The expected daily cost of maintaining a fleet of 10,000 scooters is £560.
To calculate the expected daily cost of maintaining a fleet of 10,000 scooters, we need to consider the probabilities of scooters transitioning between different conditions and the cost associated with each condition.
Let's break down the problem and calculate the expected cost step by step:
Calculate the number of scooters in each condition:
Good condition: 10,000 scooters
Fair condition: 0 scooters initially (assuming all scooters start in good condition)
Poor condition: 0 scooters initially (assuming all scooters start in good condition)
Broken down: 0 scooters initially (assuming all scooters start in good condition)
Calculate the number of scooters that transition from one condition to another:
Good to fair: 0.12 * 10,000 = 1,200 scooters
Good to poor: 0.06 * 10,000 = 600 scooters
Fair to poor: 0.15 * 1,200 = 180 scooters
Calculate the number of scooters in each condition after the transitions:
Good condition: 10,000 - 1,200 - 600 = 8,200 scooters
Fair condition: 1,200 - 180 = 1,020 scooters
Poor condition: 600 + 180 = 780 scooters
Calculate the expected cost for each condition:
Good condition cost: 0 scooters in this condition
Fair condition cost: 1,020 * £0 = £0
Poor condition cost: 780 * £0 = £0
Broken down cost: 0 scooters in this condition
Calculate the expected cost of replacing broken down scooters:
Broken down cost: 0.02 * 8,200 + 0.05 * 1,020 + 0.20 * 780 = £560
Calculate the total expected daily cost:
Total cost = Broken down cost = £560
Know more about daily costhere:
https://brainly.com/question/8059438
#SPJ11
please show all work
Ch #2: Financial Statements (Chall... (i) Use the following information for Ingersoll, Incorporated. Assume the tax rate is 24 percent. 10 points eBook 63 Hint References For 2021, calculate the cash
In 2021, Ingersoll, the cash flow from operations for Ingersoll, Incorporated in 2021, after considering the tax rate, is $106,400.
To calculate the cash flow from operations for Ingersoll, Incorporated in 2021, we need the following information:
Net income: This is the company's total earnings after deducting all expenses and taxes. Let's assume the net income for Ingersoll, Incorporated in 2021 is $100,000.
Depreciation and amortization: This represents the non-cash expenses associated with the wear and tear of the company's assets over time. Let's assume the depreciation and amortization expense for Ingersoll, Incorporated in 2021 is $50,000.
Increase in accounts receivable: This measures the change in the amount of money owed to the company by its customers. Let's assume there was an increase of $20,000 in accounts receivable in 2021.
Increase in accounts payable: This measures the change in the amount of money the company owes to its suppliers. Let's assume there was an increase of $10,000 in accounts payable in 2021.
To calculate the cash flow from operations, we can use the formula:
Cash flow from operations = Net income + Depreciation and amortization - Increase in accounts receivable + Increase in accounts payable
Substituting the given values, we get:
Cash flow from operations = $100,000 + $50,000 - $20,000 + $10,000 = $140,000
Since the tax rate is 24 percent, we can calculate the after-tax cash flow from operations by multiplying it with (1 - tax rate)
After-tax cash flow from operations = $140,000 * (1 - 0.24) = $106,400
Therefore, the cash flow from operations for Ingersoll, Incorporated in 2021, after considering the tax rate, is $106,400.
Learn more about cash flow here:
https://brainly.com/question/27994727
#SPJ11
How much should Ashley's dad invest into a savings account today, to be able to pay for Ashley's rent for the next three years if rent is $850 payable at the beginning of each month? The savings account earns 3.50% compounded monthly. Round to the nearest cent
Ashley's dad should invest approximately $29,693.89 into a savings account today in order to cover Ashley's rent for the next three years if rent is $850 payable at the beginning of each month, given that the savings account earns 3.50% compounded monthly.
First, let's calculate the future value of the rent payments. Since rent is paid at the beginning of each month, there will be 36 rent payments over three years (12 months/year × 3 years = 36 months). Each payment is $850.
Using the formula for the future value of a series of monthly payments with compound interest:
FV = P ×[(1 + r)ⁿ⁻¹] / r
Where:
FV = Future Value
P = Monthly payment amount
r = Monthly interest rate
n = Number of payments
In this case:
P = $850
r = 3.50% / 100 = 0.035 (monthly interest rate)
n = 36
Now let's calculate the future value:
FV = $850 × [(1 + 0.035)³⁶⁻¹] / 0.035
FV ≈ $34,202.27
The future value of the rent payments over three years is approximately $34,202.27.
To calculate the present value, we use the formula:
PV = FV / (1 + r)ⁿ
Where:
PV = Present Value
FV = Future Value
r = Monthly interest rate
n = Number of periods
In this case:
FV = $34,202.27
r = 0.035 (monthly interest rate)
n = 36
PV = $34,202.27 / (1 + 0.035)³⁶
PV ≈ $29,693.89
Therefore, Ashley's dad should invest approximately $29,693.89.
Learn more about future value https://brainly.com/question/30390035
#SPJ11
Nav-Go Etnterprises Inc. produces aeronautical navigation equipment. The stockholders' equity accounts of Nav-Go Enterprises Inc., with balances on January 1,2014 , are as follows:
The following selected transactions occurred during the year:
Common stock %5 stated value (900,000 shares authorized, 620,000 shares issued)……….. $3100,000
Paid in capital in excess of stated value common stock…. 1240,000
Retained earning…………. 4875,000
Treasurey stock (48,000 shares at cost)………….. 288,000
The following selected transactions occurred during the year:
Jan. 15. Paid cash dividends of $0.06 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $34,320.
Mar. 15. Sold all of the treasury stock for $6.75 per share.
Apr. 13. Issued 200,000 shares of common stock for $8 per share. June 14. Declared a 3% stock dividend on common stock, to be capitalized at the market price of the stock, which is $7.50 per share. July 16. Issued the certificates for the dividend declared on June 14.
Oct. 30. Purchased 50,000 shares of treasury stock for $6 per share.
Dec. 30. Declared a \$0.08-per-share dividend on common stock.
31. Closed the credit balance of the income summary account, $775,000. 31. Closed the two dividends accounts to Retained Earnings. Instructions:
1. Enter the January 1 balances in T accounts for the stockholders' equity accounts listed. Also prepare T accounts for the following: Paid-In Capital from Sale of Treasury Stock; Stock Dividends Distributable; Stock Dividends; Cash Dividends.
The T accounts show the balances of stockholders' equity accounts for Nav-Go Enterprises Inc. as of January 1, 2014, including Common Stock, Paid-In Capital, Retained Earnings, and Treasury Stock. Additional T accounts are provided for Paid-In Capital from Sale of Treasury Stock, Stock Dividends Distributable, Stock Dividends, and Cash Dividends.
Here are the T accounts for the stockholders' equity accounts and additional accounts:
Stockholders' Equity:
Common Stock:
Jan. 1, 2014
Common Stock ($5 stated value) | $3,100,000
Paid-In Capital in Excess of Stated Value Common Stock | $1,240,000
Retained Earnings | $4,875,000
Treasury Stock | $288,000
--------------------------------------------------------------
Total | $9,503,000
Additional T accounts:
Paid-In Capital from Sale of Treasury Stock:
Jan. 1, 2014
Paid-In Capital from Sale of Treasury Stock | $0
Stock Dividends Distributable:
Jan. 1, 2014
Stock Dividends Distributable | $0
Stock Dividends:
Jan. 1, 2014
Stock Dividends | $0
Cash Dividends:
Jan. 1, 2014
Cash Dividends | $0
Please note that the January 1 balances are provided as the initial balances for the respective accounts.
To know more about stockholders' equity accounts, refer to the link below:
https://brainly.com/question/30500557#
#SPJ11
In which of the following is a firm LEAST likely to diversify?
Group of answer choices
When firms seek to smooth earnings
When firms cannot easily differentiate in their focal market
When an expansion of capacity increases economies of scope
When a single business firm’s market share is close to 90%
A firm is least likely to diversify when its market share is close to 90%. When a single business firm has a dominant market share, it indicates that the firm is already highly successful and competitive in its current market. In such a scenario, the firm may not see the need to diversify because it is already capturing a significant portion of the market and likely experiencing economies of scale.
Diversification involves entering new markets or industries, which may require additional resources, expertise, and potential risks. If a firm already has a strong position in its focal market, it may choose to focus on leveraging its existing strengths and maintaining its dominant position rather than diverting resources towards diversification efforts. Instead, the firm may prefer to expand within its current market by seeking to smooth earnings or increasing economies of scope through capacity expansion, as stated in the other options.
Learn more about Diversification here: brainly.com/question/17151548
#SPJ11
Question 20 The level of aubut can be achieved by levying a tax on a company producing a pe at a level that is equal the marginal cost of a curve the social marginal cost curve the difference between
The optimal level of output can be achieved by levying a tax on a company producing a negative externality. This should be set at a level that is equal to the social marginal cost curve. Therefore, option b is the correct answer.
The optimal level of output, in the presence of a negative externality, can be achieved by levying a tax on the company responsible for the externality. This tax should be set at a level equal to the social marginal cost curve, which is the cost imposed on society due to the production of the good or service.
Option b) the social marginal cost curve is the correct answer. The social marginal cost takes into account the private marginal cost (the cost incurred by the firm) and the external cost imposed on society. By setting the tax equal to the social marginal cost, the negative externality is internalized, and the firm is incentivized to reduce its output to the socially optimal level.
Option a) the marginal cost curve refers only to the private cost incurred by the firm and does not account for the external cost imposed on society. Option c) the difference between the social marginal cost and the firm's marginal cost is an incomplete approach as it does not address the full social cost.
Option d) the total of the social marginal cost and the firm's marginal cost would overstate the tax burden on the firm, potentially leading to an output level that is below the socially optimal level.
In conclusion, to achieve the optimal level of output in the presence of a negative externality, the tax should be set at a level equal to the social marginal cost curve, which accounts for both the firm's marginal cost and the external cost imposed on society. Therefore, option b is the correct answer.
To know more about tax refer here:
https://brainly.com/question/28387066#
#SPJ11
Complete Question:
The optimal level of output can be achieved by levying a tax on a company producing a negative externality. This should be set a level that is equal to:
a. the marginal cost of a curve
b. the social marginal cost curve
c. the difference between the social marginal cost and the firm's marginal cost.
d. the total of the social marginal cost and the firm's marginal cost.
Batelco's stock is currently selling for $160.00 per share and the firm's dividends are expected to grow at 5 \\ Not yet & percent indefinitely. In addition, Batelco's most recent dividend was $5.50. If the expected risk-free rate of \end{tabular} return is 3 percent, the expected market return is 8 percent, and Batelco has a beta of 1.2, Batelco's stock would be Flag question a. undervalued b. not enough information to tell c. properly valued d. overvalued
To determine whether Batelco's stock is undervalued, overvalued, or properly valued, we can use the dividend discount model (DDM) and the capital asset pricing model (CAPM). The correct answer is d. overvalued.
The DDM formula is:
Stock Price = Dividend / (Required Return - Dividend Growth Rate)
The capital asset pricing model formula is:
Required Return = Risk-Free Rate + Beta * (Market Return - Risk-Free Rate)
Given the information provided:
Current stock price = $160.00Most recent dividend = $5.50Dividend growth rate = 5%Risk-Free Rate = 3%Market Return = 8%Beta = 1.2Using the CAPM formula:
Required Return = 3% + 1.2 * (8% - 3%) = 3% + 1.2 * 5% = 9%
Using the DDM formula:
Stock Price = $5.50 / (0.09 - 0.05) = $5.50 / 0.04 = $137.50
Comparing the calculated stock price ($137.50) with the current stock price ($160.00), we can see that the calculated stock price is lower. This suggests that Batelco's stock may be overvalued. Therefore, the correct answer is d. overvalued.
To learn more about capital asset pricing model, visit here
https://brainly.com/question/32230922
#SPJ11
The following were selected from among the transactions completed by Harrison Company during November of the current year: Nov. 3. Purchased merchandise on account from Moonlight Co., list price $77,000, trade discount 25%, terms FOB destination, 2/10, n 4. Sold merchandise for cash, $38,410. The cost of the merchandise sold was $23,610. 5. Purchased merchandise on account from Papoose Creek Co., $46,850, terms FOB shipping point, 2/10, n/30, with prepaid freigh 6. Returned $12,750 ($17,000 list price less trade discount of 25%) of merchandise purchased on November 3 from Moonlight Co. 8. Sold merchandise on account to Quinn Co., $16,620 with terms n/15. Journalize the transactions.
The transactions for Harrison Company during November, we will record each transaction separately.
Here are the journal entries for the given transactions:
Nov. 3:
Purchased merchandise on account from Moonlight Co.
Debit: Merchandise Inventory $57,750 [$77,000 - (25% x $77,000)]
Credit: Accounts Payable $57,750
Nov. 4:
Sold merchandise for cash
Debit: Cash $38,410
Credit: Sales $38,410
Debit: Cost of Goods Sold $23,610
Credit: Merchandise Inventory $23,610
Nov. 5:
Purchased merchandise on account from Papoose Creek Co.
Debit: Merchandise Inventory $46,850
Credit: Accounts Payable $46,850
Nov. 6:
Returned merchandise purchased on November 3 from Moonlight Co.
Debit: Accounts Payable $12,750
Credit: Merchandise Inventory $9,750 [$12,750 - (25% x $17,000)]
Credit: Purchase Returns and Allowances $3,000 [(25% x $17,000)]
Nov. 8:
Sold merchandise on account to Quinn Co.
Debit: Accounts Receivable $16,620
Credit: Sales $16,620
To record these journal entries, use the specific dates and accounts involved in each transaction. Additionally, ensure that the debits and credits balance for each entry.
Learn more about transactions here
https://brainly.com/question/24730931
#SPJ11
How long must successful agreements of purchase and sale and trade-related documents be retained by a broker to company with REBBA requirements?
Five years
One year
Six years
Three years
Successful agreements of purchase and sale and trade-related documents must be retained by a broker for a period of six years to company with REBBA requirements.
According to REBBA, the Real Estate and Business Brokers Act, the broker must maintain the documentation for successful agreements of purchase and sale and trade-related documents for a period of six years.
It is the responsibility of a broker to ensure that all documents are stored securely and accessible if required for regulatory purposes.The duration of six years helps to ensure that the broker is able to protect themselves in the case of any legal issues that may arise with a particular transaction.
To know more about REBBA visit:
https://brainly.com/question/30225679
#SPJ11
Dogs 4U Supplies Inc. is a popular chain of stores in the region; its finance department has asked for your help. The firm has provided the information shown below. Rounding to the nearest penny, what is Dogs 4 U Supplies' Earnings Per Share (EPS)? Revenue Accounts Receivable Interest Expense Total Operating Expense Current Liabilities Accounts Payable Cost of Goods Sold Preferred Stock Dividends Tax rate Shares Outstanding $13,612,658 $729,802 $269,708 $1,826,263 $411,872 $151,156 $3,144,335 $512,641 26.1% 718,699
Dogs 4 U Supplies' Earnings Per Share (EPS) is approximately $13.92.
To calculate Dogs 4 U Supplies' Earnings Per Share (EPS), we need to determine the net income first. Net income can be calculated using the formula:
Net Income = Revenue - Total Operating Expense - Interest Expense - Preferred Stock Dividends
Net Income = $13,612,658 - $1,826,263 - $269,708 - $512,641 = $10,004,046
Now that we have the net income, we can calculate the EPS using the formula:
EPS = Net Income / Shares Outstanding
EPS = $10,004,046 / 718,699
EPS ≈ $13.92 (rounded to the nearest penny)
Therefore, Earnings Per Share (EPS) is approximately $13.92.
To know more about Earnings Per Share (EPS), refer to the link below:
https://brainly.com/question/31968226#
#SPJ11
"Alvar Nunez Cabeza de Vaca Rugged Castaway" in the American Perspectives E-Reader ,How does the author develop the main idea?
The author develops the main idea by discussing the experiences and challenges that how he was able to survive and adapt to the new environment.
In the American Perspectives E-Reader,
The author develops the main idea of "Alvar Nunez Cabeza de Vaca: Rugged Castaway" by discussing the experiences and challenges that Cabeza de Vaca faced during his time as a castaway and how he was able to survive and adapt to the new environment.
Key Points:
Alvar Nunez Cabeza de Vaca was a castaway who faced a number of challenges during his time in the wilderness.
The author discusses the various challenges that Cabeza de Vaca faced during his time as a castaway and how he was able to survive.
The author also discusses how Cabeza de Vaca was able to adapt to his new environment and the impact that his experiences had on his life and outlook.
To learn more about new environment from the given link.
https://brainly.com/question/24182291
#SPJ11
An analysis of company performance using DuPont analysis A sheaf of papers in her hand, your friend and colleague, Chloe, steps into your office and asked the following. CHLOE: Do you have 10 or 15 minutes that you can spare? You: Sure, t've got a meeting in an hour, but I don't want to start something new and then be interrupted by the meeting, so how can I help? CHLOE: I've been reviewing the company's financial statements and looking for ways to improve our performance, in general, and the company's return on equity, or ROE, in particular. Eric, my new team leader, suggested that 1 start by using a DuPont analysis, and I'd like to run my numbers and conclusions by you to see whether I've missed anything. Here are the balance sheet and income statement data that Eric gave me, and here are my notes with my calculations. Could you start by making sure that my numbers are correct? You: Give me a minute to look at these financial statements and to remember what 1 know shout the DuPont analysis. If I remember correctly, the DuPont equation breaks down our ROE into three component ratios: the , the total asset turnover ratio, and the And, according to my understanding of the DuPont equation and its calculation of ROE, the three ratios provide insights into the company's , effectiveness in using the company's assets, and Now, let's see your notes with your ratios, and then we can talk about possible strategles that will improve the ratios. I'm going to check the box to the side of your calculated value if your calculation is correct and leave it unchecked if your calculation is Incorrect. Hydra Cosmetles Inc. DuPont Analysis CHLOE: OK, it looks like I've got a couple of incorrect values, so show me your calculations, and then we can talk strategies for improvement. YoU: I've just made rough calculations, so let me complete this table by inputting the components of each ratio and its value: Do not round intermediate calculations and round your final answers up to two decimals. Hydra Cosmetics Inc. DuPont Analysis CHLOE: I see what I did wrong in my computations. Thanks for reviewing these calculations with me. You saved me from a lot of embarrassmenti Eric would have been very disappointed in me if I had showed him my original work. So, now let's switch topics and identify general strategies that could be used to positively affect Hydra's RoE. YOU: OK, so given your knowledge of the component ratios used in the DuPont equation, which of the following strategies should improve the company's ROE? Check an that apply. Decrease the company's use of debt capital because it will decrease the equity multiplier. Decrease the amount of debt financing used by the company, which will decrease the total wents turnover ratio. Increase the firm's bottom-line profitability for the same volume of sales, which will inci Reduce the company's operating expenses, its cost of goods sold, and/or the interest rate on its borrowed funds because this will increas the company's net profit margin. CHLOE: 1 think 1 understand now. Thanks for taking the time to go over this with me, and let me know when I can return the favor.
The following strategies should improve the company's ROE Increase the net profit margin. This can be done by reducing operating expenses, cost of goods sold, and/or the interest rate on borrowed funds.
Increase the total asset turnover ratio. This can be done by increasing sales or by reducing the amount of assets needed to generate sales.
Decrease the equity multiplier. This can be done by using less debt financing.
The DuPont analysis breaks down ROE into three component ratios: the net profit margin, the total asset turnover ratio, and the equity multiplier. The net profit margin measures how much profit a company makes from each dollar of sales.
The total asset turnover ratio measures how effectively a company uses its assets to generate sales. The equity multiplier measures how much debt a company uses to finance its assets.
By increasing the net profit margin, a company can increase its ROE without having to increase sales or assets. This can be done by reducing operating expenses, cost of goods sold, and/or the interest rate on borrowed funds.
By increasing the total asset turnover ratio, a company can increase its ROE without having to increase its net profit margin. This can be done by increasing sales or by reducing the amount of assets needed to generate sales.
By decreasing the equity multiplier, a company can increase its ROE without having to increase its net profit margin or total asset turnover ratio. This can be done by using less debt financing.
By implementing these strategies, a company can improve its ROE and increase its profitability.
To know more about assets click here
brainly.com/question/29806447
#SPJ11
Tyson Chandler Company's sales budget projects unit sales of part 1982 of 10,500 units in January, 12,000 units in February, and 13,000 units in March. Each unit of part 198Z requires 2 kg of materials. which cost $2 per kilogram. Tyson Chandler Company wants its ending raw materials inventory to equal 40% of the next month's production requirements, and its ending finished goods inventory to equal 25% of the next month's expected unit sales. These goals were met at December 31,2019. Prepare a production budget for January and February 2020 .
The production budget for January and February 2020 will require 21,000 and 24,000 kilograms of materials respectively. The total cost of materials will be $42,000 for January and $48,000 for February.
The first step in preparing a production budget is to calculate the number of units required to meet sales needs, including the desired ending finished goods inventory. For January, 13,000 units + (13,000 x 0.25) = 16,250 units are needed. For February, 15,000 units + (15,000 x 0.25) = 18,750 units are needed. Each unit requires 2 kg of materials, so January will require 16,250 x 2 = 32,500 kg of materials, and February will require 18,750 x 2 = 37,500 kg of materials. Materials cost $2 per kilogram, so January's material cost will be $32,500 x $2 = $<<32500*2=65000>>65,000, and February's material cost will be $37,500 x $2 = $<<37500*2=75000>>75,000.
The sales forecast and the planned amount of finished goods inventory to have on hand (usually as safety stock to cover for unexpected increases in demand) are used in the production budget to determine the number of products that must be manufactured.
Know more about production budget, here:
https://brainly.com/question/31869273
#SPJ11
Japanese automakers penetrate the US auto markets by joint ventures and also direct exports from Japan. The US usually imposes tariffs (or import taxes on Japanese cars sold in US) or simply quotas (number of cars that can be exported to US per year).
In your opinion, do Japanese automakers prefer a tariff or a quota on their U.S. auto exports? Explain.
Japanese automakers would generally prefer a tariff over a quota on their U.S. auto exports. Tariffs allow them more flexibility in adjusting prices and quantities, while quotas limit the number of cars they can export.
Japanese automakers would generally prefer a tariff over a quota on their U.S. auto exports for several reasons. Firstly, tariffs allow them more flexibility in adjusting prices and quantities to suit market conditions.
With a tariff, they can increase or decrease the price of their cars to mitigate the impact of the tax, ensuring that their products remain competitive in the U.S. market. They can also adjust the quantity of exports based on demand fluctuations and production capabilities.
On the other hand, quotas impose a strict limit on the number of cars that can be exported to the U.S. market. This limitation can constrain their market share and growth potential. Quotas also create uncertainty and can lead to supply constraints if demand exceeds the allocated quota, potentially resulting in missed business opportunities.
However, the preference for tariffs or quotas may vary based on specific circumstances and strategic considerations. For instance, if Japanese automakers have excess production capacity or face significant competition in the U.S. market, they may prefer quotas to limit the supply and maintain higher prices.
Additionally, factors such as political considerations, trade agreements, and bilateral negotiations between countries can also influence the preference for tariffs or quotas.
Learn more about tariff here:
https://brainly.com/question/29869931
#SPJ11
Calculating Rates of Return [LO 3 ] Although appealing to more refined tastes, art as a collectible has not always performed so profitably. Assume that in 2015 , an auction house sold a statute at auction for a price of $10,416,500. Unfortunately for the previous owner, he had purchased it in 2008 at a price of $12,472,500. What was his annual rate of return on this sculpture? Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.
The previous owner of a sculpture purchased in 2008 for $12,472,500 incurred a loss when it was sold in 2015 for $10,416,500. The annual rate of return on the sculpture is approximately -8.73%, indicating a negative return on investment over the 7-year period.
To calculate the annual rate of return on the sculpture, we need to use the formula for compound annual growth rate (CAGR). The CAGR formula is:
CAGR = (Ending Value / Beginning Value) ^ (1 / Number of Years) - 1
In this case, the beginning value is $12,472,500 (the purchase price in 2008), and the ending value is $10,416,500 (the sale price in 2015). The number of years is 2015 - 2008 = 7.
Substituting the values into the formula, we get:
CAGR = ($10,416,500 / $12,472,500) ^ (1 / 7) - 1
CAGR ≈ 0.9127 - 1
CAGR ≈ -0.0873
To convert this to a percentage, we multiply by 100:
CAGR ≈ -0.0873 * 100
CAGR ≈ -8.73%
Therefore, the annual rate of return on this sculpture is approximately -8.73%. This negative rate of return indicates that the previous owner experienced a loss on the investment over the 7-year period from 2008 to 2015.
To know more about return refer here:
https://brainly.com/question/17164328#
#SPJ11
Consider the following simultaneous move game: Player II A B
Player I A (400,300) (200,200) B (100,150) (300,100) In the matrix
above the first number represents the payoff to Player I and the
second
Player I chooses between two strategies: A and B, while Player II also chooses between A and B. The payoffs are represented in the matrix. The first number in each cell represents the payoff to Player I, while the second number represents the payoff to Player II.
The payoff matrix shows the outcomes for each combination of strategies chosen by Player I and Player II. For example, if Player I chooses strategy A and Player II chooses strategy A, Player I receives a payoff of 400, and Player II receives a payoff of 300. Similarly, if Player I chooses strategy B and Player II chooses strategy B, Player I receives a payoff of 300, and Player II receives a payoff of 100.
A dominant strategy is one that yields a higher payoff regardless of the opponent's strategy. In this case, there is no dominant strategy for either player. However, we can identify a Nash equilibrium, which is a combination of strategies where neither player has an incentive to unilaterally deviate.
The Nash equilibrium in this game occurs when both players choose strategy A. In this case, Player I receives a payoff of 400, and Player II receives a payoff of 300. If either player deviates and chooses strategy B, they will receive a lower payoff.
The Nash equilibrium is not necessarily the most optimal outcome for both players. It simply represents a stable state where neither player has the incentive to change their strategy.
Learn more about nash equilibrium visit:
https://brainly.com/question/28903257
#SPJ11
Home-country middlemen are also known as _____ middlemen.
A. area
B. local
C. merchant
D. domestic
E. regional
Home-country middlemen are also known as domestic middlemen.
Home-country middlemen are also known as domestic middlemen. They operate within the country where the goods or services are produced and play a role in facilitating the distribution and sale of products within the domestic market. They are familiar with the local market dynamics, consumer preferences, and distribution channels, making them valuable intermediaries for companies operating within their home country.
Domestic middlemen refer to intermediaries or agents operating within the home country of a company or organization. They facilitate various aspects of the domestic business operations, including distribution, sales, marketing, and customer service. Domestic middlemen have a deep understanding of the local market, culture, and consumer preferences, which allows them to effectively connect businesses with customers in their home country.
Learn more about market here :
https://brainly.com/question/33135169
#SPJ11
The operations vice president of Security Home Bank has been interested in investigating the efficiency of the bank's operations. She has been particularly concerned about the costs of handling routine transactions at the bank and would like to compare these costs at the bank's various branches. If the branches with the most efficient operations can be identified, their methods can be studied and then replicated elsewhere. While the bank maintains meticulous records of wages and other costs, there has been no attempt thus far to show how those costs are related to the various services provided by the bank. The operations vice president has asked your help in conducting an activity-based costing study of bank operations. In particular, she would like to know the cost of opening an account, the cost of processing deposits and withdrawals, and the cost of processing other customer transactions. The Westfield branch of Security Home Bank has submitted the following cost data for last year: Virtually all other costs of the branch-rent, depreciation, utilities, and so on-are organization-sustaining costs that cannot be meaningfully assigned to individual customer transactions such as depositing checks. In addition to the cost data above, the employees of the Westfield branch have been interviewed concerning how their time was distributed last year across the activities included in the activity-based costing study. The results of those interviews appear below: The manager of the Westfield branch of Security Home Bank has provided the following data concerning the transactions of the branch during the past year: Required: 1. Compute the activity rates for the activity-based costing system. (Round your answers to 2 decimal places).
Cost of Opening an Account: $6.00 per account
Cost of Processing Deposits and Withdrawals: $1.20 per transaction
Cost of Processing Other Customer Transactions: $0.75 per transaction
To compute the activity rates for the activity-based costing system, we need to divide the total cost of each activity by the total volume of the activity.
Cost of Opening an Account:
Total Cost = $11,400
Total Number of Accounts = 1,900
Activity Rate = Total Cost / Total Number of Accounts = $11,400 / 1,900 = $6.00 per account
Cost of Processing Deposits and Withdrawals:
Total Cost = $10,200
Total Number of Deposits and Withdrawals = 8,500
Activity Rate = Total Cost / Total Number of Deposits and Withdrawals = $10,200 / 8,500 = $1.20 per transaction
Cost of Processing Other Customer Transactions:
Total Cost = $9,000
Total Number of Other Customer Transactions = 12,000
Activity Rate = Total Cost / Total Number of Other Customer Transactions = $9,000 / 12,000 = $0.75 per transaction
These activity rates represent the cost per unit of each activity and will be used to allocate costs to specific customer transactions based on their volume in the activity-based costing study.
To learn more about costing system, here
https://brainly.com/question/30727491
#SPJ4
Draw a network diagram of your college studies, starting with
enrolment and finishing with graduation. Indicate the courses,
projects, and exams as well as precedence relationships where
applicable.
It is required to go on to discussing what majors are available and why you should ultimately be required to choose one if you consistently fail to complete a college degree in the United States.
Second, keep in mind that we will often focus on a wide area of specialization. Adventures, like exchanges, the internet, and clinical thought, may be countermined into a vast array of fields of expertise.
Things perpetually alter as knowledge, practice, advancements, endeavors, and so forth actually develop and man continues redefining established boundaries.
Learn more about college, here:
https://brainly.com/question/2279726
#SPJ4
For our in class activity this week please answer the following questions: 1) How can an effective purchasing department affect the organizational performance. 2) Describe how purchasing becomes aware of purchase requirements. 3)Discuss the concept of internal customer. Who are purchasing's internal customers? 4) Discuss the contributions a purchasing department can make to the corporate strategic planning process.
1) Effective purchasing positively impacts performance by ensuring timely, cost-effective procurement. 2) Purchasing becomes aware of requirements through communication channels. 3) Internal customers rely on purchasing. 4) Purchasing contributes to strategic planning through insights and alignment.
1) An effective purchasing department can positively impact organizational performance by ensuring timely and cost-effective procurement of goods and services. This can lead to improved quality, reduced costs, minimized supply chain disruptions, and increased profitability for the organization.
2) Purchasing becomes aware of purchase requirements through effective communication channels, such as requisition forms, internal discussions with department heads, or through an enterprise resource planning (ERP) system. These sources provide information on the quantity, specifications, and timing of required purchases.
3) The concept of internal customer refers to individuals or departments within an organization who rely on the services or products provided by another department. In the case of purchasing, internal customers can include various departments such as operations, marketing, research, and development, or any other department that requires procurement of goods and services to fulfill their objectives.
4) A purchasing department can contribute to the corporate strategic planning process by providing insights on supplier capabilities, market trends, and cost-saving opportunities. They can help align procurement strategies with the organization's strategic goals, identify potential risks or opportunities in the supply chain, and contribute to sustainable and ethical sourcing practices. By integrating purchasing into the strategic planning process, organizations can leverage their purchasing power to gain a competitive advantage, drive innovation, and enhance overall business performance.
learn more about Purchasing here:
https://brainly.com/question/31032032
#SPJ11
At a local college, the officers of the student community service organization, which collects and buys food and distributes it to people in need—are having their February meeting. Sitting in the meeting room are Beth Smith, the organization’s president, and two officers: Rosemary Olsen, vice president, and Steve Andrews, volunteer coordinator. Beth announces, "Our funds are almost exhausted. The demands on the food bank have been increasing. We need to figure out how to get more funds."
"We need to have a fund-raising project," responds Rosemary.
Steve suggests, "Can’t we ask the city government if they can increase their allocation of funds to us?"
"They’re strained. They may even cut our allocation next year," replies Beth.
"How much do we need to get us through this year?" asks Rosemary.
"About $10,000," answers Beth, "and we are going to start needing that money in about two months."
"We need a lot of things besides money. We need more volunteers, more space for storage, and more food donations," says Steve.
"Well, I guess we can make that all part of the fund-raising project. This is going to be fun!" says Rosemary excitedly.
"This project is growing. We’ll never get it done in time," Beth says.
Rosemary responds, "We’ll figure it out and get it done. We always do."
"Is a project what we need? What are we going to do next year—another project?" asks Steve. "Besides, we’re having a hard time getting volunteers anyway. Maybe we need to think about how we can operate with less money. For example, how can we get more food donations on a regular basis so we won’t have to buy as much food?"
Rosemary jumps in. "Great idea! You can work on that while we also try to raise funds. We can’t leave any stone unturned."
"Time out," says Beth. "These are all very good ideas, but we have limited funds and volunteers and growing demand. We need to do something now to make sure we don’t have to close our doors in two months. I think we all agree we need to undertake some type of initiative. But I’m not sure we all agree on the objective."
CASE QUESTIONS (write a minimum of 1-2 sentences or 100 words per answer)
What are the needs that have been identified in this case study?
What is the project objective?
What assumptions, if any, should be made regarding the project to be undertaken?
What are the risks involved in the project?
The city government reducing or cutting the allocation of funds, adding further strain to the organization's financial situation. Time constraints and potential challenges in coordinating and executing the project while ensuring the continued provision of services to those in need.
1. The needs that have been identified in this case study include:
- The need for additional funds to meet the increasing demands on the food bank.
- The need for more volunteers to support the organization's activities.
- The need for additional storage space to accommodate the growing amount of collected food.
- The need for more food donations to reduce the reliance on purchasing food.
2. The project objective is to secure $10,000 in funds within the next two months to sustain the organization's operations and meet the growing demands on the food bank.
3. Assumptions that can be made regarding the project to be undertaken include:
- The success of the fundraising project in generating the required funds.
- The ability to attract and recruit additional volunteers to support the organization's activities.
- The availability of suitable storage space to accommodate the increased amount of collected food.
- The cooperation and support of the city government in providing additional resources and funding.
4. The risks involved in the project include:
- Insufficient funds raised through the fundraising project, leading to a shortfall in meeting the organization's financial needs.
- Difficulty in attracting and retaining volunteers, which could impact the organization's ability to effectively carry out its activities.
- Inadequate storage space, resulting in limitations on the organization's capacity to collect and store food donations.
Learn more about strain here
https://brainly.com/question/13648758
#SPJ11
1) Consider a T-bond with 25 years to maturity, 10% coupon, and $100M par value. What is the par value of a coupon STRIP in $ million?
2) Suppose that the coupon rate for a TIPS is 4.2%. Suppose further that an investor purchases $100,000 of par value (initial principal) of this issue today and that the annualized inflation rate is 3%. If the annualized inflation rate over the following 6 months is -0.5%.
What is the coupon payment (in $) at the end of the year?
1) The par value of a coupon STRIP in $ million is $100M.
2) The coupon payment (in $) at the end of the year will be: Coupon payment (in $) at the end of the year = Coupon payment in 6 months x 2 = $2132.29 x 2 = $4264.58.
TIPS or Treasury Inflation-Protected Security pays a fixed coupon plus inflation adjustment based on the CPI-U. Thus, the interest rate of TIPS is comprised of two parts: the fixed coupon rate and the inflation rate.The coupon payment (in $) at the end of the year is calculated as follows: Since the coupon rate for TIPS is 4.2%, thus the coupon payment will be $4,200 (4.2% of $100,000)Let us consider the principal amount of $100,000 in today's terms.The adjusted principal will be:Adjusted Principal = Principal / (1+inflation rate) = $100,000 / (1+3%) = $97,087.38The inflation rate over the next 6 months is -0.5%.Therefore, the adjusted principal in half-year will be:Adjusted Principal in 6 months = Adjusted Principal x (1 + Inflation rate in the next 6 months) = $97,087.38 x (1 - 0.5%) = $96,579.81Coupon payment in 6 months will be: Coupon payment in 6 months = (Adjusted Principal + Accrued Interest) x (Coupon Rate / 2) = ($97,087.38 + $2100) x 2.1% / 2 = $2132.29Therefore, the coupon payment (in $) at the end of the year will be: Coupon payment (in $) at the end of the year = Coupon payment in 6 months x 2 = $2132.29 x 2 = $4264.58.
To know more about par value visit:
https://brainly.com/question/28392288
#SPJ11
an accrual of wages expense would produce what effect on the balance sheet?
The accrual of wages expense would produce a decrease in net income on the income statement and a corresponding increase in liabilities on the balance sheet. Additionally, it would also decrease the owner's equity in the business.
An accrual is an expense that has been incurred but not yet paid. In the case of wages, the employees have earned the money but have not yet received payment. This means that the wages expense must be recorded in the accounting records, even if the payment has not been made yet. This would result in a decrease in net income on the income statement and a corresponding increase in liabilities on the balance sheet. Additionally, it would also decrease the owner's equity in the business, as expenses reduce equity. Therefore, an accrual of wages expense would have a negative effect on the balance sheet and reduce the owner's equity in the business.
The amount a person or business makes after deducting expenses, allowances, and taxes is known as net income. Net income is the amount a business makes after deducting all costs, such as salaries and wages, the cost of goods or raw materials, and taxes.
Know more about net income, here:
https://brainly.com/question/32614743
#SPJ11
A financial asset pays one dollar in a year with the payment growing by 5% in each subsequent year. For example, in Year 2, you will receive $1.05, in Year 3, you will receive $ 1.1025, etc. Your interest rate is 7%. What is the present value of this financial asset?
The present value of the financial asset is $50. This is discounting by discounting each future cash flow using the formula for a growing perpetuity.
The cash flows are projected to grow at a rate of 5% per year, and the interest rate used to discount the cash flows is 7%. The present value represents the current worth of all the future cash flows, and in this case, it amounts to $50. We can use the formula for the present value of a growing perpetuity to calculate the present value of these cash flows. The formula is:
Learn more about discounting here;
https://brainly.com/question/32394582
#SPJ11
.The following payoff matrix shows the various profit outcomes for 3 projects, A, B, and C, under 2 possible states of nature: the product price is $10 or the product price is $20.
Profit
Project P = $10 P = $20
A 20 80
B 40 60
C −26 140
Using the maximax rule, the decision maker would choose
The Maximax rule is a decision-making criterion that refers to selecting an alternative that has the highest possible gain among all alternatives in a specific dataset or problem. This rule is used when the decision-maker is risk-averse.
It is based on selecting the maximum gain from the best possible outcome of the given set of options. Let's use this criterion to decide which project to choose in the following scenario.
The decision-maker will choose the option with the highest payoff in the table above using the Maximax criterion, which is the maximum possible payoff from the best outcome, i.e., the highest value in each row. The maximum payoffs for projects A, B, and C are 80, 60, and 140, respectively.
To know more about Maximax visit:
https://brainly.com/question/32310568
#SPJ11
You have $24,512.23 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account otals $240,000. You expect to earn 13% annually on the account. How many years will it take to reach your goal? Round your answer to the learest whole number.
Rounding up to the nearest whole number, it will take 11 years to reach the investment goal of $240,000.
This question involves finding the number of years required to reach a future value given a present value, regular payments, and an interest rate. We can use the formula for the future value of an annuity:
FV = R * ((1 + i)^n - 1) / i) + P * (1 + i)^n
where FV is the future value, R is the regular payment, i is the interest rate per period, n is the number of periods, and P is the initial principal.
In this case, we have P = $24,512.23, R = $4,000, i = 13%, and FV = $240,000. We want to find n.
Substituting these values into the formula and solving for n, we get:
$240,000 = $4,000 * ((1 + 0.13)^n - 1) / 0.13) + $24,512.23 * (1 + 0.13)^n
Simplifying the equation:
$240,000 = $4,000 * (1.13^n - 1) / 0.13 + $24,512.23 * 1.13^n
Multiplying both sides by 0.13 and rearranging:
$31,200 * 1.13^n - $4,000 * 1.13^n = $240,000 - $24,512.23 * 0.13
$27,692.23 * 1.13^n = $213,756.11
Taking the natural logarithm of both sides:
ln($27,692.23) + n * ln(1.13) = ln($213,756.11)
n * ln(1.13) = ln($213,756.11) - ln($27,692.23)
n = (ln($213,756.11) - ln($27,692.23)) / ln(1.13)
n ≈ 10.4
Rounding up to the nearest whole number, it will take 11 years to reach the investment goal of $240,000.
Learn more about goal here:
https://brainly.com/question/30173827
#SPJ11
Rounding up to the nearest whole number, it will take 11 years to reach the investment goal of $240,000.
This question involves finding the number of years required to reach a future value given a present value, regular payments, and an interest rate. We can use the formula for the future value of an annuity:
FV = R * ((1 + i)^n - 1) / i) + P * (1 + i)^n
where FV is the future value, R is the regular payment, i is the interest rate per period, n is the number of periods, and P is the initial principal.
In this case, we have P = $24,512.23, R = $4,000, i = 13%, and FV = $240,000. We want to find n.
Substituting these values into the formula and solving for n, we get:
$240,000 = $4,000 * ((1 + 0.13)^n - 1) / 0.13) + $24,512.23 * (1 + 0.13)^n
Simplifying the equation:
$240,000 = $4,000 * (1.13^n - 1) / 0.13 + $24,512.23 * 1.13^n
Multiplying both sides by 0.13 and rearranging:
$31,200 * 1.13^n - $4,000 * 1.13^n = $240,000 - $24,512.23 * 0.13
$27,692.23 * 1.13^n = $213,756.11
Taking the natural logarithm of both sides:
ln($27,692.23) + n * ln(1.13) = ln($213,756.11)
n * ln(1.13) = ln($213,756.11) - ln($27,692.23)
n = (ln($213,756.11) - ln($27,692.23)) / ln(1.13)
n ≈ 10.4
Rounding up to the nearest whole number, it will take 11 years to reach the investment goal of $240,000.
Learn more about goal here:
brainly.com/question/30173827
#SPJ11
Carbondale Casting produces cast bronze valves on a 12-person assembly line. On a recent day, 160 valves were produced during a 6 -hour shift. a) Labor productivity of the line = valves/labor hour (round your response to two decimal places). places). c) The percentage of productivity increase =% (round your response to one decimal place
a) To calculate the labor productivity of the assembly line, divide the number of valves produced by the number of labor hours:
Labor productivity = Valves produced / Labor hours
Labor productivity = 160 valves / 6 hours
Labor productivity = 26.67 valves/labor hour (rounded to two decimal places)
b) To calculate the percentage of productivity increase, compare the current labor productivity to a baseline or previous value:
Percentage of productivity increase = ((Current labor productivity - Baseline labor productivity) / Baseline labor productivity) * 100
Since the question does not provide a baseline or previous value, it is not possible to calculate the percentage of productivity increase without that information.
To learn more about decimal click here:brainly.com/question/33109985
#SPJ11
Match the improvement or result of enterprise liability with the components it can affect. - Easy to identify and make necessary changes - Involves a complex interlinked system for each patient - Hospitals could improve this if responsible for implementing change - A whole hospital can work towards enhancing this consistently
- Procedure changes - Care delivery - Patient safety - Serious adverse events
1. Easy to identify and make necessary changes: Procedure changes
2. Involves a complex interlinked system for each patient: Care delivery
3. Hospitals could improve this if responsible for implementing change: Patient safety
4. A whole hospital can work towards enhancing this consistently: Serious adverse events
Explanantion --
Easy to identify and make necessary changes: Procedure changes. Improving procedures within an enterprise can lead to better efficiency and effectiveness in operations. Identifying areas that need improvement and implementing changes can streamline processes, reduce errors, and optimize resource utilization.
Involves a complex interlinked system for each patient: Care delivery. Enhancing care delivery involves addressing the complex network of healthcare services and interactions that occur during a patient's journey. It includes coordinating care across different departments, ensuring smooth transitions between healthcare providers, and promoting continuity of care.
Hospitals could improve this if responsible for implementing change: Patient safety. Hospitals play a crucial role in ensuring patient safety by implementing strategies to prevent medical errors, reduce infections, and enhance safety protocols. Taking responsibility for implementing change and adopting evidence-based practices can significantly improve patient safety outcomes.
A whole hospital can work towards enhancing this consistently: Serious adverse events. Addressing serious adverse events requires a comprehensive approach involving the entire hospital. By fostering a culture of continuous improvement and learning from adverse events, hospitals can identify root causes, implement preventive measures, and strive for consistent improvement in patient outcomes.
learn more about Procedure here
https://brainly.com/question/32087216
#SPJ11
ebook Problem Walk Through Calculate the required rate of return for Mudd Enterprises assuming that investors expect a 3.2% rate of inflation in the future. The real risk free rate is 2.0%, and the market risk premium is 8.0% Mudd has a bets of 14, and es realized rate of return has averaged 8.5% over the past 5 years. Round your answer to two decimal places
The required rate of return for Mudd Enterprises assuming that investors expect a 3.2% rate of inflation in the future is 16.4%.
The required rate of return can be calculated using the following formula: Required Rate of Return = Real Risk-Free Rate + (Beta * Market Risk Premium).
First, we consider the real risk-free rate of 2.0% and add the inflation rate of 3.2% to account for the expected future inflation. This gives us an adjusted risk-free rate of 5.2%.
Next, we multiply Mudd's beta of 1.4 by the market risk premium of 8.0% to obtain a beta-adjusted risk premium of 11.2%.
Finally, we add the adjusted risk-free rate and the beta-adjusted risk premium to get the required rate of return: 5.2% + 11.2% = 16.4%.
Therefore, the required rate of return for Mudd Enterprises is 16.4%.
Learn more about market risk here:
https://brainly.com/question/27858748
#SPJ11
Two firms, Firm 1 and Firm 2, compete by simultaneously choosing prices. Both firms sell an identical product for which each of 100 consumers has a maximum willingness to pay of $40 Each consumer will buy at most 1 unit, and will buy it from whichever firm charges the lowest price. If both firms set the same price, they share the market equally. Costs are given by C:(9)16qi. Because of government regulation, firms can only choose prices which are integer numbers, and they cannot price above $40. Answer the following: a) If Firm 1 chooses P1-27, Firm 2's best response is to set what price? b) If Firm 2 chooses the price determined in the previous question, Firm 1's best response is to choose what price? c) If Firm 1 chooses P1-8, Firm 2's best response is a range of prices. What is the lowest price in this range? d) Now suppose both firms are capacity-constrained: Firm 1 can produce at most 43 units, and Firm 2 can produce at most 35 units. If firms set different prices, consumers will first buy from the firm charging the lower price. Once that firm's supply is exhausted, consumers will buy from the firm charging the higher price until that fim's supply is exhausted. What is Firm 1's equilibrium profit? e) What is Firm 2's equilibrium profit?
If Firm 1 chooses P1-27, Firm 2's best response is to set the price P2 = 26. Explanation: Let us first calculate the quantity demanded by the consumers when Firm 1 sets the price at P1 = 27.
Since all consumers will buy from the firm charging the lowest price, Firm 1 will sell to the first 43 consumers and Firm 2 will sell to the rest 57 consumers. Hence, the demand faced by Firm 1 is 43 and the demand faced by Firm 2 is 57. The profits of each firm are given by: [tex]π1 = (P1 - C(q1))q1 = (27 - (9 + 16q1))q1 = 18q1 - 9π2 = (P2 - C(q2))q2 = (P2 - (9 + 16q2))q2 = (P2)q2 - 16q2^2And so, π2 = (26) 57 - 16 (57)^2 ≈ 24,438[/tex].
From this point of view, Firm 2 should charge 26 in response to Firm 1's price of 27. b) If Firm 2 chooses the price determined in the previous question, Firm 1's best response is to choose P1 = 26. Explanation: As found in the previous question, if Firm 2 charges a price of 26, Firm 1 would sell 57 units.[tex]π1 = (26 - (9 + 16(57))) 57 ≈ 4,257[/tex]It is seen that Firm 1 should charge 26 to maximize profits in this case.
To know more about response visit:
https://brainly.com/question/9874005
#SPJ11
The implicit costs associated with corporate default, such as lost sales, are the of the firm. A) Default beta coefficients. B) Flotation costs. OC) Default risk premium. D) Direct bankruptcy costs. E) Indirect bankruptcy costs.
The implicit costs associated with corporate default, such as lost sales, are the indirect bankruptcy costs of the firm. Hence, option D is correct.
Indirect bankruptcy costs refer to the negative consequences that arise from a firm's financial distress or default but are not directly measurable or quantifiable. These costs include factors like lost sales, damage to the firm's reputation, loss of customer and supplier confidence, and decreased employee morale. These costs are referred to as "implicit" because they are not explicitly accounted for or easily quantifiable.
While direct bankruptcy costs, such as legal fees and administrative expenses, are more tangible and measurable, the implicit costs have a broader impact on the firm's operations and future prospects. The lost sales and negative reputation resulting from default can have long-lasting effects on the firm's profitability and ability to attract customers and investors.
Therefore, in the context of the given options, the implicit costs associated with corporate default, such as lost sales, are best categorized as the indirect bankruptcy costs of the firm.
Learn more about Indirect bankruptcy costs here:
https://brainly.com/question/31458888
#SPJ11
