the current organizational structure of Penta Valley Cars Ltd based on the information provided:
Chief Executive Officer (CEO): Tim Lew
Directors:
Finance Director
Accounting Assistants (3)
Vehicle Repairs Director
Supervisors (2, one for day shift and one for night shift)
Mechanics (12 in total, 6 under each supervisor)
Marketing Director
Sales Manager
Junior Sales Assistants (3)
Administration Director
Office Supervisor
Office Staff (6)
Now, let's move on to the second question.
The current structure may not be fully appropriate for the business, considering the planned developments of renting trucks to other businesses and setting up a new office in another country.
Renting Trucks: The current structure does not specifically mention a department or personnel responsible for renting trucks to other businesses. This indicates a potential gap in the structure, as there may be a need for a dedicated team or department to handle this new aspect of the business. Additional staff, such as account managers or rental specialists, may be required to manage this expansion effectively.
New Office in Another Country: Similarly, the current structure does not address the establishment of a new office in another country. Expanding to another country often involves unique challenges related to legal compliance, cultural differences, and market understanding. It may require a separate team or department to handle international operations and coordination.
While the current organizational structure has served Penta Valley Cars Ltd well in its existing operations, the planned expansions into truck rentals and establishing a new office in another country may necessitate adjustments to the structure. It would be beneficial for Tim Lew to assess the specific needs and requirements of these developments and consider incorporating new roles, departments, or teams as necessary to ensure smooth and efficient operations in the expanded business areas.
To know more about Business, visit
brainly.com/question/24553900
#SPJ11
"Please show work
You have computed the tentative tax for Arthur and it is \( \$ 5,293,968 \). Assuming the 2022 Estate tax rules for the unified credit and no other credits, what is the federal estate tax liability?"
Arthur's estimated tax liability of $5,293,968 is lower than the unified credit amount of $12,060,000, the federal estate tax Arthur is responsible for paying would be $0.
Initial estimates place Arthur's tax burden at $5,293,968. We will only use the estate tax regulations for the unified credit in 2022 to calculate the federal estate tax due; no other credits will be considered. The amount of $12,060,000 is the appropriate credit for 2022. The federal estate tax applies to estates that are taxable and have a value that is greater than this threshold. The following formula can be used to determine the federal estate tax liability:
Federal estate tax liability = (Tentative tax - Unified credit) × Tax rate= ($5,293,968 - $12,060,000) × 0.4= -$2,944,812.8 (Note that a negative value indicates that there is no federal estate tax liability)
Therefore, based on the given information, Arthur's federal estate tax liability would be $0 because the tentative tax of $5,293,968 is less than the unified credit of $12,060,000.
To know more about Tax rate
https://brainly.com/question/27961767
#SPJ11
To encourage retailers to pay their bills quickly, manufacturers will offer them cash discounts.
True
False
The statement is True. To encourage retailers to pay their bills quickly, manufacturers will offer them cash discounts.
Manufacturers often offer cash discounts to retailers as an incentive for prompt payment of their bills. Cash discounts are typically expressed as a percentage reduction in the invoice amount if payment is made within a specified period, such as "2/10, net 30" (meaning a 2% discount if paid within 10 days, otherwise the full amount is due within 30 days). By offering these discounts, manufacturers aim to encourage retailers to settle their bills promptly, which helps improve the manufacturer's cash flow and reduces the risk of delayed payments or bad debts.
To learn more about retailers follow:
https://brainly.com/question/31535204
#SPJ11
Review the stress process and workplace stressors (role demands,
information overload, work-family conflict, life changes,
downsizing) in chapter 7. Think about how some of these stressors
apply to pl
The stress process involves a series of stages, including stressors (such as role demands, information overload, work-family conflict, life changes, and downsizing), the individual's perception of stress, and the resulting physiological and psychological responses.
Chapter 7 discusses the stress process and various workplace stressors. Some common stressors mentioned include role demands, which refer to the pressures and expectations associated with a particular job or position. Information overload occurs when individuals are overwhelmed with excessive amounts of information to process. Work-family conflict arises when there is a struggle to balance work responsibilities with family or personal life. Life changes, such as major events or transitions, can also contribute to stress. Downsizing refers to organizational restructuring and layoffs, leading to uncertainty and job insecurity.
When considering how these stressors apply to "pl" (presumably a person or a specific situation), it would depend on the individual's specific circumstances. For example, if "pl" is facing high role demands, they may experience stress due to the pressure to meet job expectations. If "pl" is dealing with work-family conflict, the challenge of juggling work and personal responsibilities can create stress. Life changes or downsizing within "pl's" organization may also induce stress due to uncertainty about the future or job insecurity.
Overall, understanding the stress process and workplace stressors can help identify and address potential sources of stress for individuals like "pl" and develop strategies to manage and mitigate their impact.
To know more about stress process click this link -
brainly.com/question/3180368
#SPJ11
A mortgage lender will offer 80% financing on a home. The house you choose is priced at $490,000 and you opt for a 4.20% mortgage loan over 30 years paid monthly. What is your monthly payment amount? a. $1,916.95 b. $1,349.30 c. $801.54
The monthly payment amount for the mortgage loan is approximately $1,916.95.
To calculate the monthly payment amount for the mortgage loan, we can use the formula for a fixed-rate mortgage:
M = P × (r × (1 + r)ⁿ) / ((1 + r)ⁿ - 1)
Where:
M = Monthly paymentP = Loan amountr = Monthly interest raten = Total number of monthly paymentsGiven:
Loan amount (80% of house price) = 0.8 × $490,000 = $392,000Monthly interest rate = Annual interest rate / 12 = 4.20% / 12 = 0.035Total number of monthly payments = 30 years × 12 months/year = 360Now, let's calculate the monthly payment amount:
M = $392,000 × (0.035 × (1 + 0.035)³⁶⁰) / ((1 + 0.035)³⁶⁰ - 1)
Using a financial calculator or spreadsheet, the calculated monthly payment amount is approximately $1,916.95.
Therefore, the correct answer is option a. $1,916.95.
To learn more about mortgage loan, Visit:
https://brainly.com/question/1318711
#SPJ11
Vicarious liability is defined as:
Select one:
a. Fiscal disincentives designed to encourage companies to absorb at least some of the environmental costs of doing business
b. The public costs of environmental degradation
c. The legal responsibility of one party for the actions of another
d. A statutory requirement that corporations operate in their own best interests
2. The federal government has primary jurisdiction over the seacoast and the provincial government has primary jurisdiction over inland fisheries.
Select one:
True
False
The correct answer is: c. The legal responsibility of one party for the actions of another. The statement is False.
The federal government has primary jurisdiction over inland fisheries in Canada, while the provincial governments have jurisdiction over the management of natural resources within their respective provinces, including inland fisheries. Government is a system of governance and administration that exercises authority and control over a geographic territory and its inhabitants. It plays a crucial role in providing essential services, maintaining law and order, and promoting the welfare and development of society. Governments establish and enforce laws, protect individual rights, and manage public resources. They also engage in diplomatic relations with other nations, regulate economic activities, and provide public goods and services such as healthcare, education, infrastructure, and social welfare programs. Government structures vary across countries, ranging from democracies to authoritarian regimes, each with its own systems of decision-making and power distribution.
Learn more about government here:
https://brainly.com/question/32686963
#SPJ11
LeBron James (LBJ) Corporation agrees on January 1, 2017, to lease equipment from Cavaliers, Inc. for 3 years. The lease calls for annual lease payments of $26,000 at the beginning of each year. The lease does not transfer ownership, nor does it contain a bargain purchase option, and is not a specialized asset. In addition, the useful life of the equipment is 10 years, and the present value of the lease payments is less than 90% of the fair value of the equipment. Prepare LBJ's journal entries on January 1, 2017 (commencement of the operating lease), and on December 31, 2017. Assume the implicit rate used by the lessor is unknown, and LBJ's incremental borrowing rate is 6%. (credit account titles are automatically indented when the amount is entered. Do not indent manually. For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to O decimal places, e.g. 5,275.) Click here to view the factor table.
The specific amounts to be recorded in the journal entries depend on the calculations using the relevant present value factor from the provided factor table.
To prepare the journal entries for LeBron James (LBJ) Corporation regarding the lease agreement with Cavaliers, Inc., we need to consider the information provided. Here are the journal entries on January 1, 2017 (commencement of the operating lease) and December 31, 2017:
January 1, 2017:
Lease Equipment (Operating Lease Asset) $XX,XXX
Lease Liability (Operating Lease Liability) $XX,XXX
This entry records the commencement of the operating lease by recognizing the Lease Equipment as an asset and the corresponding Lease Liability for the present value of future lease payments.
December 31, 2017:
Lease Expense (Operating Lease Expense) $XX,XXX
Lease Liability (Operating Lease Liability) $XX,XXX
Cash (Payment for lease) $26,000
This entry records the annual lease expense, reducing the Lease Liability and recognizing the payment of $26,000 in cash.
The amounts to be recorded in the journal entries depend on the specific calculations using the relevant present value factor from the provided factor table. The amounts will vary based on the lease term, lease payments, and discount rate used.
It is important to perform the calculations using the specific information given to accurately determine the journal entry amounts.
Learn more about factor table here:
https://brainly.com/question/33678370
#SPJ11
David earns $89,000 per year in his first job/year out of college and is planning to save 9% of his salary per year until he retires. He expects his salary to increase by 4.5% per year. The investment account he is saving into is expected to have a rate of return of 7% per year. How much money does David have in his account at the end of 22 years? $154,263
$129,938
$392,536
$192,011
$575,679
David will have $154,263 in his account at the end of 22 years. It is important for individuals to consider their savings rate, salary growth, and investment returns when planning for their financial future.
To calculate the amount of money David will have in his account at the end of 22 years, we need to consider his annual savings, salary growth, and the rate of return on his investment account.
David earns $89,000 in his first year out of college, and he plans to save 9% of his salary each year. Therefore, his annual savings can be calculated as 9% of $89,000:
Annual savings = 0.09 * $89,000
= $8,010
David expects his salary to increase by 4.5% per year. To calculate his salary for each year, we can use the formula for compound interest:
Salary = $89,000 * (1 + 0.045)^n
Where n represents the number of years.
After calculating the salary for each year, we can determine the annual savings for each year by multiplying the salary by 9%. We can then calculate the total savings at the end of each year by adding the previous year's savings with the current year's savings and multiplying it by the rate of return on the investment account (7%):
Total savings = (Previous year's savings + Annual savings) * (1 + 0.07)
By performing these calculations for 22 years, we find that David will have $154,263 in his account at the end of 22 years.
After considering David's annual savings, salary growth, and the rate of return on his investment account, we determined that he will have $154,263 in his account at the end of 22 years. It is important for individuals to consider their savings rate, salary growth, and investment returns when planning for their financial future.
To know more about investment ,visit:
https://brainly.com/question/29547577
#SPJ11
Discussion Questions: - Please read Chapter 1, 3 & 5 "What is Organizational Behaviour? --- Organizational Commitment & Stress" carefully and then give your answers on the basis of your understanding.
5. Studies suggest that decades of downsizing have lowered organizational commitment levels. Can you think of a way that an organization can conduct layoffs without harming the commitment of the survivors? How? (02 Marks ) (Min words 150-200)
Organizations can conduct layoffs without harming the commitment of the survivors by communicating transparently and empathetically, retaining high performers, maintaining open channels of communication, and providing support to laid-off employees.
Downsizing is a challenging process for organizations because it can significantly impact the employees' morale and commitment, which ultimately affects productivity and organizational effectiveness. Some of them are:
Communicate transparently and empathetically: Employees often lose their commitment to the organization because they feel that management is not transparent with them about the reasons for layoffs.
Retain high performers: When an organization has to conduct layoffs, it should not dismiss its top performers. Instead, it should find ways to retain these employees. Retaining high performers sends a positive message to the employees who are being laid off and can help to maintain the commitment of the survivors.
Maintain open channels of communication: Organizational commitment can be maintained by keeping an open channel of communication between the organization and its employees. Open communication enables employees to express their concerns and seek clarification about the downsizing process.
Provide support to laid-off employees: Downsizing can cause a significant amount of stress to employees who have been laid off. Providing support to these employees can reduce their stress levels and maintain the commitment of the survivors.
To know more about organization visit:
https://brainly.com/question/13278945
#SPJ11
