To determine the quantity demanded when a price floor is set at $300, we need to analyze the demand and supply equations and find the equilibrium point.
The demand equation is given as Qd = 2,600 - 5P, where Qd represents the quantity demanded and P represents the price. The supply equation is Qs = -1,000 + 10P, where Qs represents the quantity supplied.
At equilibrium, the quantity demanded (Qd) is equal to the quantity supplied (Qs). Setting Qd equal to Qs, we can solve for the equilibrium price (P) and quantity (Q).
Equating the demand and supply equations:
2,600 - 5P = -1,000 + 10P
Combining like terms:
15P = 3,600
Solving for P:
P = 3,600 / 15
P = 240
The equilibrium price is $240. However, since a price floor is set at $300, it is above the equilibrium price. When a price floor is enforced, it prohibits the price from falling below the specified level. As a result, the quantity demanded at the price floor of $300 would be zero because it is above the equilibrium price and exceeds the demand level at that price.
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Problem 8-2A (Algo) Depreciation methods LO P1 A machine costing $215,000 with a four-year life and an estimated $17,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 495,000 units of product during its life. It actually produces the following units: 121,800 in Year 1, 123,600 in Year 2,120,900 in Year 3, 138,700 in Year 4. The total number of units produced by the end of Year 4 exceeds the original estimate-this difference was not predicted. Note: The machine cannot be depreciated below its estimated salvage value. Required: Compute depreciation for each year (and total depreciation of all years combined) for the machine under each depreciation method. (Round your per unit depreciation to 2 decimal places. Round your answers to the nearest whole dollar.)
Year 1: $86,000 (50% × $215,000) Year 2: $51,000 (50% × ($215,000 - $86,000)) Year 3: $30,600 (50% × ($215,000 - $86,000 - $51,000)) Year 4: $18,360 (50% × ($215,000 - $86,000 - $51,000 - $30,600))The total depreciation of all years combined is $186,960 under the double-declining-balance method when combined.
There are a variety of techniques for calculating depreciation that you should know. Under the straight-line, units-of-activity, and double-declining-balance methods, depreciation is calculated. To determine the depreciable base and the useful life, which is estimated in years, these methods rely on two assumptions. The depreciable base is the amount of the fixed asset that is subject to depreciation. The machine, which has a four-year lifespan and an estimated $17,000 salvage value, costs $215,000 and is installed in Luther Company's factory on January 1. The factory manager expects the machine to produce 495,000 units of product over its lifetime. The following units are actually produced: 121,800 in Year 1, 123,600 in Year 2, 120,900 in Year 3, and 138,700 in Year 4. The total number of units produced by the end of Year 4 exceeds the original estimate. The machine cannot be depreciated below its estimated salvage value, according to the note. The machine's depreciable base is $198,000 ($215,000 - $17,000), and its useful life is four years. Straight-line, units-of-activity, and double-declining-balance methods of depreciation are utilized to compute depreciation. To put it another way, the machine's value is divided into four equal parts, one for each year, under the straight-line method. As a result, the machine would depreciate by $49,500 each year for a total of $198,000 over four years. The formula for calculating the unit depreciation rate is: Depreciation = (Cost − Salvage value) ÷ Total expected output. Depreciation for each year is as follows under the units-of-activity method: Year 1: $25,641 (121,800 ÷ 495,000 × ($215,000 − $17,000)) Year 2: $26,077 (123,600 ÷ 495,000 × ($215,000 − $17,000)) Year 3: $25,322 (120,900 ÷ 495,000 × ($215,000 − $17,000)) Year 4: $29,188 (138,700 ÷ 495,000 × ($215,000 − $17,000))The machine's total depreciation over four years is $106,228 when added together. Double-declining-balance depreciation is computed using twice the straight-line rate. As a result, the machine's rate is 50 percent (2 × 25 percent). The machine's double-declining-balance depreciation for each year is as follows: Year 1: $86,000 (50% × $215,000) Year 2: $51,000 (50% × ($215,000 - $86,000)) Year 3: $30,600 (50% × ($215,000 - $86,000 - $51,000)) Year 4: $18,360 (50% × ($215,000 - $86,000 - $51,000 - $30,600))The total depreciation of all years combined is $186,960 under the double-declining-balance method when combined.
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Which of the following statements BEST describes a disability
elmination period
A time deductible rather than a dollar deductible.
O B. A benefit or utilization period.
O C. A dollar deductible rath
The best statement that describes a disability elimination period is:"A time deductible rather than a dollar deductible." The correct answer is option A.
The best statement that describes a disability elimination period is:"A time deductible rather than a dollar deductible." Therefore, option A is correct. The waiting period before a disability insurance policy begins paying benefits is referred to as the disability elimination period. It is the amount of time that a person must be handicapped before being eligible for benefits. The policyholder is responsible for financing their own expenditures during this time.
In contrast to a dollar deductible, which refers to a precise monetary amount that the policyholder must pay before benefits begin, an elimination period is based on time. Before obtaining benefits, the policyholder must wait a specific amount of time, usually measured in days or months.
During the elimination phase, the individual is expected to offset their costs with other resources or savings. After the elimination period has expired, the disability insurance policy will begin paying benefits in accordance with the policy provisions.
In short, a disability elimination period is a time-based waiting period, rather than a dollar amount-based waiting period, during which the policyholder must cover their own expenditures before being eligible for disability insurance benefits.
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Suppose you were to deposit $928.00 into a savings account that earns 1.8% interest compounded continuously. Use the continuously compounding interest formula A = Pe^rt to answer the following. a) How much money will be in the account after 8 years? Round to the nearest cent. b) How much money will be in the account after 16 years? Round your answer to the nearest cent.
The amount of money in the account after 8 years can be calculated using the continuously compounding interest formula A = Pe^rt,
where A is the final amount, P is the principal amount, r is the interest rate, and t is the time in years. In this case, the principal amount is $928.00, the interest rate is 1.8% (or 0.018 in decimal form), and the time is 8 years.
Using the formula, we have A = 928 * e^(0.018 * 8). Calculating this expression will give us the amount of money in the account after 8 years.
b) Similarly, to calculate the amount of money in the account after 16 years, we can use the same formula with a time of 16 years.
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Bread World wants to redesign his oven to increase productivity and quality. Engineers from three companies, K1, K2, K3, submitted his proposal for consideration. No matter what the design, he's used to make 500 cakes a day for his shop. The cost for making a cake is $ 1.3. Baked cakes from the oven can sell for an average of $ 2.5 / cake. Broken cakes cannot be sold. The goal is to choose a design that gives the maximum profit for the rest of his shop within 300 days. Design plans K1, K2, K3 cost $ 100,000, $ 130,000 and $ 180,000. But the K1 design has a chance of 0.8 where 90 out of 100 cakes are undamaged and 0.2 out of 70 out of 100 cakes will not be damaged. There is a chance of 0.15 out of 75 out of 100 cakes will not be damaged. Design K3 has a chance of 0.9 where 95 out of 100 cakes are undamaged and there is a chance of 0.1 out of 80 out of 100 cakes will not be damaged.
What is the expected profit margin of any design that achieves the maximum expected profit margin in 300 days?
The expected profit margin of the design that achieves the maximum expected profit in 300 days cannot be determined based on the provided information.
To calculate the expected profit margin, we would need information on the expected revenue and expected costs for each design option. However, the given information only includes the cost of making a cake ($1.3) and the selling price of a cake ($2.5). We do not have specific data on the expected revenue, costs, or the number of cakes that would be undamaged for each design option.
To determine the maximum expected profit margin, we would need additional information such as the efficiency, productivity, and quality improvement associated with each design option. This would allow us to estimate the impact on the number of undamaged cakes produced and potentially calculate the expected revenue and costs for each design.
Without the necessary information on the expected revenue, costs, and the number of undamaged cakes for each design option, we cannot calculate the expected profit margin or determine which design achieves the maximum expected profit in 300 days. To make an informed decision, it is essential to consider additional details regarding the efficiency, productivity, and quality improvements associated with each design option.
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Let's assume you open an certificate of deposit, and your Bank promises a rate of 13% APR (Annual Percent Rate). The Bank officer mentions that the interest will be compounded semi-annually. What is the Effective Annual Rate (EAR)? Please type the rate as percentage (i.e. 4.2 and not 0.042). Please do not type the \% symbol.
The Effective Annual Rate (EAR) for the certificate of deposit with a 13% APR compounded semi-annually is 13.4225%.
To calculate the Effective Annual Rate (EAR) when the interest is compounded semi-annually, we need to use the formula:
[tex]EAR = (1 + (APR / n))^n - 1[/tex]
where APR is the Annual Percent Rate and n is the number of compounding periods per year.
In this case, the APR is 13% and the interest is compounded semi-annually, which means there are 2 compounding periods per year.
Plugging these values into the formula, we have:
[tex]EAR = (1 + (0.13 / 2))^2 - 1[/tex]
Simplifying the calculation inside the brackets:
[tex]EAR = (1 + 0.065)^2 - 1[/tex]
Calculating the exponent:
[tex]EAR = 1.065^2 - 1[/tex]
Squaring 1.065:
[tex]EAR = 1.134225 - 1[/tex]
Subtracting 1:
[tex]EAR = 0.134225[/tex]
Converting to percentage:
[tex]EAR = 13.4225%[/tex]
Therefore, the Effective Annual Rate (EAR) for the certificate of deposit with a 13% APR compounded semi-annually is 13.4225%.
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Determines illegal business practice in the following situations:
a) Alain receives a flyer advertising leather boots, the price of which is reduced by 70%. When it arrives at the store, there is only one pair left, small in size.
b) Gina reads an ad on a 10 karat gold chain. She only costs $10 and decides to send the payment. When she receives the package at home, she realizes that the chain is not gold.
c) Paul is driving across town to a store offering a 30-50% discount on stereo equipment. When he arrived at the store, he was told that there was only one model on sale and that they were all sold out yesterday.
Illegal business practice in the following situations: A. False advertising B. Fraudulent misrepresentation C. Deceptive advertising.
A. False advertising: It is a practice of disseminating misleading, untrue, or incomplete information. When Alain receives the flyer advertising leather boots, the price of which is reduced by 70% and it arrives at the store, there is only one pair left, small in size. This is false advertising.
B. Fraudulent misrepresentation: The practice of intentionally and fraudulently misrepresenting a product or service. Gina reads an ad on a 10 karat gold chain that only costs $10 and decides to send the payment. When she receives the package at home, she realizes that the chain is not gold. This is fraudulent misrepresentation.
C. Deceptive advertising: It is a type of false advertising that is intended to deceive consumers by making claims about a product or service that are misleading or untrue. Paul is driving across town to a store offering a 30-50% discount on stereo equipment. When he arrived at the store, he was told that there was only one model on sale and that they were all sold out yesterday. This is deceptive advertising.
In all the given situations, the illegal business practices are false advertising, fraudulent misrepresentation, and deceptive advertising.
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This is an Individual assignment 5% of the final grade Late submission after the due date will lose the marks as below Late submission after due time: 1 mark Late Submission after 1 day: 2 marks Late submission after that will receive 0 Word limit: 500-600 NO APA references required write in your own words You are calling a candidate for an interview for the position as per your last assignment (Job description). use open-ended questions as discussed in the class • How you are conducting an interview? In-person, Online, or Telephonic and why did you choose this method (1 mark) • Provide 2 examples of behavioural descriptive questions and what was your intention to ask such questions (you cannot use the same example as discussed in class) (2 marks) • Provide 2 examples of Situational questions and what was your intention to ask such questions (you cannot use the same example as discussed in class) (2 marks)
The face-to-face interviews are preferred for their ability to provide a comprehensive understanding of a candidate's qualifications and fit for the role.
This choice is based on the belief that face-to-face interactions provide a more comprehensive understanding of the candidate's qualifications, communication skills, and overall fit for the role. It allows for direct observation of body language, non-verbal cues, and the ability to build rapport more effectively.
Example of a Behavioral Descriptive 1: "Tell me about a time when you faced a challenging situation at work and how you handled it." The intention of asking this question is to assess the candidate's problem-solving skills, ability to handle pressure, and their approach to overcoming obstacles in a professional setting.
Example of a Behavioral Descriptive 2: "Describe a situation where you had to work collaboratively with a diverse team to achieve a common goal." The intention of asking this question is to evaluate the candidate's interpersonal skills, teamwork abilities, and their capacity to navigate diverse work environments.
Example of a Situational 1: "Imagine you are leading a project that is behind schedule. The team members are demotivated, and there is a conflict among them. How would you handle this situation?" The intention of asking this question is to assess the candidate's problem-solving abilities, leadership skills, and their approach to managing challenging scenarios.
Example of a Situational 2: "If you were faced with conflicting priorities and tight deadlines, how would you prioritize your tasks and ensure timely completion?" The intention of asking this question is to evaluate the candidate's organizational skills, time management abilities, and their ability to handle work pressure effectively.
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Which of the following is true regarding public health?
Group of answer choices
a. Public health provides a good example of market justice.
b. Public health focuses on improving the health of individuals.
c. The government plays a minor role in improving the public health infrastructure at all administrative levels.
d. National surveillance systems evaluate effectiveness of public health.
The option that is true regarding public health is (d) National surveillance systems evaluate effectiveness of public health.
The definition of Public health refers to the art and science of enhancing, maintaining, and managing the well-being of individuals and their community through the application of preventive medicine, health education, and sanitation strategies.
It addresses population health and wellbeing and focuses on the prevention of diseases and injuries. Public health policies and practices aim to improve population health, prevent epidemics, and provide preventive services to communities.
National surveillance systems are in place to monitor and report public health issues such as diseases, illnesses, epidemics, and other issues. This surveillance system plays a major role in ensuring that public health interventions are effective in reducing the incidence and prevalence of public health issues.
They are used to evaluate the effectiveness of public health interventions and to track public health trends and concerns. National surveillance systems provide important information for public health officials and researchers to take appropriate public health actions.
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"KKK" was started in 2013 by Julia and her friend Julie. It provided services for business. Its primary service was jewelry designs. Many jewelers and high-end accessory retailers have their designs appear on their advertisements, promotions, and exhibitions. KKK, since inception, KKK put together a strong design and business team, raised a healthy fund of 2 million dollars and managed through friends and professional network to operate in three countries, further it secured contracts to design for several major jewelry brands. The company had revenue and happy customers almost from day one. It scored a major hire about two-thirds of the way through its existence. KKK hired a Sales Director to manage Sales in all locations, then the business hired the company’s first 15 salespeople and acquired their first high end accessory shop. Sadly, in 2017 KKK, however ceased operations.
KKK’s expertise was jewelry design, and by all objective measures it was very good. In fact, Julia has won several awards during her college year. Her passion for designs and her skills were obvious. She declined a highly paid job offer just to start KKK. She was encouraged by the good economic condition in that year and the potential of rapid exposure of her designs that is enabled by advancement in technology. Most important to her, she knew that most jewelers and jewelry retailor are continuously looking for new designs, their competitive advantage rely on their ability to dazzle jewelry lovers with a new design for every major occasion in their lives. She also knows that, in this industry one design could represent her for life.
In 2015’ jewelry exhibition, KKK designs was displayed on video monitors scattered throughout various hall of the exhibition. These monitors created a lot of conversation among customers who would see designs they had not seen before, which further generated an abundance of enquiries.
In 2019, when Julia was asked what went wrong, she said I love what I was doing it was amazing start up. But KKK just could not grow fast enough. When our firm closed, it was bringing in about $14000 a month and our expenses were $15000 per month. That is normal for start-ups. Many start-ups take considerable amount of time to reach breakeven and then start making money. But in KKK’s case revenue growth was painfully slow and unpredictable. The Co-founder Julie said that KKK was in a terrible possible place. When things work out, we know what to do, but when things move in the other direction, it is hard, but again its clear what to do. KKK found itself struggling neither failing nor succeeding. A decision had to be made no matter how painful it could be.
In her memoir, Julie elaborated on some of the challenges KKK encountered. First, competition is hard with multiple agencies offering similar service. Also selling to jewelers is not easy, it is not a high-volume sale industry. Jewelers are approached all times by junior designers trying to enter the market. Employing an army to try to sell their service also did not help. Before taking the tough decision to seize operation, Julia and Julie discussed possible alternatives. They still had investor money in the bank, so the situation was not horrible. They can continue to operate or partner with a specific jeweler for a percentage, explore other industries or close.
The decision eventually was to shut down. In a meeting with KKK investors and revealing the decision it was interesting how the investors reacted. When KKK closed, the company had in $ 2.2 million in the bank. The investors told them to keep the funds to start another start up.
Q:Reflect on Julia’s and her friend decision to start the business? What they could have done differently to ensure the worthiness of their business idea and demand for it.
Conduct in-depth market research to determine demand, evaluate rivals, create a distinctive value proposition, develop an effective business plan, and devise a scalable growth strategy.
What they could have done differently to ensure the worthiness of their business idea and demand for it.Based on their passion for jewelry design and the perceived market demand for unique designs, Julia and her friend decided to start the business.
However, they had trouble expanding the business and turning a profit. They could have employed a more comprehensive strategy in order to guarantee the viability of their business concept and the demand for it:
Market Study: Carry out in-depth market research to determine the audience they want to appeal to, the competition, and the potential demand for their jewelry designs. They would have been able to assess the market's potential and locate any gaps or opportunities thanks to this.Analyses of the Competition: Surveying the cutthroat scene and understanding how they could separate their plans from different organizations. They would have been able to position their business more effectively if they had identified their competitive advantages and unique selling points.Planning your finances: creating a comprehensive financial plan to comprehend the anticipated revenue, costs, and break-even point. This would have given them a more clear image of the monetary possibility and manageability of the business.Strategy for Sales and Marketing: Fostering a hearty promoting and deals technique to contact likely clients and lay areas of strength for out with gem specialists. This might have included compelling marking, designated promoting, and assembling associations with key industry players.Plan for Scalability: Develop a scalable business model that supports expansion and growth. They could have looked into options like strategic partnerships, collaborations, or expanding their product range to meet the needs of various industries or customer groups.By zeroing in on these viewpoints and carrying out a more essential methodology, Julia and her companion might have expanded their odds of coming out on top and moderated a portion of the difficulties they looked in developing their business.
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Jason Jackson is attempting to evaluate two possible portfolios consisting of the same five assets but held in different proportions. He is particularly interested in using beta to compare the risk of the portfolios and, in this regard, has gathered the following data: a. Calculate the betas for portfolios A and B. b. Compare the risk of each portfolio to the market as well as to each other. Which portfolio is more risky? C a. The beta of portfolio A is (Round to three decimal places.) The beta of portfolio B is. (Round to three decimal places.) b. Portfolio ▼is slightly less risky than the market (average risk), while portfolio is more risky than the market. Portfolio 's return will move more than portfolio ▼'s for a given increase or decrease in market risk. (Select from the drop-down menus.) Portfolio is the more risky portfolio. (Select from the drop-down menu.) - Data table (Click on the icon here in order to copy its contents of the data table below into a spreadsheet.) Portfolio Weights Asset Asset Beta Portfolio A Portfolio B 1 1.26 21% 33% 0.69 32% 12% 1.24 5% 15% 1.12 12% 17% 0.88 30% 23% 100% 100% GAWN 2 3 4 5 Total Print Done
The beta of portfolio A is 0.947, the beta of portfolio B is 1.077, and portfolio A is less risky compared to the market (average risk) and also less risky compared to portfolio B.
To calculate the betas for portfolios A and B, it is required to use the asset betas and portfolio weights. Given the data table, let's calculate the betas:
Portfolio A:
[tex]Beta (A) = (Weight(Asset 1) \times Beta(Asset 1)) + (Weight(Asset 2) \times Beta(Asset 2)) + (Weight(Asset 3) \times Beta(Asset 3)) + (Weight(Asset 4) \times Beta(Asset 4)) + (Weight(Asset 5) \times Beta(Asset 5))\\Beta(A) = (0.21 \times 1.26) + (0.32 \times 0.69) + (0.05 \times 1.24) + (0.12 \times 1.12) + (0.30 \times 0.88)\\Beta(A) = 0.2646 + 0.2208 + 0.062 + 0.1344 + 0.264\\Beta(A) = 0.9468[/tex]
Portfolio B:
[tex]Beta(B) = (Weight(Asset 1) \times Beta(Asset 1)) + (Weight(Asset 2) \times Beta(Asset 2)) + (Weight(Asset 3) \times Beta(Asset 3)) + (Weight(Asset 4) \timesBeta(Asset 4)) + (Weight(Asset 5) \times Beta(Asset 5))\\Beta(B) = (0.33 \times 1.26) + (0.12 \times 0.69) + (0.15 \times 1.24) + (0.17 \times 1.12) + (0.23 \times 0.88)\\Beta(B) = 0.4158 + 0.0828 + 0.186 + 0.1904 + 0.2024\\Beta(B) = 1.0774[/tex]
Now let's compare the risk of each portfolio to the market and to each other:
Portfolio A has a beta of 0.947, while Portfolio B has a beta of 1.077.
Compared to the market:
Portfolio A: Beta(A) < 1, which means it is less risky than the market (average risk).
Portfolio B: Beta(B) > 1, which means it is riskier than the market.
Comparing to each other:
Portfolio A has a lower beta (0.947) compared to Portfolio B (1.077), indicating that Portfolio A is slightly less risky than Portfolio B.
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magine yourself starting your own business. What is one specific
thing you learned in Unit 05 (Agency Law / Intro to Employment Law)
that will affect your decisions as you run this new business?
Employee Supervision and Monitoring I will establish clear guidelines, policies, and procedures that define acceptable behavior, ethical standards, and safety protocols.
Regular employee supervision and performance evaluations will be conducted to identify and address any potential issues or concerns promptly.Insurance Coverage Recognizing the potential liability risks associated with running a business, I will obtain appropriate insurance coverage, such as general liability insurance, workers' compensation insurance, and professional liability insurance. This will provide financial protection and coverage in case of any legal claims arising from the actions of my employees.
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(A1, C3, D4): 7.5 Within your studies of the new product development process, look at the following mini cases and answer the questions that follow. Kentucky Grilled Chicken Case When you're a giant company like Kentucky you can perform new product development process your own stores. Take Kentucky Grilled Chicken for instance. I'm sure it began during an __________. They must have said, Hey, what is the trend now? Or maybe it is coming from a consumer or supplier. Either way, the Kentucky Grilled Chicken passed the B ____________ stage which helps spot good ideas and drop poor ones as soon as possible. Next, came the C _____________, a detailed version of the idea stated in meaningful consumer terms. Then comes the D __________stage where Kentucky described their target market, the planned value proposition, and the sales, market share, and profit goals. Next step would be performing a E _____________on the Kentucky Grilled Chicken, reviewing sales, costs, and profit projections to see if they fit with the objectives of the company. Kentucky wouldn't then just commercialize the product to every Kentucky that serves to their target market, they would first have to do F__________ by introducing the product and marketing program into real market conditions. Here, they would offer the Kentucky Grilled Chicken at certain locations within their target market.
The new product development process has been described by the Kentucky Grilled Chicken case, where the company has implemented the process through various stages. The Kentucky Grilled Chicken was an idea that came up, and the first stage was idea generation where they must have said, "Hey, what is the trend now?
Kentucky Fried Chicken (KFC) is a well-known American fast-food company that started in 1930 and is now the world's second-largest restaurant chain. The case of Kentucky Grilled Chicken provides insight into how KFC implemented the new product development process to expand their menu offerings. The first stage of the process is idea generation, which involves brainstorming and identifying new ideas for products or services.The screening stage follows, where the ideas are evaluated based on their potential success in the market. The concept development stage is where the idea is developed further and put in meaningful consumer terms. In the product development stage, the target market, value proposition, sales, market share, and profit goals are described. Business analysis follows this stage, where sales, costs, and profit projections are reviewed to determine if they fit the company's objectives.Market testing is performed in the next stage, where the product is introduced to real market conditions, and sales are monitored. Afterward, commercialization takes place, where the product is released into the market and promoted to the target audience.
The Kentucky Grilled Chicken case demonstrated the process that KFC implemented to develop and launch their new product. By following this process, they could identify and evaluate new ideas, develop them into meaningful concepts, and launch successful products. This case highlights the importance of a well-defined new product development process in the success of a business and serves as an example of how to implement the process effectively.
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Problem 2 You have until 9:00 PM to complete this assignment. Part 1 What is the present value of 1000 to be recieved 1 year from now given a discount rate of 20%? 0+ decimals Save
The present value of $1000 to be received one year from now, with a discount rate of 20%, is approximately $833.33.
To calculate the present value of $1000 to be received one year from now with a discount rate of 20%, we need to discount the future cash flow. The present value represents the current value of the future cash flow, taking into account the time value of money and the discount rate.
The present value formula is given by PV = FV / (1 + r), where PV is the present value, FV is the future value, and r is the discount rate. In this case, the future value is $1000 and the discount rate is 20% (or 0.20).
Using the formula, we can calculate the present value as follows:
PV = $1000 / (1 + 0.20) = $1000 / 1.20 = $833.33 (rounded to the nearest cent).
Therefore, the present value of $1000 to be received one year from now, with a discount rate of 20%, is approximately $833.33.
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Should the law treat unofficial partnerships as such even if
there is no written agreement?
Unofficial partnerships should be treated as such even if there is no written agreement.
What are reasons?There are several reasons why unofficial partnerships should be treated as such even if there is no written agreement. These reasons are given below:
Reasons:
1. The very nature of the partnership:
Partnerships are often based on mutual trust and goodwill, not just a written agreement. Even if there is no written agreement, the partnership may exist as long as the parties involved intended it to be so.
2. The objective test:
The objective test is used to determine whether or not a partnership exists.
This test is based on whether the parties have demonstrated an intention to carry on a business together, share profits, and bear losses.
Even if there is no written agreement, the parties' actions and conduct can be used to show that a partnership exists.
3. The equitable principle of partnership:
Partnership law is based on equity and fairness. This means that the law will look at the substance of the relationship between the parties rather than the form of the relationship.
As such, even if there is no written agreement, the parties' conduct can be used to determine whether or not a partnership exists.
In conclusion, the law should treat unofficial partnerships as such even if there is no written agreement.
This is because the law should look at the substance of the relationship between the parties rather than the form of the relationship.
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A man borrows $2 000 from a credit union. Each month. he is to pay $100 on the principal. He also pays interest at the rate of 3/4% per month on the unpaid balance at the beginning of the month. What is the total payment required at the end of the first month? O a. $115.00 O b. None of the choices is correct. O c. $101.25 O d. $115.25 Oe. $112.50
The question states that a man borrows $2,000 from a credit union and is required to make monthly payments. Each month, he pays $100 towards the principal and also pays interest at a rate of 3/4% per month on the unpaid balance.
The question asks for the total payment required at the end of the first month. The answer options provided are: a) $115.00, b) None of the choices is correct, c) $101.25, d) $115.25, and e) $112.50.
To calculate the total payment required at the end of the first month, we need to consider both the payment towards the principal and the interest on the unpaid balance.
In the first month, the man pays $100 towards the principal. The remaining balance after this payment is $2,000 - $100 = $1,900.
Next, we calculate the interest on the unpaid balance at the beginning of the month. The interest rate is 3/4% per month, which is equivalent to 0.0075 as a decimal.
The interest for the first month is calculated as $1,900 * 0.0075 = $14.25.
Therefore, the total payment required at the end of the first month is $100 (principal payment) + $14.25 (interest payment) = $114.25.
Among the given answer options, the closest value is option d) $115.25. However, the correct answer should be option e) None of the choices is correct, as none of the provided options matches the calculated total payment of $114.25.
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Assume that the Citibank trading room is dealing on the following quotations Spot Sterling =$1.5000, Euro-Sterling interest rate (6-months) = 11.00% p.a. Euro-$ interest rate (6- months) = 6.00% p.a. and that Barclays Bank is quoting Forward Sterling (6-months) at $1.4550. Describe the transactions you would make to earn risk-free covered interest arbitrage profits.
To earn risk-free covered interest arbitrage profits, the following transactions can be made based on the given information:
1. Borrowing in Euros and converting to Sterling at the spot rate.
2. Investing the borrowed amount in the Euro-Sterling interest rate at 11% per annum.
3. Entering into a forward contract with Barclays Bank to sell the Sterling at the forward rate of $1.4550.
4. Converting the Sterling received from the forward contract back to Euros at the spot rate.
5. Repaying the borrowed Euros and pocketing the difference as risk-free covered interest arbitrage profits.
The first step in the covered interest arbitrage strategy is to borrow in Euros. Since the Euro-Sterling interest rate is 11% per annum, funds can be borrowed at this rate. The borrowed amount is then converted to Sterling at the spot rate of $1.5000.
Next, the Sterling amount is invested in the Euro-Sterling interest rate, which yields 11% per annum. This investment is made for the same 6-month period as the forward contract.
Simultaneously, a forward contract is entered into with Barclays Bank to sell the Sterling at the forward rate of $1.4550. This allows for the conversion of the Sterling back to Euros at a predetermined rate.
At the end of the 6-month period, when the forward contract matures, the Sterling received from the forward contract is converted back to Euros at the spot rate.
Finally, the borrowed Euros are repaid, and the difference between the investment returns and the repayment amount is the risk-free covered interest arbitrage profit.
This strategy exploits the interest rate differential between the Euro-Sterling and Euro-Dollar rates, along with the forward exchange rate, to generate risk-free profits. By taking advantage of these market discrepancies, investors can earn arbitrage profits without taking on any market risk.
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An agent working for a seller may not work with a. the buyer as a transaction broker and the purchase of the sellers property b. the buyer as in agent in purchasing another property c. other sellers as an agent and selling another property d. the buyer as a customer in the purchase of the seller's property 39. A deed of trust to the public trustees may be foreclosed by which of the following methods a. Private sale by the office of the public trustee b. public sale by the courts c. Public now by the office of the public trustee d. public sale by the holder of the indebtedness
An agent working for a seller may not work with the buyer as a customer in the purchase of the seller's property. This is because the agent has a fiduciary duty to the seller and cannot represent the interests of both the seller and the buyer.
In a real estate transaction, a fiduciary duty is a legal obligation that requires an agent to act in the best interests of their client. This means that the agent must put the client's interests ahead of their own and must not disclose any confidential information that is shared with them by the client
In the case of a real estate transaction, the agent who is working for the seller has a fiduciary duty to the seller. This means that the agent cannot represent the interests of the buyer. If the agent were to represent the buyer, they would be in breach of their fiduciary duty to the seller.
The agent could, however, work with the buyer as a transaction broker. In this role, the agent would be responsible for facilitating the transaction and would not be representing the interests of either the seller or the buyer.
Here are the answers to your other question:
A deed of trust to the public trustees may be foreclosed by which of the following methods:
Public sale by the office of the public trustee.
A deed of trust is a type of security interest in real property. It is similar to a mortgage, but it is secured by a trust deed instead of a mortgage.
A public trustee is a government official who is responsible for managing the foreclosure process. When a deed of trust is foreclosed, the public trustee will sell the property at a public auction.
The proceeds from the sale will be used to pay off the debt that is secured by the deed of trust. Any remaining proceeds will be returned to the trustor, which is the person who originally granted the deed of trust.
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Tesla's global market share fell to its lowest level in over 2 years as electric car competition heats up
Answer:
Explanation:
According to the statement, Tesla's global market share has declined to its lowest level in over 2 years due to increased competition in the electric car market. This suggests that other companies are entering the market and gaining traction with their own electric vehicle offerings.
Competition in the electric car industry has been intensifying as more automakers invest in and develop electric vehicles to meet the growing demand for sustainable transportation. This increased competition presents challenges for Tesla, which had previously enjoyed a dominant position in the market.
The declining market share could be attributed to several factors. Firstly, the expansion of electric vehicle offerings from established automakers provides consumers with more options, potentially diverting some demand away from Tesla. Additionally, the improved affordability and increased availability of electric vehicles from competing brands may have attracted customers who were previously considering Tesla.
Tesla's response to this competition will be crucial in maintaining or regaining market share. The company has been known for its innovation, technological advancements, and brand appeal. To address the competitive landscape, Tesla may need to focus on product differentiation, expanding its market reach, and ensuring customer loyalty through superior customer experience, service, and charging infrastructure.
It's important to note that market share fluctuation is a common occurrence in rapidly evolving industries, and it does not necessarily indicate a decline in overall sales or long-term prospects for a company. Tesla's performance and ability to adapt to the changing dynamics of the electric car market will ultimately determine its future success.
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Lean was developed in manufacturing and has little application in services.
False. Lean principles, originally developed in manufacturing, have been successfully applied in various service industries as well. Lean thinking focuses on eliminating waste, improving efficiency, and delivering value to customers.
While it may have originated in manufacturing, the core principles of Lean can be adapted and applied to service-based organizations to achieve process optimization and improve overall performance.
In service industries, Lean principles can be used to streamline processes, reduce waiting times, improve service quality, and enhance customer satisfaction.
For example, Lean methodologies have been implemented in healthcare to reduce patient waiting times, in logistics to optimize transportation and delivery processes, in banking to enhance transaction efficiency, and in hospitality to improve guest experiences.
The key lies in understanding the principles of Lean and adapting them to the unique characteristics of the service industry.
While the specific tools and techniques used may differ, the core concepts of waste reduction, continuous improvement, and customer focus can be effectively applied to improve service delivery and operational efficiency.
By embracing Lean principles, service organizations can achieve greater productivity, cost savings, and customer value.
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QUESTION 6 Today, Thomas deposited $100,000 in a three-year, 12%
CD that compounds quarterly. What is the maturity value of the
CD?
The maturity value of the CD when Thomas deposited $100,00 for three year compounding quarterly is $133,590.23.
Given that Thomas deposited $100,000 in a three-year, 12% CD that compounds quarterly.
Therefore, the maturity value of the CD can be calculated as follows:
Calculate the rate of interest per quarter(R)
R = 12% / 4 quarters
R = 3%
Calculate the number of quarters in 3 years
3 years = 3 * 4 quarters per year = 12 quarters
Calculate the maturity value using the formula:
M = P(1 + R/100)n
Where,M = Maturity , P= Principal, R = Rate of interest per quarter, N = Number of quarters
M = 100,000 (1 + 3/100)¹²
M = $133,590.23
Therefore, the maturity value of the CD is $133,590.23.
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You've just secured a new client in your accounting practice, Peter's Auto Supply Corporation (PASC), a brand-new small business specializing in providing auto supplies to car repair shops. The owner, Peter Peck, is a terrific auto mechanic, but definitely not an accountant. Your job is to help Peter put his affairs in order. Luckily, Peter has only been in operation for a month and things have not gotten too out of hand yet! Peter has to submit his financial statements to his investors and doesn't know where to begin. It's your job to go through the complete accounting cycle to prepare the financial statements for PASC. In this project, you will need to complete the following steps for PASC. Prepare the Journal Entries in the General Journal Post Journal Entries to the General Ledger Prepare a Trial Balance Prepare the Adjusting Entries Post Adjusting Entries to the General Ledger Prepare an Adjusted Trial Balance Prepare the Financial Statements Prepare the Closing Entries Post Closing Entries to the General Ledger Prepare the Post Closing Trial Balance
PASC ensures that its financial records are accurately maintained, adjusting entries are properly accounted for, and reliable financial statements are prepared for submission to investors and other stakeholders.
1. Prepare journal entries in the general journal: Journal entries are used to record all financial transactions of the business. This includes recording sales, expenses, purchases, and other monetary activities. Each entry follows a standardized format, documenting the accounts affected and the corresponding debit and credit amounts.
2. Post journal entries to the general ledger: The general ledger is a central repository that contains all the individual accounts of PASC. Each journal entry is posted to the respective accounts in the ledger, updating their balances.
3. Prepare a trial balance: A trial balance is a list of all the accounts in the general ledger along with their respective debit and credit balances. It serves as a preliminary check to ensure that the total debits equal the total credits, which indicates that the accounts have been accurately posted.
4. Make adjusting entries and post them to the general ledger: Adjusting entries are made at the end of an accounting period to account for transactions that are not recorded in the regular journal entries. This includes accruals, deferrals, estimates, and corrections. Adjusting entries are necessary to ensure that the financial statements reflect the accurate financial position of the business.
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(Comprehensive problem) Over the past few years, Microsoft founder Bill Gates' net worth has fluctuated between $20 billion and $130 billion. In early 2006, it was about $1 percent by moving billions into his charitable foundation. Let's see what Bill Gates can do with his money in the following problems
a. Manhattan's native tribe sold Manhattan Island to Peter Minuit for $24 in 1626. Now, 387 years later in 2013, Bill Gates wants to buy the island from the "current natives." H percent annual return on the original $24 purchase price?
b. Bill Gates decides to pass on Manhattan and instead plans to buy the city of Seattle, Washington, for $50 billion in 10 years. How much would Bill have to invest today at 1
c. Now assume Bill Gates only wants to invest half his net worth today, $13 billion, in order to buy Seattle for $50 billion in 10 years. What annual rate of return would he have d. Instead of buying and running large cities, Bill Gates is considering quitting the rigors of the business world and retiring to work on his golf game. To fund his retirement, Bil
d. Instead of buying and running latge cities, bill gates is considering quitting the rigors of the business word and retiring to work on his golf game. To fund his retirement , bill woulf invest hid $20 billion fortune in safe investments with an expect annual rete of turn of 8 percent. He also wants to make 40 equal annual withdrawals from this retirement fund beginning a year from today, running his retirement fund to $0 at the end of 40 years. How much can hid annual withdrawal be in this case?
Bill Gates can make an annual withdrawal of approximately $645.79 million from his retirement fund for 40 years if he wants to deplete the fund to $0 at the end of 40 years.
a. To calculate the annual return on the original $24 purchase price of Manhattan Island, we need to know the current value of the island. However, the problem does not provide that information.
b. To find out how much Bill Gates would have to invest today at a 1% annual return to buy the city of Seattle for $50 billion in 10 years, we can use the formula for compound interest:
Future Value = Present Value * (1 + Interest Rate)^Time
Rearranging the formula to solve for the Present Value:
Present Value = Future Value / (1 + Interest Rate)^Time
Here, the Future Value is $50 billion, the Interest Rate is 1% (expressed as 0.01), and the Time is 10 years:
Present Value = $50 billion / (1 + 0.01)^10
Present Value = $50 billion / (1.01)^10
Present Value ≈ $44.39 billion
Therefore, Bill Gates would need to invest approximately $44.39 billion today at a 1% annual return to accumulate $50 billion in 10 years.
c. If Bill Gates wants to invest $13 billion today (half his net worth) to buy Seattle for $50 billion in 10 years, we can use the same formula to calculate the required annual rate of return:
Future Value = Present Value * (1 + Interest Rate)^Time
Rearranging the formula to solve for the Interest Rate:
Interest Rate = ((Future Value / Present Value)^(1/Time)) - 1
Here, the Present Value is $13 billion, the Future Value is $50 billion, and the Time is 10 years:
Interest Rate = (($50 billion / $13 billion)^(1/10)) - 1
Interest Rate ≈ 0.1396 or 13.96%
Therefore, Bill Gates would need to earn an annual rate of return of approximately 13.96% on his $13 billion investment to accumulate $50 billion in 10 years.
d. If Bill Gates wants to make 40 equal annual withdrawals from his $20 billion retirement fund, with an expected annual rate of return of 8%, and deplete the fund to $0 at the end of 40 years, we can use the formula for the future value of an annuity:
Annual Withdrawal = (Present Value * Interest Rate) / (1 - (1 + Interest Rate)^(-Time))
Here, the Present Value is $20 billion, the Interest Rate is 8% (expressed as 0.08), and the Time is 40 years:
Annual Withdrawal = ($20 billion * 0.08) / (1 - (1 + 0.08)^(-40))
Annual Withdrawal ≈ $645.79 million
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Describe two methods of determining the fixed and variable components of mixed costs. What is meant by the term break-even point? What are two ways in which the break-even point can be expressed? ➤What is the relevant range? ➤What is the formula for calculating the break-even point in sales revenue
Two methods of determining the fixed and variable components of mixed costs are the High-Low method and the Scattergraph method.
The High-Low method uses the highest and lowest points of data to calculate the variable cost per unit and the fixed cost component. The Scattergraph method uses a graph to plot data points and determine the slope of the line to calculate the variable cost per unit.
The break-even point refers to the point at which the total revenue equals the total cost, resulting in zero profit. It is the point where the company sells enough units to cover all fixed and variable costs. Two ways to express the break-even point are in units and in sales revenue.
The relevant range refers to the range of activity where the total fixed cost, variable cost per unit, and revenue per unit remain constant.
The formula for calculating the break-even point in sales revenue is as follows: Break-even point = Total fixed costs / Contribution margin ratio, where the contribution margin ratio is equal to the contribution margin per unit divided by the selling price per unit.
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You are the accounting manager for Kool Ragz, Inc., a manufacturer of men's and women's clothing. The company needs to borrow $1,300,000 for 90 days in order to purchase a large quantity of material at "closeout" prices. The interest rate for such loans at your back, Rimrock Bank, is 14% using ordinary interest.
a.) What is the amount (in $) of interest on this loan? $______
b.) After making a few "shopping" calls, you find that Southside National Bank will lend at 14% using exact interest. What is the amount (in $) of interest on this offer?
$_________
c.) So that it can keep your business, Rimrock Bank has offered a loan at 13.5% using ordinary interest. What is the amount (in $) of interest on this offer?
$__________
d.) (Challenge) If Southside National wants to compete with Rimrock's last offer (part c) by charging $1,875 less interest, what rate (as a %), rounded to the nearest hundredths of a percent, must it quote using exact interest?
________%
A. the amount of interest on this loan is $42,000.
B. the amount of interest on this offer is $41,260.27.
C. the amount of interest on this offer is $40,838.
D. Southside National Bank must quote an interest rate of 15.2%.
a. The interest rate is 14%. Using the formula I = Prt, where I is the interest, P is the principal amount, r is the interest rate, and t is the time in years, we have:
I = Prt.
I = (1,300,000)(0.14)(90/360).
I = $42,000.
Therefore, the amount of interest on this loan is $42,000.
b. The interest rate is 14%. Using the formula I = Prt, where I is the interest, P is the principal amount, r is the interest rate, and t is the time in years, we have:
I = Prt.
I = (1,300,000)(0.14)(90/365).
I = $41,260.27.
Therefore, the amount of interest on this offer is $41,260.27. Rounded to the nearest penny, this is $41,260.00.
c. The interest rate is 13.5%. Using the formula I = Prt, where I is the interest, P is the principal amount, r is the interest rate, and t is the time in years, we have:
I = Prt.
I = (1,300,000)(0.135)(90/360).
I = $40,838.
Therefore, the amount of interest on this offer is $40,838.
d. (Challenge) We can set up an equation to solve for the interest rate Southside National Bank must quote:
$40,838 = (1,300,000)(r)(90/365) - $1,875.
$40,838 = (1,300,000)(r)(0.246575) - $1,875.
$42,713 = (1,300,000)(r)(0.246575).
r = $42,713 / [(1,300,000)(0.246575)].
r = 0.152.
r ≈ 15.2%.
Therefore, Southside National Bank must quote an interest rate of 15.2%, rounded to the nearest hundredth of a percent.
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A severe recession is called a(n): a. depression. O b. deflation. c. exogenous event. d. market-clearing assumption.
A severe recession is called a depression.
A depression refers to a long and severe economic downturn characterized by a significant decline in economic activity, high unemployment rates, and a sharp contraction in production and trade. It is a more intense and prolonged form of a recession, typically lasting for an extended period and involving widespread economic hardship. During a depression, there is a substantial decline in economic output, consumer spending, business investment, and overall economic confidence. Governments and central banks often implement various measures to mitigate the effects of a depression and stimulate economic recovery. The term "depression" is widely recognized in economic terminology to describe a severe recessionary phase.
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"THE EFFECT OF BRAND EXPERIENCE ON BRAND RELATIONSHIP QUALITY" Hee Jung, Lee, Seoul National University Myung Soo, Kang, Hansung University
Summarize the article in a logical flow.
Note: You do not have to be able to understand the analyzes under the
RESULTS title, you may skip that part BUT only that part; the rest is included!
Based on the given article and the knowledge we learned in the classes, share
a brand experience and evaluate its effect on your brand relationship quality,
brand commitment, and brand trust.
Brand experience has a significant positive effect on brand relationship quality, enhancing brand commitment and brand trust.
What is the impact of brand experience on brand relationship quality?The article "The Effect of Brand Experience on Brand Relationship Quality" by Hee Jung Lee and Myung Soo Kang explores the impact of brand experience on brand relationship quality. The study focuses on understanding how brand experiences influence brand commitment and brand trust.
The researchers conducted a survey and collected data from participants to analyze the relationship between brand experience and brand relationship quality.
According to the findings, brand experience has a significant positive effect on brand relationship quality. A positive brand experience enhances brand commitment, which refers to the customer's emotional attachment and loyalty towards the brand.
It also increases brand trust, which represents the customer's belief in the brand's reliability and credibility. The study highlights the importance of creating meaningful and memorable brand experiences to foster strong brand relationships.
Applying this knowledge, I reflect on my own brand experience with a clothing brand. The brand consistently delivers high-quality products that align with my style preferences.
This positive experience has led to a strong brand relationship quality, as I feel committed to purchasing from the brand and trusting their products. The brand's attention to detail, customer service, and consistent delivery of a great experience have contributed to building a positive brand relationship.
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True or False
Standard time is used to develop a time standard based on observations of one worker taken over a number of cycles. That is then applied to the work of all others in the organization who perform the same task
True. Standard time is a method used to establish a time standard by observing one worker performing a task over multiple cycles. This observed time is then applied to all other workers in the organization who perform the same task.
In standard time systems, a time study is conducted to determine the average time it takes for a skilled worker to complete a specific job or task. The worker's performance is observed and measured over several repetitions or cycles to ensure accuracy and account for variations. This observed time is then used as the standard to estimate the time required for other workers to perform the same task. By establishing a standard time, organizations can plan and schedule work, allocate resources effectively, and set productivity goals.
The use of standard time allows for consistency and fairness in evaluating and comparing workers' performance. It provides a benchmark for measuring productivity, identifying inefficiencies, and implementing improvements in work methods. However, it is important to note that individual workers may have different skill levels or work at different paces, so adjustments may be necessary when applying the standard time to different individuals.
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The following table contains the six-year EPS history for Corporation X. The dividend payout ratio is 30%.
Year EPS
2013 0.75
2014 0.78
2015 0.81
2016 0.82
2017 0.85
2018 0.90
3) Assume dividend is growing at the the compound growth rate of the dividend in 2019, what is the dividend per share in 2019?
Answer: $
Format the result with three decimal places.
4) Use dividend constant growth model, calculate the intrinsic value of the stock using a 10% required rate of return.
Answer: $
Format the result with two decimal places.
3) the dividend per share in 2019 is approximately $0.937.
4)the intrinsic value of the stock using a 10% required rate of return is approximately $20.24.
To calculate the dividend per share in 2019, we need to find the compound growth rate of the dividend from 2013 to 2018 and apply that growth rate to the 2018 dividend.
Step 1: Calculate the compound growth rate.
Dividend in 2013 = $0.75
Dividend in 2018 = $0.90
Compound growth rate = (Dividend in 2018 / Dividend in 2013) ^ (1 / Number of Years) - 1
Compound growth rate = ($0.90 / $0.75) ^ (1 / 5) - 1
Compound growth rate ≈ 0.0432 or 4.32%
Step 2: Calculate the dividend per share in 2019.
Dividend in 2018 = $0.90
Dividend per share in 2019 = Dividend in 2018 * (1 + Compound growth rate)
Dividend per share in 2019 ≈ $0.90 * (1 + 0.0432)
Dividend per share in 2019 ≈ $0.937
Therefore, the dividend per share in 2019 is approximately $0.937.
Now, let's calculate the intrinsic value of the stock using the dividendconstant growth model.
Dividend in 2018 = $0.90 (from the previous calculations)
Required rate of return = 10% or 0.10 (as a decimal)
Intrinsic value of the stock = the intrinsic value of the stock using a 10% required rate of return is approximately $20.24. Dividend in 2018 / (Required rate of return - Compound growth rate)
Intrinsic value of the stock = $0.90 / (0.10 - 0.0432)
Intrinsic value of the stock ≈ $20.24
Therefore, the intrinsic value of the stock using a 10% required rate of return is approximately $20.24.
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Flexible Budget for Selling and Administrative Expenses Agent Blaze uses flexible budgets that are based on the following data: Sales commissions 10% of sales 18% of sales Advertising expense Miscellaneous selling expense $2,500 plus 3% of sales Office salaries expense $17,000 per month Office supplies expense 4% of sales Miscellaneous administrative expense $1,750 per month plus 2% of sales Prepare a flexible selling and administrative expenses budget for January 2016, for sales volumes of $110,000, $140,000, and $165,000. (Use Exhibit 5 as a model.) Enter all amounts as positive numbers.
Flexible selling and administrative expenses budget for January 2016:
Sales Volume $110,000: Total Expenses $43,150
Sales Volume $140,000: Total Expenses $48,100
Sales Volume $165,000: Total Expenses $53,000
To prepare a flexible selling and administrative expenses budget for January 2016, we need to calculate the expenses based on the given percentages and fixed amounts for different sales volumes. Here's the breakdown for each expense category:
1. Sales Commissions:
- 10% of sales
2. Advertising Expense:
- Miscellaneous Selling Expense: $2,500 plus 3% of sales
3. Office Salaries Expense:
- Fixed amount: $17,000 per month
4. Office Supplies Expense:
- 4% of sales
5. Miscellaneous Administrative Expense:
- Fixed amount: $1,750 per month plus 2% of sales
Based on the above information, here's the flexible selling and administrative expenses budget for January 2016 for the given sales volumes:
Sales Volume: $110,000
- Sales Commissions: $11,000 (10% of $110,000)
- Advertising Expense: $5,800 ($2,500 + 3% of $110,000)
- Office Salaries Expense: $17,000 (fixed amount)
- Office Supplies Expense: $4,400 (4% of $110,000)
- Miscellaneous Administrative Expense: $4,950 ($1,750 + 2% of $110,000)
- Total Selling and Administrative Expenses: $43,150
Sales Volume: $140,000
- Sales Commissions: $14,000 (10% of $140,000)
- Advertising Expense: $6,200 ($2,500 + 3% of $140,000)
- Office Salaries Expense: $17,000 (fixed amount)
- Office Supplies Expense: $5,600 (4% of $140,000)
- Miscellaneous Administrative Expense: $5,300 ($1,750 + 2% of $140,000)
- Total Selling and Administrative Expenses: $48,100
Sales Volume: $165,000
- Sales Commissions: $16,500 (10% of $165,000)
- Advertising Expense: $6,950 ($2,500 + 3% of $165,000)
- Office Salaries Expense: $17,000 (fixed amount)
- Office Supplies Expense: $6,600 (4% of $165,000)
- Miscellaneous Administrative Expense: $5,950 ($1,750 + 2% of $165,000)
- Total Selling and Administrative Expenses: $53,000
Please note that the amounts provided are based on the given formulas and assumptions.
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12. Discuss how a manager can address cultural and social
sensitivities in their team to ensure inclusivity and be mindful of
diversity.
Addressing cultural and social sensitivities in a team is crucial for fostering inclusivity and embracing diversity. Here are several ways a manager can approach this:
Promote knowledge and awareness by setting up training sessions, workshops, or seminars to inform team members about various cultures, social mores, and sensitivities. This promotes a more inclusive atmosphere by raising knowledge and understanding among team members.
Promote courteous and open communication: Managers should promote respectful and open communication within the team. Members of the team should feel free to share their ideas, ask questions, and talk about cultural and societal differences. This fosters empathy and improves comprehension of one another's histories and experiences.
Establish clear standards and enforce a respect-based culture within the team in order to foster a culture of mutual respect. This entails encouraging respect for all team members, regardless of their ethnic or social backgrounds, in speech, deed, and attitude.
Set the tone for inclusivity and diversity by setting a good example. Managers are essential in this regard. Managers can lead by example and have a beneficial effect on the team by being aware of their own actions, words, and biases. They ought to actively consider many points of view, encourage justice, and deal with any instances of prejudice or discrimination as soon as they arise.
Promote diversity: Managers can plan occasions or activities that promote diversity among the team members. Cultural festivals, team-building activities that promote learning about various cultures, or recognising and valuing individual accomplishments and efforts are a few examples of this. Celebrating diversity empowers team members to embrace their distinctive identities and fosters a sense of belonging.
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