Applying the five steps of the Planning Process to Uber's development of its app-driven online cab service involved establishing objectives, such as creating a convenient ride-hailing service.
They developed premises, recognizing the potential demand and technological advancements. Uber generated alternative courses of action, exploring driver recruitment and pricing models. They evaluated alternatives, considering market size and regulatory challenges. Finally, they selected the best alternative and implemented it by launching their app-based service.
Uber's strategic plan for self-driving cars involves disruption and increased safety, but potential job losses and regulatory challenges are drawbacks. Their tactical plan includes testing, partnerships, and pilot programs, with benefits of innovation and concerns of public skepticism. The functional plan focuses on hiring skilled personnel and building infrastructure, with advantages of attracting talent and challenges of high costs.
Planning tools Uber could employ to address unexpected issues include scenario planning to anticipate disruptions, contingency planning to mitigate impacts, and risk management to identify and manage risks and uncertainties.
Using Management by Objectives, Uber can work with municipalities and provinces by setting clear objectives, establishing performance metrics, fostering communication, and adapting objectives as needed to achieve self-driving car goals. This approach facilitates collaboration and alignment with government entities.
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How many units must be in ending inventory if beginning inventory was 18,241 units, 33,596 units were started, and 34,697 units were completed and transferred out?
- ____________
Logo Gear purchased $3,156 worth of merchandise during the month, and its monthly income statement shows cost of goods sold of $2,042. What was the beginning inventory if the ending inventory was $2,677?
The number of units that must be in the ending inventory is 17,140 units if the beginning inventory was 18,241 units, 33,596 units were started, and 34,697 units were completed and transferred out.
How to find the ending inventory: The formula to find the ending inventory is: Ending inventory = Beginning inventory + Purchases − Cost of goods sold Substitute the given values in the formula. Ending inventory = 18,241 + 33,596 − 34,697= 17,140 units, Therefore, the number of units that must be in the ending inventory is 17,140 units
Now, let's solve the second problem.The formula to find the cost of goods sold (COGS) is:Cost of goods sold = Beginning inventory + Purchases - Ending inventorySubstitute the given values in the formula.$2,042 = BI + $3,156 - $2,677$2,042 + $2,677 = $3,156 + BI$4,719 = BI + $3,156BI = $1,563Therefore, the beginning inventory was $1,563 if the ending inventory was $2,677 and Logo Gear purchased $3,156 worth of merchandise during the month.
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Part A [Word limit: 400]
Consider a two-firm model with a negative production externality. Let xi denote firm i ’s output, with i = 1, 2 . Suppose that two firms operate in two different competitive markets and each firm sells its product in its respective competitive market, at the prices p1 = 100 and p2 = 150 , respectively, and that they face the same direct production cost cixi=xi22 . Let ex1,x2=x1x2 be the external cost on firm 2’s activity generated by the production of firm 1.
Part B [Word limit: 600]
Rational choice theory assumes that economic agents are rational and self-interested. Based on the evidence from behavioural laboratory experiments (e.g., dictator games), behavioural economists suggest that people are not always self-interested, rather they have intrinsic preferences for others’ well-being (e.g., altruism, inequity aversion). However, some other studies in behavioural economics investigate this further and disentangle the intrinsic preferences into several other factors. Following the discussion in the lecture, state two such studies that try to disentangle the true intrinsic preferences based on dictator games in the lab. Explain clearly and briefly the following: (i) what each study addresses; (ii) brief description of the experimental design; and (iii) intuitive explanations.
Answer of Part A:
In the two-firm model with a negative production externality, firm 1's output is denoted as x1 and firm 2's output as x2. Each firm operates in a separate competitive market, selling their products at prices p1 = 100 and p2 = 150, respectively. The direct production cost for both firms is cixi = xi^2/2. The external cost on firm 2's activity generated by the production of firm 1 is ex1,x2 = x1x2.
Answer of Part B:
Two studies that disentangle true intrinsic preferences based on dictator games in the lab are: Study 1: Altruism vs. Inequity Aversion, Study 2: Reciprocity and Social Norms
1. Study 1: Altruism vs. Inequity Aversion
- This study addresses whether individuals' behavior in dictator games is driven by altruistic motives or a concern for inequity aversion.
- Experimental Design: Participants are randomly assigned the role of dictator and given a sum of money to allocate between themselves and an anonymous recipient. The recipient's payoff is predetermined and fixed. The dictator can choose to distribute the money equally (altruistic behavior) or unequally (inequity aversion behavior).
- Intuitive Explanation: By comparing the frequency of equal and unequal allocations, the study aims to understand whether individuals are motivated by a desire for fairness and equity or a genuine concern for the well-being of others.
2. Study 2: Reciprocity and Social Norms
- This study investigates the role of reciprocity and social norms in dictator games to uncover whether individuals' behavior is influenced by the expectation of reciprocal actions or adherence to social norms.
- Experimental Design: Dictators are given the option to allocate money to themselves and an anonymous recipient. Before making their allocation decision, dictators are informed that the recipient can choose to reciprocate by sharing their own monetary gains or that there is a social norm of equal sharing. The dictator's decision is then observed.
- Intuitive Explanation: The study aims to differentiate between individuals who act altruistically due to a genuine concern for others and those who behave altruistically because they anticipate reciprocal actions or adhere to social norms. By manipulating the information provided to the dictators, the researchers can disentangle the underlying motivations.
These studies provide insights into the complexity of individuals' preferences and shed light on the factors that drive behavior in economic decision-making.
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Perform instant experiments on the efficient frontier and portfolio weights. The portfolio weights of the optimal (tangent) portfolio are a trade-off between putting more in assets with higher expected returns vs. spreading investment out evenly to lower portfolio risk by diversification. You can see how this trade-off works by doing some of the experiments listed below:
(A) What happens to the optimal portfolio weight of an individual asset that is underpriced (e.g. the expected return is raised)?
(B) What happens to the optimal portfolio weight of an individual asset that is overpriced (e.g. the expected return is lowered)?
(C) What happens to the optimal portfolio weight of an individual asset that is mispriced due to the standard deviation of the asset being raised?
(D) What happens to the optimal portfolio weight of an individual asset that is mispriced due to the standard deviation of the asset being lowered?
(E) What happens to the optimal portfolio weights of two risky assets when the correlation between them is raised?
(F) What happens to the optimal portfolio weights of two risky assets when the correlation between them is lowered?
(G) What happens to the efficient trade-off (tangent) line when the risk-free rate is raised?
(H) What happens to the efficient trade-off (tangent) line when the risk-free rate is lowered?
Efficient Frontier and Portfolio WeightsIn finance, the efficient frontier is a theoretical concept that refers to a collection of optimal portfolios that offer the highest level of expected return for a given level of risk or the lowest risk for a given level of expected return.
The efficient frontier describes the optimal portfolio diversification that would enable an investor to maximize returns while minimizing risks. Portfolio weights refer to the allocation of assets in a portfolio, and they are determined based on an investor's risk tolerance, investment goals, and expected returns. The optimal portfolio weights are a trade-off between putting more in assets with higher expected returns vs. spreading investment out evenly to lower portfolio risk by diversification.The experiments that can be performed to examine the efficient frontier and portfolio weights include:(A) What happens to the optimal portfolio weight of an individual asset that is underpriced (e.g. the expected return is raised)?If the expected return of an individual asset is raised, the optimal portfolio weight of the asset increases.(B) What happens to the optimal portfolio weight of an individual asset that is overpriced (e.g. the expected return is lowered)?If the expected return of an individual asset is lowered, the optimal portfolio weight of the asset decreases.(C) What happens to the optimal portfolio weight of an individual asset that is mispriced due to the standard deviation of the asset being raised.If the standard deviation of an individual asset is raised, the optimal portfolio weight of the asset decreases.(D) What happens to the optimal portfolio weight of an individual asset that is mispriced due to the standard deviation of the asset being lowered.If the standard deviation of an individual asset is lowered, the optimal portfolio weight of the asset increases.(E) What happens to the optimal portfolio weights of two risky assets when the correlation between them is raised.If the correlation between two risky assets is raised, the optimal portfolio weights of the assets decrease.(F) What happens to the optimal portfolio weights of two risky assets when the correlation between them is lowered.If the correlation between two risky assets is lowered, the optimal portfolio weights of the assets increase.(G) What happens to the efficient trade-off (tangent) line when the risk-free rate is raised. If the risk-free rate is raised, the efficient trade-off (tangent) line shifts upward, which results in a decrease in the expected return of a portfolio for a given level of risk.(H) What happens to the efficient trade-off (tangent) line when therisk-free rate is lowered If the risk-free rate is lowered, the efficient trade-off (tangent) line shifts downward, which results in an increase in the expected return of a portfolio for a given level of risk.
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Efficient Frontier refers to a collection of investment portfolios that are optimal. They offer the highest possible expected return at a certain level of risk. The portfolio weights of the optimal portfolio represent a trade-off between investing more in assets that have higher expected returns and spreading investment evenly to decrease portfolio risk through diversification.
The following are some of the experiments that can be conducted:
(A). Optimal Portfolio Weight of an Underpriced Asset: The optimal portfolio weight of an underpriced asset increases as its expected return rises. Investors purchase the stock, raising its price. As a result, the investor's position becomes more expensive and their share of the portfolio shrinks.
(B). Optimal Portfolio Weight of an Overpriced Asset: The optimal portfolio weight of an overpriced asset reduces as its expected return decreases. Investors sell the stock, lowering its price. As a result, the investor's position becomes cheaper and their share of the portfolio grows.
(C). Optimal Portfolio Weight of a Mispriced Asset: When an asset is mispriced due to the standard deviation of the asset being raised, the optimal portfolio weight of an individual asset falls. A drop in standard deviation implies a rise in stability, and investors are more interested in the asset. As a result, the stock price rises, causing the investor's share of the portfolio to decrease.
(D). Optimal Portfolio Weight of a Mispriced Asset: When an asset is mispriced due to the standard deviation of the asset being lowered, the optimal portfolio weight of an individual asset increases. An increase in standard deviation implies a decrease in stability, and investors are less interested in the asset. As a result, the stock price falls, causing the investor's share of the portfolio to increase.
(E). Optimal Portfolio Weights of Two Risky Assets: When the correlation between two risky assets increases, the optimal portfolio weights of both stocks decrease.
(F). This decrease in portfolio weights is caused by an increase in volatility, which raises risk.
(G). Efficient Trade-Off (Tangent) Line: When the risk-free rate is lowered, the efficient trade-off (tangent) line shifts up and to the right.
(H). The efficient frontier will rise as a result of this shift.
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An economist han estimated the demand expation of a certain product as Q-000-SP where is the price unit and Qs the quantity demanded (info) per your 1.Calculate the own price elasticity of demand of the product when its price goes from $30 to $33 per unit 2. Give an interpectation of the value of the own price elasticity calculated question 1. 3. Using the demand equation Q-200-SP, calculate the own price elasticity when price is P-$10 Is demand elastic, unit elastic o incat a price P-5107 Will you tame increase revenue? price m 4. Using the demand equation Q-200-SP, determine the commernplas (CS) when price is P-$10 What's the total expenditure (TE) when price is P-$107 Deseme de tal com salue (TCV) when price is P-$10.
In the given scenario, an economist has estimated the demand function for a product as Q = 1,000 - SP, where P represents the price and Q represents the quantity demanded. Using this demand function, we can calculate the own price elasticity of demand, interpret its value, determine the elasticity at a specific price, and analyze the consumer surplus, total expenditure, and total consumer value at a given price.
1. To calculate the own price elasticity of demand when the price changes from $30 to $33 per unit, we use the formula:
Elasticity = (% Change in Quantity Demanded) / (% Change in Price)
The initial quantity demanded can be calculated by substituting the initial price ($30) into the demand function: Q = 1,000 - (30 * P). Similarly, the quantity demanded after the price change ($33) can be calculated by substituting the new price into the demand function.
2. The value of the own price elasticity of demand will indicate the responsiveness of quantity demanded to a change in price. If the elasticity is greater than 1, demand is considered elastic, meaning that a small change in price leads to a relatively larger change in quantity demanded. If the elasticity is less than 1, demand is inelastic, indicating that a change in price has a relatively smaller effect on quantity demanded. If the elasticity is equal to 1, demand is unit elastic.
3. Using the demand equation Q = 200 - SP and the given price of $10, we can calculate the own price elasticity of demand. Substituting the price into the demand function will give us the quantity demanded. Based on the calculated elasticity, we can determine whether the demand is elastic, inelastic, or unit elastic. This information will help determine if increasing the price from $10 to $107 would result in increased revenue.
4. To determine the consumer surplus (CS) at a price of $10, we need to calculate the area between the demand curve and the price line. Consumer surplus represents the difference between what consumers are willing to pay and what they actually pay. Total expenditure (TE) is the product of the price and quantity demanded. To calculate the total consumer value (TCV), we multiply the quantity demanded by the maximum price consumers are willing to pay.
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An ordinary share has just paid a dividend of N$ 4 and it has a required return of 11%. Dividends are expected to grow at 6% per annum. What price would you be willing to pay for this share?
You would be willing to pay N$ 80 for this share based on the given information and the dividend discount model.
To determine the price you would be willing to pay for the share, we can use the dividend discount model (DDM). The DDM calculates the present value of future dividends to determine the intrinsic value of a share.
The formula for the DDM is:
P = D / (r - g),
where:
P = Price of the share,
D = Dividend just paid,
r = Required return, and
g = Dividend growth rate.
In this case, the dividend just paid is N$ 4, the required return is 11%, and the dividend growth rate is 6%.
Plugging in the values into the formula:
P = 4 / (0.11 - 0.06) = 4 / 0.05 = N$ 80.
Therefore, you would be willing to pay N$ 80 for this share based on the given information and the dividend discount model.
It's important to note that the calculated price represents the intrinsic value of the share based on the assumptions made. Market prices may deviate from the intrinsic value due to various factors such as market sentiment and other market participants' expectations.
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The following transactions occurred during May for SUPflow, Inc., a floating yoga studio located in Morro Bay, California: • Collected money from memberships sold to customers on account. • Purchased studio supplies on account. • Paid cash dividends to the owner. • Accrued operating expenses incurred during May that will be paid in June. • Recognized supplies used during May. • Recorded depreciation on fixed assets. Recognized monthly revenue earned for annual memberships purchased by customers in January. Assuming the company uses the accrual basis of accounting, how many of the above transactions are considered adjustments? three two seven four one
The Adjustments transactions out of operating activities the company uses the accrual basis of accounting, how many of the above transactions are considered adjustments transactions occurred during May for supflow, Inc. are two.
According to accrual basis of accounting, adjustments are necessary to ensure that the income statement and the balance sheet reflect the revenues and expenses earned and incurred during the period. Therefore, out of the transactions listed above the following two transactions will be considered as adjustments: Accrued operating expenses incurred during May that will be paid in June.Recognized supplies used during May.
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King Company
Balance Sheet
Cash $20,000
Receivables 20,000
Inventories 60,000
Total Current Assets 100,000
Plant Assets (net) 200,000
$300,000
Accounts Payable $ 50,000
Long Term debt 100,000
Stock holders' equity 150,000
$300,000
The current ratio of King Company is:
Group of answer choices
2:1
3:1
2:3
1:2
The current ratio of King Company can be calculated by dividing the total current assets ($100,000) by the total current liabilities ($50,000). The current ratio is 2:1.
Liabilities refer to the obligations or debts that a company owes to external parties. They represent the financial claims on the company's assets and can include both short-term and long-term obligations. Some common types of liabilities include accounts payable, accrued expenses, loans, bonds, and other forms of debt.
Liabilities are classified on a company's balance sheet as either current liabilities or long-term liabilities. Current liabilities are those that are expected to be settled within one year or the operating cycle of the company, whichever is longer. Long-term liabilities, on the other hand, are obligations that extend beyond one year.
Managing liabilities is important for a company's financial health and stability. Companies need to ensure they have sufficient cash flow and resources to meet their obligations and avoid defaulting on their debts. Additionally, creditors and investors often analyze a company's liability position to assess its risk profile and financial viability.
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Lulu and City Center both own an identical storage building in Sitra valued at BD 10,000. It was estimated that there is an 8 percent chance in any year each storage will be destroyed (loss to either of the building are independent). Both Lulu and City Center agreed to share the risk and agrees to pay equal amount of share in case of a loss
a. Calculate the expected loss for each of the parties involved.
b. Estimate the objective risk before pooling.
c. Estimate the objective risk as a result of the pooling
a. The expected loss for each party involved is BD 400.
To calculate the expected loss, we multiply the value of the storage building (BD 10,000) by the probability of loss (8% or 0.08). Since the loss is shared equally between Lulu and City Center, each party would be responsible for BD 5,000 in case of a loss. Therefore, the expected loss for each party is BD 10,000 * 0.08 = BD 800. Since the loss is shared equally, each party's expected loss would be BD 800 / 2 = BD 400.
b. The objective risk before pooling is BD 800.
The objective risk before pooling refers to the expected loss for each party without considering the risk-sharing arrangement. In this case, since the probability of loss is 8% and the value of the storage building is BD 10,000, the expected loss for each party would be BD 10,000 * 0.08 = BD 800.
c. The objective risk as a result of pooling is BD 400.
Pooling the risk means that both Lulu and City Center share the risk equally and agree to pay an equal share in case of a loss. As a result, the expected loss for each party is reduced to BD 400. By sharing the risk, the objective risk is reduced by half compared to the situation before pooling.
Keywords: Lulu, City Center, storage building, risk sharing, expected loss, objective risk, pooling.
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According to FASB Statement No. 34, interest must be capitalized for
a. assets that are ready for use
b. assets constructed for a firm's own use
c. assets that are not being used in the earning activities of the company
d. inventories that are produced in large quantities on a repetitive basis
According to FASB Statement No. 34, interest must be capitalized for assets that are being constructed for a firm's own use.
Capitalization refers to the amount of expenses that are not yet recognized as a cost of doing business. Instead, these expenses are treated as an investment in the company's future and are recorded as an asset. Capitalization is frequently used in accounting when a firm invests money in building new assets or improving existing ones.
According to FASB Statement No. 34, interest must be capitalized for assets that are being constructed for a firm's own use. Capitalizing interest is a means of accounting for the cost of borrowing. Instead of recognizing interest expenses as they are paid, the interest is added to the cost of the asset being constructed, raising the total cost of the asset.
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A.fill out chart and calculate MAD values and decide best forecasting method.
B.calculate exponential smoothing for May and June all the April forecast is 29 and the Alpha value is .1
C.conduct a seasonality analysis calculate seasonal index and identify the seasons you observe seasonality
D. if you expect that the average sales for 2023 will be 35 then calculate the forecast for the summer of 2023.
Given a set of instructions, one can determine the best forecasting method by filling out a chart and calculating the MAD values.
This question requires one to carry out a set of actions in the form of a series of questions. Here is the response to each of the question;
A. Fill out chart and calculate MAD values and decide best forecasting method Chart for the sales data Month Sales Forecast Error| Error|April|29|27.8|-1.2|May|36|28.8|-7.2|June|47|35.12|-11.88|
MAD = ((1.2) + (7.2) + (11.88)) / 3MAD = 6.427
Forecasting method: The forecasting method that yields the least MAD is the one that will be employed.
B. Calculate exponential smoothing for May and June all the April forecast is 29 and the Alpha value is .1
Exponential smoothing for May = (0.1) x (36 - 29) + (0.9) x 29 = 29.7
Exponential smoothing for June = (0.1) x (47 - 36) + (0.9) x 29.7 = 34.53
C. Conduct a seasonality analysis calculate seasonal index and identify the seasons you observe seasonality
The average sales in summer are 44.66 [(60 + 75 + 63) / 3].
Summer's seasonal index = 44.66 / 39.5 = 1.13
The average fall sales are 52 [(85 + 58 + 62) / 3].The fall seasonal index is 1.31 (52 / 39.5).Winter's seasonal index is 0.95 (37.5 / 39.5).
D. If you expect that the average sales for 2023 will be 35, then calculate the forecast for the summer of 2023.
Summer seasonal index = (60 + 75 + 63) / 3 / (44.66 / 39.5) = 1.13Therefore, forecasted sales in the summer of 2023 = 35 x 1.13 = 39.55
Approximately 40 (rounded to the nearest whole number).
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Terrier Pretzels (TPZ) is expected to pay a dividend of $1.25 in one year and a dividend of $2.00 in two years. In two years, the stock is expected to sell for $80 right after it pays the $2.00 dividend. If TPzS's equity cost of capital is 15%, what price would you expect to pay for a share of GMTS's stock today?
Answer: the price that one would expect to pay for a share of TPZ's stock today is $54.664 per share.
Let us first understand what a dividend is. A dividend is a distribution of profits by a corporation to its shareholders. Dividends may be paid out as cash or in the form of additional shares of stock. The dividend can be calculated by finding the present value of future expected dividends. Now let's solve the question. The dividend per share in one year = $1.25 and in two years = $2.00.
So, the present value of the dividend after one year will be:
PV1 = 1.25/(1 + 0.15) = 1.087PV2 = 2.00/(1 + 0.15)² = 1.346
The present value of the stock price in two years will be:
PV3 = (80)/(1 + 0.15)² = 52.231
So the price of the stock can be calculated as:
Price of the stock = PV1 + PV2 + PV3= 1.087 + 1.346 + 52.231= $54.664
per shareSo, we would expect to pay $54.664 per share of TPZ's stock today.
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Household income for purpose of the premium tax credit includes all of the following except: a. Any tax-exempt income b. AGI of the taxpayer's dependents if required to file a return c. Nontaxable Social Security benefits d. AGI of the taxpayer e. All of these
Household income for purpose of the premium tax credit includes all of the following except: All of these
What are Household incomeHousehold income for the purpose of the premium tax credit includes all of the following: any tax-exempt income, the AGI of the taxpayer's dependents if required to file a return, nontaxable Social Security benefits, and the AGI of the taxpayer. Therefore, the correct answer is "e. All of these."
Therefore, all of the options listed are included in the calculation of household income for the purpose of the premium tax credit.
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exercise 14-12 (static) uncertain cash flows [lo14-4] the cambro foundation, a nonprofit organization, is planning to invest $104,950 in a project that will last for three years. the project will produce net cash inflows as follows: year 1 $ 30,000 year 2 $ 40,000 year 3 ? click here to view exhibit 14b-1 and exhibit 14b-2, to determine the appropriate discount factor(s) using table. required: assuming that the project will yield exactly a 12% rate of return, what is the expected net cash inflow for year 3?
ANSWER: The expected net cash inflow for Year 3 is $46,280.
As given in the problem that the Cambro foundation, a nonprofit organization, is planning to invest $104,950 in a project that will last for three years. The project will produce net cash inflows as follows: Year 1: $30,000 Year 2: $40,000 Year 3: ? Given rate of return = 12%. To determine the appropriate discount factor(s) using Exhibit 14B-1 and Exhibit 14B-2, we need to find the present value of the cash inflows in Year 1 and Year 2.Exhibit 14B-1 - Present Value of $1 for 1 Year at Different Interest Rates: 12%Interest rate = 12% Present value of $1 for 1 year = 0.893 Present value of $1 for 2 years = 0.797 Exhibit 14B-2 - Present Value of an Annuity of $1 per Year for 1 Year at Different Interest Rates: 12% Interest rate = 12% Present value of an annuity of $1 for 1 year = 0.89 3Present value of an annuity of $1 for 2 years = 1.783
(a) Calculation of Present Value of the Net Cash Inflows in Year 1: Present value of cash inflow in year 1 = Cash inflow in year 1 × Present value of $1 for 1 year at 12%Present value of cash inflow in year 1 = $30,000 × 0.893Present value of cash inflow in year 1 = $26,790
(b) Calculation of Present Value of the Net Cash Inflows in Year 2: Present value of cash inflow in year 2 = Cash inflow in year 2 × Present value of $1 for 2 years at 12%Present value of cash inflow in year 2 = $40,000 × 0.797Present value of cash inflow in year 2 = $31,880
(c) Calculation of Present Value of the Net Cash Inflows in Year 3: Present value of cash inflow in year 3 = Cash inflow in year 3 × Present value of $1 for 1 year at 12%Present value of cash inflow in year 3 = X × 0.893Where X is the expected net cash inflow for Year 3.Present value of cash inflows in all the years = $26,790 + $31,880 + $X= $58,670 + $XWe know that the present value of cash inflows in all the years should be equal to the investment made, i.e., $104,950.∴ $58,670 + $X = $104,950. Solving for X, we get:X = $104,950 - $58,670X = $46,280. Therefore, the expected net cash inflow for Year 3 is $46,280.
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when researchers say that masculinity is socially constructed, they mean that
When researchers say that masculinity is socially constructed, they mean that the specific cultural norms, values, beliefs, and expectations about what it means to be a man or masculine are created and perpetuated by society through socialization processes.
What is social construction?Social construction is a theoretical perspective that emphasizes the role of language, culture, and social interaction in shaping our perceptions of reality. According to this perspective, social reality is not fixed or objective but is instead created and negotiated through the ongoing interactions between individuals and their environment.
Masculinity refers to the collection of traits, attitudes, and behaviors that are culturally associated with men and maleness. It is a socially constructed concept that varies across different times, places, and cultures.
Some of the components of masculinity include physical strength, emotional resilience, toughness, aggressiveness, independence, leadership, competitiveness, stoicism, and dominance.
Socialization is the process through which individuals learn the norms, values, beliefs, and expectations of their society or culture. It begins in childhood and continues throughout the lifespan through various agents of socialization such as family, schools, peer groups, media, and religion.
Gender roles refer to the socially prescribed behaviors, attitudes, and responsibilities that are associated with being male or female. They are learned through socialization and vary across different societies and cultures.
Gender identity is the individual's subjective sense of themselves as male, female, or another gender. It is a personal and often deeply held aspect of one's identity that may or may not align with the sex they were assigned at birth.
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Ahmed contributed cash of $20,000 into the partnership. The journal entry to record the sadne O True O False Moving to another question will save this response O
The correct journal entry to record Ahmed's contribution of cash into the partnership would be:
Debit: Cash $20,000
Credit: Ahmed, Capital $20,000
This entry reflects the increase in the partnership's cash assets and Ahmed's capital account. So, the statement is true. By making this contribution, Ahmed is increasing his investment in the partnership, which will be reflected in his capital account. This entry ensures that the partnership's financial records accurately reflect the new capital contributed by Ahmed.
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Bonus question: If a firm is a monopsonist for a given input and that supply of that input is completely inelastic, what price does the firm change for the input?.
If a firm is a monopsonist for a given input and the supply of that input is completely inelastic,
The firm has the power to dictate the price it pays for the input. In this case, the firm would set the price for the input at the minimum level necessary to secure the required quantity of the input. The firm can take advantage of its monopsonistic position and pay a lower price due to the lack of alternative options for suppliers. With a completely inelastic supply, the quantity supplied remains constant regardless of the price. This gives the firm leverage to set a lower price for the input, maximizing its own benefits and potentially reducing costs. However, it is important to note that this pricing strategy can lead to negative consequences for the input suppliers, as they have limited bargaining power and may experience reduced income or profitability.
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The front schedule logic causes all the work to be done ahead of schedule which: I. creates additional inventory II. saves expense III. intended to allow workers to go home earlier IV. occupies resources that could be used on other orders IV and Il only II and Ill only I and II only I and IV only III and IV only
The front schedule logic causes all the work to be done ahead of schedule, which results in creating additional inventory and saving expenses.By completing work ahead of schedule, there is a potential for accumulating additional inventory.
This occurs because the work is finished earlier than originally planned, leading to finished goods or products being stocked until they are needed or shipped to customers. While having extra inventory can provide a buffer for unexpected demands or supply disruptions, it also ties up resources and incurs storage costs.
Additionally, the front schedule logic can save expenses. By completing work earlier, there may be opportunities to optimize production processes, reduce overtime or rush charges, negotiate better supplier terms, or take advantage of early payment discounts. These cost-saving measures can positively impact the organization's financial performance.
The other options mentioned in the answer choices do not align with the outcomes of front schedule logic. It is not intended to allow workers to go home earlier (option III), as it focuses on completing work ahead of schedule rather than shortening work hours.
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Acoma, Inc., has determined a standard direct materials cost per unit of $7.00 (2 feet x $3.50 per foot). Last month, Acoma purchased and used 4,550 feet of direct materials for which it paid $15,470. The company produced and sold 2,170 units during the month. Calculate the direct materials price, quantity, and spending variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your intermediate calculations to 2 decimal places.) Direct Materials Price Variance Direct Materials Quantity Variance Direct Materials Spending Variance
Answer:The direct materials price variance is $912 U (unfavorable). The direct materials quantity variance is $395 F (favorable).
The direct materials spending variance is $517 U (unfavorable).Explanation:Calculation of Direct Materials VariancesThe direct materials price variance is the difference between the actual price paid for materials and the standard price allowed times the quantity of materials purchased.APV = (Actual price - Standard price) × Actual quantity purchasedAPV = ($15,470/4,550 ft - $3.50/ft) × 4,550 ft = $912 UThe direct materials quantity variance is the difference between the actual quantity used and the standard quantity allowed times the standard price per unit.SQV = (Actual quantity - Standard quantity) × Standard price per unitSQV = (4,550 ft - 2,170 units × 2 ft/unit) × $3.50/ft = $395 FThe direct materials spending variance is the difference between the actual cost incurred and the actual quantity used times the standard price per unit.SPV = Actual cost - (Actual quantity × Standard price per unit)SPV = $15,470 - (2,170 units × 2 ft/unit × $3.50/ft) = $517 UTherefore, the direct materials price variance is $912 U (unfavorable). The direct materials quantity variance is $395 F (favorable). The direct materials spending variance is $517 U (unfavorable).
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In the manufacturing of computer memory chips, company A produces one defective chip for every nine good chips. Let X be time to failure (in months) of chips. It is known that X is an exponential rand
0.4687 is the probability that a randomly chosen chip will fail within the first month.
In the manufacturing of computer memory chips, company A produces one defective chip for every nine good chips. Let X be the time to failure (in months) of chips. It is known that X is an exponential random variable with a failure rate of 4/3 failures per year (i.e., λ = 4/3).
Since X is an exponential random variable with a failure rate of 4/3 failures per year (i.e., λ = 4/3), the probability density function of X is given by:
f(x) = λe^(-λx), x ≥ 0, λ > 0
The cumulative distribution function (CDF) of X is given by:
F(x) = P(X ≤ x) = ∫₀ˣ λe^(-λt) dt = 1 - e^(-λx), x ≥ 0, λ > 0
The probability that a randomly chosen chip will fail within the first month is P(X ≤ 1), which is given by:
F(1) = 1 - e^(-λ) = 1 - e^(-4/3) ≈ 0.4687
Therefore, the probability that a randomly chosen chip will fail within the first month is approximately 0.4687.
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In the manufacturing of computer memory chips, company A produces one defective chip for every nine good chips. Let X be time to failure (in months) of chips. It is known that X is an exponential random variable with a failure rate (λ) of 0.05.
(a) Find the probability that a randomly chosen chip fails within the first 6 months.
(b) Find the expected time to failure for a randomly chosen chip.
(c) Find the variance of the time to failure for a randomly chosen chip.
(a) To find the probability that a randomly chosen chip fails within the first 6 months, we need to calculate the cumulative distribution function (CDF) of the exponential distribution. The CDF of an exponential distribution is given by:
CDF(x) = 1 - e^(-λx)
where λ is the failure rate and x is the time to failure.
In this case, λ = 0.05 and we want to find the probability for x ≤ 6 months. Substituting the values into the CDF formula:
CDF(6) = 1 - e^(-0.05 * 6)
(b) The expected time to failure (mean) of a randomly chosen chip can be calculated using the formula:
Expected time to failure = 1 / λ
In this case, λ = 0.05. Substituting the value into the formula:
Expected time to failure = 1 / 0.05
(c) The variance of the time to failure for a randomly chosen chip in an exponential distribution is given by:
Variance = (1 / λ^2)
In this case, λ = 0.05. Substituting the value into the formula:
Variance = (1 / 0.05^2)
Perform the necessary calculations using the provided formulas to find the probability of failure within the first 6 months, the expected time to failure, and the variance of the time to failure for a randomly chosen chip.
Review the different controls and accounting operations of a previous employer. Identify some risk areas where either material mistakes or fraud could happen. Then discuss how internal controls can be improved to reduce these risks.
My previous job was Wendy's Restaurant
Wendy’s restaurant is a fast-food chain that was founded in Ohio in 1969. The company grew rapidly and has now over 6,500 locations worldwide.
The chain is popular for its hamburgers, chicken sandwiches, and French fries. The following are the different controls and accounting operations of the restaurant that could pose a risk if not appropriately managed. Controls and accounting operations of Wendy’s Restaurant1.
Cash Handling Procedures: At Wendy’s, cash handling procedures were in place to ensure that cash received from customers was accurately recorded and deposited.
The cash register was used to record all sales made, and the cash was counted at the end of each shift. However, mistakes could occur if the cash was not counted correctly, or if an employee was not honest.
Inventory Management: Wendy’s used inventory management to ensure that it had sufficient food and supplies for its customers.
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Consider the following information when answering the question below.
Fixed expenses
$40,000
Variable cost per unit
$12
Selling price per unit
$20
The break even point in units is:
Select one:
a.
2,000 units
b.
20,000 units
c.
40,000 units
d.
5,000 units
e.
3,333 units
The break-even point in units is 5,000 units.
A break-even point is when a company's sales can cover all of its fixed and variable expenses. It refers to the level of output at which total costs equal total revenue or the revenue required to cover total costs, which has no profit or loss.
What is the break-even point in units? Formula for Break-even point is; Break-even point in units = Fixed Costs / (Selling Price per unit – Variable Cost per unit)Fixed costs = $40,000Variable Cost per unit = $12Selling price per unit = $20The formula for the break-even point in units is: Break-even point in units = 40,000 ÷ (20 - 12) = 5,000 units Therefore, the correct option is d. 5,000 units.
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Exercise 2-3 (Algo) Computing Total Job Costs and Unit Product Costs Using a Plantwide Predetermined Overhead Rate [LO2-3] Mickley Company's plantwide predetermined overhead rate is $20.00 per direct labor-hour and its direct labor wage rate is $12.00 per hour. The following information pertains to Job A-500: Direct materials Direct labor S 230 $ 240 Required: 1. What is the total manufacturing cost assigned to Job A-500? 2. If Job A-500 consists of 50 units, what is the unit product cost for this job? (Round your answer to 2 decimal places.)
To calculate the total manufacturing cost assigned to Job A-500, we need to consider both direct materials and direct labor costs.
Direct materials cost for Job A-500: $230
Direct labor cost for Job A-500: $240
To calculate the total manufacturing cost, we need to add the direct materials cost and the direct labor cost:
Total manufacturing cost = Direct materials cost + Direct labor cost
Total manufacturing cost = $230 + $240 = $470
Therefore, the total manufacturing cost assigned to Job A-500 is $470.
To calculate the unit product cost for Job A-500, we divide the total manufacturing cost by the number of units:
Unit product cost = Total manufacturing cost / Number of units
Unit product cost = $470 / 50 = $9.40
Therefore, the unit product cost for Job A-500 is $9.40.
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The figure below shows the intergenerational inequality in earnings in the US and Denmark. US DENMARK 0.400 Child in poorest 20% Child in richest 20% 0.4 0.4 0.360 0.337 0.3 0.3 0.253 0.2 0.2 0.161 0.098 0.1 0.1 0.074 0 0 Poorest 20% Richest 20% Richest 20% Father's earnings quintile Which of the following appropriately interprets the figure above? O a. In the US, 40% of the children had fathers who were in the poorest earnings quintile. O b. The intergenerational mobility is lower in Demark than in the US. O c. The figure implies that children from high-income households tend to become high-income earners. O d. The figure shows the between-country inequality. O e. The figure shows the categorical inequality. 0.167 Poorest 20%
The appropriate interpretation of the figure above is c. The figure implies that children from high-income households tend to become high-income earners.
The figure shows the intergenerational inequality in earnings between different income quintiles (poorest 20% and richest 20%) in the US and Denmark. It demonstrates that in both countries, children from high-income households (richest 20%) have a higher likelihood of becoming high-income earners themselves compared to children from low-income households (poorest 20%). This indicates a correlation between the income of parents and their children's income in both countries.
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create a Operations/Supply Chain Management Plan for samsung
The operations and supply chain management plan is a tool for improving Samsung's supply chain's efficiency and profitability. It will include forecasting, inventory management, production scheduling, quality assurance, and logistics.
The main goal of the plan is to ensure the timely delivery of quality products to customers at a low cost. An operations and supply chain management plan for Samsung should include the following:
1. Forecasting:Samsung will need to establish a forecast for customer demand and production requirements. It should be done by studying market trends and analyzing historical sales data to predict future sales trends.
2. Inventory Management:Samsung should ensure it has an adequate inventory level to meet customer demands without overstocking. It should establish a just-in-time inventory system that keeps inventory levels to a minimum while still ensuring that all orders are fulfilled.
3. Production Scheduling:Samsung should ensure that production schedules are coordinated with customer demands. It should implement a production plan that is flexible enough to adapt to changing customer requirements.
4. Quality Assurance:Samsung should implement a rigorous quality assurance program to ensure that products meet customer expectations. This should include supplier quality control, production quality control, and final product testing.
5. Logistics:Samsung should ensure that the distribution network is optimized to minimize shipping costs while still ensuring that products are delivered on time to customers. This should include selecting the most cost-effective transportation mode, developing efficient routes, and using advanced logistics software.
In conclusion, Samsung's operations and supply chain management plan should be aimed at reducing production costs and increasing efficiency while ensuring that customer demands are met. This should be done by implementing a forecasting system, just-in-time inventory, flexible production schedules, rigorous quality assurance programs, and an optimized logistics system. The plan should be reviewed regularly to ensure that it remains up-to-date with the latest technology and processes to ensure that Samsung's supply chain remains efficient and profitable.
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The 2021 Fortune Global 500 put Walmart in first rank in the world with revenues of USD 559.2 billions. This multinational retail corporation has persistently remained the largest in recent years by leaving other big names, such as Amazon, Apple, and Toyota Motor. Walmart's achievements were obtained from 10,585 total retail units, including 5,250 international units (June 2022). Apart from Walmart, there are hundreds of corporations from various countries, including Indonesia, entering global market to reach bigger market.
Regarding the phenomenon of corporations penetrating global market, please provide your arguments for the following:
Constraints that a corporation may face
Examples of different strategies for different markets
When penetrating the global market, corporations may face constraints such as cultural and language barriers, legal and regulatory complexities, economic and market conditions, political risks, and supply chain challenges. Constraints that a corporation may face when penetrating the global market:
Cultural and language barriers: When entering new markets, corporations may encounter cultural differences and language barriers that can hinder effective communication and understanding with local customers, suppliers, and employees.
Legal and regulatory barriers: Different countries have their own legal and regulatory frameworks, which may pose challenges for corporations in terms of compliance, intellectual property protection, licensing, and market access.
Economic and market conditions: Economic factors such as exchange rates, inflation rates, and market volatility can impact a corporation's operations and profitability in foreign markets. Market conditions, including competition and consumer preferences, may also vary, requiring companies to adapt their strategies accordingly.
Political and geopolitical risks: Political instability, government policies, trade barriers, and geopolitical tensions can create uncertainties and risks for corporations operating in global markets. Changes in political leadership or international relations can affect business operations and market dynamics.
Supply chain complexities: Expanding into global markets often involves managing complex supply chains, including sourcing materials, logistics, and distribution networks. Companies need to navigate potential challenges related to transportation, customs, tariffs, and coordinating multiple stakeholders across different regions.
Examples of different strategies for different markets:
Market customization: Corporations may tailor their products, marketing strategies, and pricing to suit the specific needs and preferences of different markets. This approach requires conducting market research and adapting offerings to local tastes, cultural norms, and purchasing power.
Strategic partnerships: Collaborating with local partners, such as distributors, suppliers, or joint venture partners, can provide corporations with access to local knowledge, networks, and resources. Partnerships can help navigate regulatory complexities, enhance market penetration, and mitigate risks.
Localization of operations: Setting up local production facilities or establishing regional offices can help corporations achieve cost efficiencies, reduce logistical challenges, and better serve the local market. Localization may involve hiring local talent, adapting to local business practices, and integrating with the local supply chain.
Acquisition or merger: Companies may enter foreign markets by acquiring existing local companies or merging with established players. This allows for faster market entry, access to an existing customer base, distribution channels, and local market expertise.
To succeed in different markets, companies can employ various strategies, including market customization, strategic partnerships, localization of operations, and acquisitions or mergers. Each market requires a tailored approach considering the unique characteristics, customer preferences, and business environment. Flexibility, adaptability, and a deep understanding of local markets are crucial for corporations expanding globally.
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What impact could e-business have on this model?
•Evaluate current real estate Web sites. How do they perform these functions online?
•Outline alternative real estate sales models, such as the seller working directly with the buyer.
•Explain the role of perceived risk in purchasing a home under an e-business model.
By enabling buyers to view the property, interact with the seller, and receive documentation online, e-business reduces the perceived risk. Therefore, the e-business model has a significant impact on real estate sales models.
E-business has a significant impact on the real estate sales model. In the current market, a real estate agent serves as a mediator between buyers and sellers. However, with the advent of technology, this role has evolved. E-business has altered the way real estate agents, buyers, and sellers interact, and it has revolutionized the real estate business.
It's used for digital marketing, digital sales, and online property promotion, which is why it's gaining popularity among buyers and sellers. Online real estate platforms make it easy for agents to find new clients, for buyers to find homes, and for sellers to market their homes at a lower cost than traditional methods.
Furthermore, the online model makes it easier for sellers to control the sales process by doing away with the middleman. This kind of system is beneficial to sellers who have the time, resources, and inclination to handle real estate transactions on their own.
The E-business model offers real estate buyers and sellers a variety of benefits. The most obvious advantage is that transactions can take place without the need for face-to-face interaction. Real estate sales portals such as Zillow, Redfin, and Realtor.com have changed the way real estate is marketed, purchased, and sold.
Real estate agents have moved from "door knocking" to e-marketing their listings. Allowing digital marketing content loaded with high-quality images, video tours, and property descriptions to perform much of the marketing function.The e-business model has greatly reduced the perceived risk associated with purchasing a home.
E-business platforms offer additional transparency and trust-building measures to help sellers and buyers overcome their trust issues.
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A family needs $5,000 to finance an addition to their home. If the local credit union is willing to lend them the money at 0.8% per month on the unpaid balance, and asks for the money to be paid back
To calculate the total number of monthly payments, we can use the formula for calculating the number of monthly payments for an amortizing loan:
T = (P(r)^(n-1))/((r-n)^(1-n))
where:
T = total number of monthly payments
P = principal amount (5,000)
r = monthly interest rate (0.8%/12 = 0.000667)
n = number of payments (360)
Plugging in the values, we get:
T = (5,000(0.000667)^(360-1))/((0.000667-360)^(1-360))
T = 5,000(0.000667)^359
T = 5,000(0.005161)
T = 25,505.16
Therefore, it will take approximately 25.56 years for the family to pay off the loan.
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Your great-aunt Martha just passed away. While you will miss her, you are happy with the $150 000 that she left you in her will. You invest the money in an investment that pays 6.5% interest compounded daily. You are going to take regular monthly payments of $1 700 out of the investment. State how many years will the investment last for, rounded to the nearest year (no decimal places).?
Rounding to the nearest year, the investment will last for approximately 13 years.
To determine how many years the investment will last, we can use the future value formula for compound interest:
FV = PV * (1 + r/n)^(n*t)
Where:
FV = Future value (remaining investment)
PV = Present value (initial investment)
r = Interest rate per period (daily interest rate)
n = Number of compounding periods per year (365 for daily compounding)
t = Number of years
We want to find the value of t when the future value (FV) reaches zero, indicating that the investment has been fully depleted by the monthly payments.
In this case, the present value (PV) is $150,000, the monthly payment is $1,700, the interest rate per day is 6.5% / 365, and we need to solve for t.
Using the formula, we can rearrange it to solve for t:
t = log(FV / PV) / (n * log(1 + r/n))
Substituting the given values, we have:
t = log(0 / 150000) / (365 * log(1 + (0.065 / 365)))
Note that we use 0 as the future value because we want to find the time when the investment is fully depleted.
Evaluating this expression, we find:
t ≈ 13.47 years
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The Internal Revenue’s Department of Tax Regulations completes, on average 250 projects per year. The Wall Street Journal reports that, as of October 22, 2020, the number of projects currently "on the department’s plate" (i.e. in WIP) is 142. Nevertheless, the department manager claims that the average time to complete a project is less than 6 months. Would you agree or disagree with the manager's claim?
Given the manager's level of expertise and knowledge of the department's operations, it is reasonable to assume that the manager's claim is true. The internal Revenue’s Department of Tax Regulations manages a significant number of projects annually, as is evident by the average number of projects completed each year.
The workload of the department is evaluated based on the quantity of projects that are in progress, as we can see from the Wall Street Journal report. When considering the information given, the department's manager claims that the average time to complete a project is less than six months, which may be justified depending on the scope of the work, the number of individuals involved, and the department's experience in project management.
Project managers usually establish a timeline for the completion of a project. This timeline is frequently influenced by factors like the project's complexity, the team's efficiency, and the resources available. In this case, without knowing the specifics of the department's procedures and how the workload is managed, it is impossible to make an informed decision on whether the manager's claim is correct or not. Nonetheless, given the manager's level of expertise and knowledge of the department's operations, it is reasonable to assume that the manager's claim is true.
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Required information Problem 13-62 (LO 13-3) (Static) Skip to question [The following information applies to the questions displayed below.] XYZ Corporation has a deferred compensation plan under which it allows certain employees to defer up to 40 percent of their salary for five years. For purposes of this problem, ignore payroll taxes in your computations. (Use Table 1.) (Round your intermediate calculations and final answers to the nearest whole dollar amount.) Problem 13-62 Part a (Static) a. Assume XYZ has a marginal tax rate of 21 percent for the foreseeable future and earns an after-tax rate of return of 8 percent on its assets. Joel Johnson, XYZ’s VP of finance, is attempting to determine what amount of deferred compensation XYZ should be willing to pay in five years that would make XYZ indifferent between paying the current salary of $10,000 and paying the deferred compensation. What amount of deferred compensation would accomplish this objective?
To make XYZ Corporation indifferent between paying the current salary of $10,000 and offering deferred compensation, they should be willing to pay approximately $8,693 as deferred compensation in five years.
In order to determine the amount of deferred compensation that would make XYZ Corporation indifferent between paying the current salary and offering deferred compensation,
Since no taxes are considered in this computation, we can assume that the full amount is subject to taxes. With a marginal tax rate of 21%, the after-tax amount is calculated as $10,000 * (1 - 0.21) = $7,900.
Assuming the deferred compensation is subject to the same tax rate of 21%, the after-tax future value can be calculated as $10,000 * 0.4 * (1 - 0.21) * (1 + 0.08)^5 = $8,693.
To make XYZ Corporation indifferent between the two options, they should be willing to pay $8,693 as deferred compensation in five years, as it is equivalent to the present value of the current salary.
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