If the appropriate discount rate is 16 percent, project B should be selected because it has a higher NPV than project A. Hence, the correct option is Project B.
a-1. The payback period for each project is:Project A:Payback period= 1 + (10000/16500)= 1.606
Project B:Payback period= 2 + (4000/6500)= 2.615a-2. If the company's payback period is two years, neither of these projects should be chosen because they do not meet the requirement.
b-1. To calculate NPV, the following formula is used:NPV= (Cash flow / (1 + Discount rate)^Number of years) - Initial investment Project A:NPV= (−$16,000 / (1 + 0.16)^0) + (10,000 / (1 + 0.16)^1) + (6,500 / (1 + 0.16)^2) + (2,500 / (1 + 0.16)^3)= $1,076.34Project B:NPV= (−$19,000 / (1 + 0.16)^0) + (11,000 / (1 + 0.16)^1) + (7,500 / (1 + 0.16)^2) + (6,500 / (1 + 0.16)^3)= $2,342.90b-2.
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Penno Corporation recorded service revenues of $400,000 in 2025, of which $340,000 were on credit and $60,000 were for Mof the 534000 2200 also past 150,000 cash for 2020 wages its employees also earned another $30,000 in wages for 2020, wh were yer peld a year Sal Compute the company's net income for 20000$ (b) How much net cash info (outflod did the company generator 20000$
The company's net income for the year is $220,000. The net cash inflow generated by the company for the year is $60,000.
To calculate the company's net income, we need to consider the service revenues, wages, and other expenses:
Service revenues on credit: $340,000
Service revenues received in cash: $60,000
Total service revenues: $400,000
Wages earned by employees: $30,000
Other expenses: $150,000
Net income = Total revenues - Total expenses
Net income = ($340,000 + $60,000) - ($30,000 + $150,000)
Net income = $400,000 - $180,000
Net income = $220,000
Therefore, the company's net income for the year 20000$ is $220,000.
To calculate the net cash inflow generated by the company, we need to consider the cash received and any cash outflows:
Cash received from service revenues: $60,000
Net cash inflow = Cash received - Cash outflows
Net cash inflow = $60,000 - $0 (no specified cash outflows)
Net cash inflow = $60,000
Therefore, the net cash inflow generated by the company for the year 20000$ is $60,000.
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Stacy’s Dress Shop received a $1,010 invoice dated July 30 with 4/10, 3/15, n/60 terms. On August 13, Stacy’s sent a $264 partial payment. (If more than one discount, assume date of last discount.)
a. What credit should Stacy’s receive? (Round your answer to the nearest cent.)
b. What is Stacy’s outstanding balance? (Round your answer to the nearest cent.)
a. Stacy's should receive a credit of $7.92.
b. Stacy's outstanding balance is $753.92.
To calculate Stacy's credit and outstanding balance, we need to consider the terms of the invoice and the partial payment made.
a. Calculation of Credit:
The terms "4/10, 3/15, n/60" indicate that a 4% discount can be taken if payment is made within 10 days, a 3% discount can be taken if payment is made within 15 days, and the full amount is due within 60 days.
Since Stacy's made a partial payment of $264 on August 13, we need to determine if any discount is applicable based on the payment date.
The payment was made 14 days after the invoice date (August 13 - July 30 = 14 days), which falls within the 15-day discount period. Therefore, Stacy's is eligible for a 3% discount.
Credit = Partial Payment Amount * Discount Percentage
Credit = $264 * 0.03
Credit = $7.92 (rounded to the nearest cent)
Therefore, Stacy's should receive a credit of $7.92.
b. Calculation of Outstanding Balance:
To determine the outstanding balance, we subtract the credit from the invoice amount and the partial payment.
Outstanding Balance = Invoice Amount - Partial Payment + Credit
Outstanding Balance = $1,010 - $264 + $7.92
Outstanding Balance = $753.92 (rounded to the nearest cent)
Therefore, Stacy's outstanding balance is $753.92.
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What annual rate of return is implied on a $2300 loan taken next year when $5400 must be repaid in year 11?
a.)12.25%
b.)13.48%
c.)8.91%
d.)8.07%
The annual rate of return that is implied on a $2300 loan taken next year when $5400 must be repaid in year 11 is 13.48%Option B is the correct answer.
The formula for calculating implied rate of return is:[tex]IRR = (FV / PV) ^ (1 / n) - 1[/tex]
A loan with an annual rate is one whose interest rate is determined annually. In the case of a 100% annual interest rate, the borrower will be charged interest that is equal to the principal amount of the loan. In other words, over the course of a year, the borrower would have to pay back double what they borrowed.
It's crucial to remember that a 100% annual interest rate is extremely high and frequently linked to predatory lending practises. These rates are frequently regarded as usurious and might be prohibited in many areas.
Where FV is the future value, PV is the present value, and n is the number of periods.
Using the formula:IRR = [tex]($5400 / $2300) ^ (1/11) - 1IRR[/tex] = 13.48%
Therefore, the annual rate of return that is implied on a $2300 loan taken next year when $5400 must be repaid in year 11 is 13.48%Option B is the correct answer.
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Use a risk-free rate of 2% and a market return of 6% for the next 3 questions 1. What will be the required return for a stock with a beta of 1.8? a. 12.80% b. 10.80% C. 9.20% d. 8.40%
Using a risk-free rate of 2% and a market return of 6% then the required return for a stock with a beta of 1.8 would be 9.20%.
To calculate the required return, we can use the Capital Asset Pricing Model (CAPM), which states that the required return of a stock is equal to the risk-free rate plus the product of the stock's beta and the market risk premium.
Given the risk-free rate of 2% and the market return of 6%, we can calculate the market risk premium as the difference between the market return and the risk-free rate, which is 6% - 2% = 4%.
Now, using the formula:
Required Return = Risk-Free Rate + (Beta * Market Risk Premium), we can substitute the values and calculate the required return:
Required Return = 2% + (1.8 * 4%) = 2% + 7.2% = 9.2%.
Therefore, the required return for a stock with a beta of 1.8 is 9.2%. The correct option is c) 9.20%.
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The procedural document developed by the EEOC is the:
Uniform Guidelines on Employee Selection Procedures.
Uniform Commercial and Personnel Code.
Affirmative Action Guide.
Business Code of Ethics.
Miranda Regulatory Code.
The Equal Employment Opportunity Commission (EEOC) is a federal agency tasked with enforcing laws that prohibit workplace discrimination. The agency has developed several procedural documents, but the primary one that deals with employee selection procedures is the Uniform Guidelines on Employee Selection Procedures (UGESP).
The UGESP was created in 1978 and provides guidelines for employers to ensure their selection procedures do not discriminate against protected groups based on race, sex, age, religion, national origin, or disability. The document covers different aspects of selection procedures, including job analysis, minimum qualifications, selection criteria, test development and validation, and record-keeping procedures. UGESP is a procedural document that guides employers in designing, implementing, and monitoring their selection procedures to ensure they are fair, objective, and job-related. Employers that follow UGESP can reduce their exposure to discrimination claims and demonstrate their commitment to diversity, equity, and inclusion in their hiring processes. Overall, UGESP is a vital resource for employers, HR professionals, and legal practitioners who work in the field of employment law.
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In this country, corporate bonds typically pay coupon payments twice a year. But this may work differently in other countries! For example, there may be a German company with corporate bonds with a €1,000 par value, 10 years until the maturity of the bonds, and a 6.8 percent coupon rate. The bonds pay coupons annually. These German bonds have a 7.9 percent yield to maturity. Given the above information, the current value of each bond is €___________ (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)
The current value of each bond is approximately €775.18. To calculate the current value of the German bonds, we can use the present value of a bond formula.
The formula is as follows:Current Value of Bond = (Coupon Payment / (1 + Yield to Maturity)^1) + (Coupon Payment / (1 + Yield to Maturity)^2) + ... + (Coupon Payment + Par Value / (1 + Yield to Maturity)^n)
Where:
Coupon Payment is the annual coupon payment
Yield to Maturity is the annual yield to maturity
n is the number of years until maturity
Given the information:
Coupon Payment = €1,000 * 6.8% = €68
Yield to Maturity = 7.9%
n = 10
Substituting these values into the formula:
Current Value of Bond = (€68 / (1 + 7.9%)^1) + (€68 / (1 + 7.9%)^2) + ... + (€68 + €1,000 / (1 + 7.9%)^10)
Performing the calculations:
Current Value of Bond = €68 / (1 + 7.9%) + €68 / (1 + 7.9%)^2 + ... + €68 + €1,000 / (1 + 7.9%)^10
Current Value of Bond ≈ €68 / 1.079 + €68 / 1.079^2 + ... + €68 + €1,000 / 1.079^10
Current Value of Bond ≈ €63.07 + €58.60 + ... + €7.99 + €448.18
Current Value of Bond ≈ €775.18
Therefore, the current value of each bond is approximately €775.18.
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Taxpayer, a cash basis individual, is a principal shareholder and a Vice President of Corp. A. During the year, the events listed below occur. 1. The Board of Directors of Corp. A votes on December 27 of the current year to pay an immediate salary bonus to each of the company's corporate officers. The checks are written on December 28 and each eligible officer is immediately notified that he/she may stop by the Corp. A Treasurer's office to pick up the bonus check. Taxpayer, who is present on December 28, waits until January 4 of the next year to pick up her check
The salary bonus received by the taxpayer on January 4 of the following year will be taxable income for the year it was received, regardless of when the checks were written or when the taxpayer picked up the check.
As a cash basis taxpayer, income is generally recognized when it is received, rather than when it is earned or accrued. In this case, the taxpayer received the salary bonus on January 4 of the following year. Therefore, the bonus amount will be included in the taxpayer's taxable income for that year.
The timing of when the checks were written or when the taxpayer was notified does not affect the taxability of the bonus. Even though the checks were written on December 28 of the current year and the taxpayer was notified on the same day, the bonus was not received by the taxpayer until January 4 of the following year. Consequently, it will be taxable in that subsequent year.
It's important to note that the salary bonus is subject to employment taxes, such as Social Security and Medicare taxes, which may be withheld by Corp. A at the time of payment. The specific tax implications and withholding requirements should be determined based on the relevant tax laws and regulations applicable to the taxpayer's jurisdiction.
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Explain how the political environment in the United States
impacts the rise of both secessionist movements and domestic
terrorism. Provide examples.
The political environment in the United States impacts the rise of both secessionist movements and domestic terrorism in many ways. One of the most significant factors is the polarization between political parties and the lack of compromise, which can lead to dissatisfaction and frustration among some groups.
Secessionist movements are often driven by the belief that their state or region is not being represented fairly at the national level. They feel that their interests are not being adequately addressed and that they would be better off as an independent entity. This feeling is often fueled by the political climate, where one side may feel that they are losing ground or are being oppressed.
In recent years, there has been a rise in secessionist movements, such as the movement for California to become its own country or for Texas to secede from the United States. These movements are often driven by the belief that their state is being oppressed or not adequately represented at the national level.
Similarly, domestic terrorism is often driven by political and social grievances. This can include issues such as gun control, immigration policy, and other controversial topics. Groups that feel marginalized or oppressed may turn to violence to make their voices heard or to get revenge for what they see as injustices.
Some examples of domestic terrorism in recent years include the mass shootings in Las Vegas, Orlando, and Parkland. These incidents were all carried out by individuals with extremist beliefs who wanted to make a statement or cause harm to those they saw as their enemies.
Overall, the political environment in the United States has a significant impact on the rise of both secessionist movements and domestic terrorism. When one side feels that they are losing ground or being oppressed, they may turn to extreme measures to make their voices heard. This can lead to violence and unrest, which can further polarize the political environment and make it even more difficult to find common ground.
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On 01/01 (beginning of the year), a company had 2,000 units of inventory with a $4 cost per unit. During the year the company purchased a total of 8,300 units, as follows: • on 03/09: 4,000 units at $7.30 cost per unit on 07/12: 3,000 units at $8.50 cost per unit on 11/22: 1,300 units at $10.40 cost per unit During the year, the company sold a total of 6,700 units, as follows: on 04/18: 3,200 units for $11.50 selling price per unit on 09/03: 2,500 units for $10.75 selling price per unit on 12/29: 1,000 units for $12.40 selling price per unit Assume a periodic inventory system & weighted-average costing. What is the total cost of ending inventory (Dec 31)?
To calculate the total cost of ending inventory using the weighted-average costing method, we need to determine the weighted average cost per unit.
Beginning Inventory:
2,000 units x $4 = $8,000
Purchases:
4,000 units x $7.30 = $29,200
3,000 units x $8.50 = $25,500
1,300 units x $10.40 = $13,520
Total Units Purchased = 4,000 + 3,000 + 1,300 = 8,300
Total Cost of Purchases = $29,200 + $25,500 + $13,520 = $68,220
Total Units Available for Sale = Beginning Inventory + Total Units Purchased = 2,000 + 8,300 = 10,300
Weighted Average Cost per Unit = Total Cost of Purchases / Total Units Available for Sale
= $68,220 / 10,300 = $6.63 (rounded to two decimal places)
To calculate the total cost of ending inventory:
Ending Inventory = (Units on Hand at Dec 31) x (Weighted Average Cost per Unit)
= (10,300 - 6,700) x $6.63
= 3,600 x $6.63
= $23,868
Therefore, the total cost of ending inventory on December 31 is $23,868.
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Adjusted present value (APV) and DCF-WACC are two alternative methods to value a company or a business unit. Which of the following is most accurate? In the adjusted present value (APV) method, the tax shield is computed and discounted separately. Adjusted present value method is most appropriate when there is stable capital structure. The discounted cash flow method combines both free cash flow to equity and the tax shield and discounts the combined cash flow by the unlevered cost of capital. Adjusted present value (APV) and the discounted cash flow (DCF) methods are always equivalent.
The most accurate statement among the options provided is: In the adjusted present value (APV) method, the tax shield is computed and discounted separately.
In the APV method, the value of a company or business unit is determined by calculating the present value of cash flows considering the tax shield separately from the operating cash flows. The tax shield represents the tax savings resulting from the deductibility of interest expenses on debt.
The other options are not accurate:
- The statement that the APV method is most appropriate when there is a stable capital structure is not universally true. The APV method can be used in various situations, including those with changing capital structures.
- The discounted cash flow (DCF) method combines the free cash flow to equity and the tax shield, but it discounts the combined cash flow by the weighted average cost of capital (WACC), not the unlevered cost of capital.
- The statement that the APV and DCF methods are always equivalent is not correct. While both methods are used to value companies or business units, they employ different approaches and assumptions, leading to potentially different results. The choice between APV and DCF depends on factors such as the availability and reliability of data, the nature of the cash flows, and the specific characteristics of the business being valued.
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You forecast a company's dividends for the next four years. In Year 1 , you expect to receive $1.00 in dividends. In Year 2 , you expect to receive $1.50 in dividends. In Year 3 , you expect to receive $2.00 in dividends. In Year 4 , you expect to receive $2.50. After Year 4 , dividends are expected to grow at 3%. The rate of return for similar risk common stock is 12%. What is the current value of this company's stock? What is the dividend yield for the company in Question 2? The current price of Wampa Inc. stock is $100. Dividends are expected to grow at 4% indefinitely and the most recent dividend was $4. What is the required rate of return on Wampa Inc. stock?
The current value of the company's stock is $35.0114, calculated using the Dividend Discount Model (DDM). The dividend yield for the company is 7%. The required rate of return on Wampa Inc. stock is 8%, based on the Gordon Growth Model (GGM) and the company's dividend growth rate.
The current value of the company's stock can be calculated using the dividend discount model (DDM).
The DDM formula is:
Current Stock Value = Sum of Present Value of Dividends + Present Value of Terminal Value
To calculate the present value of dividends, we discount each dividend by the rate of return. The present value of the terminal value is calculated by dividing the next expected dividend by the difference between the rate of return and the growth rate.
Using the given information, the present value of dividends can be calculated as follows:
Year 1: $1.00 / (1 + 0.12)^1 = $0.8929Year 2: $1.50 / (1 + 0.12)^2 = $1.1887Year 3: $2.00 / (1 + 0.12)^3 = $1.5951Year 4: $2.50 / (1 + 0.12)^4 = $1.9229To calculate the present value of the terminal value, we use the formula:
Present Value of Terminal Value = (Dividend in Year 5) / (Required Rate of Return - Dividend Growth Rate)
Year 5: $2.50 * (1 + 0.03) / (0.12 - 0.03) = $29.4118Adding up the present values of dividends and the present value of the terminal value, we get:
Current Stock Value = $0.8929 + $1.1887 + $1.5951 + $1.9229 + $29.4118 = $35.0114
Therefore, the current value of this company's stock is $35.0114.
The dividend yield is calculated by dividing the annual dividend per share by the current stock price.
Dividend Yield = (Annual Dividend per Share) / (Current Stock Price)
In this case, the annual dividend per share is the sum of the expected dividends for the next four years:
Annual Dividend per Share = $1.00 + $1.50 + $2.00 + $2.50 = $7.00
Dividend Yield = $7.00 / $100 = 0.07 or 7%
Therefore, the dividend yield for the company is 7%.
To calculate the required rate of return on Wampa Inc. stock, we can use the Gordon Growth Model (GGM), also known as the dividend discount model (DDM). The GGM formula is:
Current Stock Price = Dividend / (Required Rate of Return - Dividend Growth Rate)
In this case, the most recent dividend is $4 and the dividend is expected to grow at 4% indefinitely. We need to find the required rate of return.
Rearranging the formula, we get:
Required Rate of Return = Dividend / Current Stock Price + Dividend Growth Rate
Substituting the values, we have:
Required Rate of Return = $4 / $100 + 0.04 = 0.04 + 0.04 = 0.08 or 8%
Therefore, the required rate of return on Wampa Inc. stock is 8%.
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Describe the impact (i.e., financial or other) on the business
including, but not limited to. any civil or criminal penalties by
KBR and Halliburton FCPA (2009).
The KBR and Halliburton FCPA case in 2009 had significant financial and legal consequences for both companies.
The KBR and Halliburton case in 2009 refers to a violation of the Foreign Corrupt Practices Act (FCPA) by these two companies. The FCPA prohibits bribing foreign officials to obtain or retain business. In this case, it was revealed that KBR, a subsidiary of Halliburton, had engaged in bribery schemes to secure contracts in Nigeria.
The impact on the businesses was substantial. KBR pleaded guilty to violating the FCPA and had to pay a hefty fine of $402 million. Halliburton, as the parent company, faced financial and reputational damage as well.
Besides the financial penalties, the case had other consequences such as a tarnished public image, loss of business opportunities, and the need for internal reforms to prevent future violations. The KBR and Halliburton FCPA case serves as a cautionary tale for companies operating globally, highlighting the serious legal and financial repercussions of engaging in corrupt practices.
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Oriole inc. issued $1,920,000 of convertible 10 -year bonds on July 1,2020 . The bonds provide for 12% interest payable semiannually on January 1 and July 1 . The discount in connection with the issue was $49,200, which is being amortized monthly on a straight-line basis. The bonds are convertible after one year into 8 shares of Oriole inc's $100 par value common stock for each $1,000 of bonds. On August 1,2021. $192.000 of bonds were turned in for conversion into common stock. Interest has been accrued monthly and paid as due. At the time of conversion, any accrued interest on bonds being converted is paid in cash. Prepare the journal entries to record the conversion, amortization, and interest in connection with the bond was of the following dates. (Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) (a) August 1, 2021. (Assume the book value method is used.) (b) August 31,2021. (c) Decernber 31, 2021, including closing entries for end-of-year. Aug. 1, 2021 Interest Payable Cash (To record payment in cash of interest accrued on bonds.) Aug. (b) 31. 2021 Interest Experse 369 Discount on Bonds Payable (To record amortization of discount on bonds.) Aug. 31, Interest Expense 369 2021 Interest Payable 19,200 (To record accrual of interest on bonds.) Dec. (c) 31 . income Summary 2021 Interest Expense (To close expense account) Oriole Inc issued $1,920.000 of convertible 10 -year bonds on July 1,2020 . The bonds provide for 12% interest payable semiannually on January 1 and July 1 . The discount in connection with the issue was $49.200, which is being amortized monthly on a straight-line basis. The bonds are convertible after one year into 8 shares of Oriole incis $100 par value common stock for each $1,000 of bonds. On August 1.2021.\$192,000 of bonds were turned in for conversion into common stock. Interest has been accrued monthly yand paid as due. At the time of conversion, any accrued interest on bonds being corverted is paid in cash. Prepare the journat entries to record the corversion, amortization, and interest in connection with the bonds as of the following dates. (Credit occount tites are cutomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the emounts) (a) August 1.2021. (Assume the book value method is used) (b) August 31,2021. (c) December 31,2021, induding closing entries for end-of-year. No. Date fccount Titles and Explanation (a) Aug. 1. Dends Porable 2021 Bacount on Boeds Payable (To record the lissuance of shares of comrnon stock and the wille-off of the discount on bonds poyable. (To record perment in cach of interest accued on boeds.) a) Aul. \begin{tabular}{|} \hline \\ \hline & 4397 \\ \hline & 153600 \\ \hline & \\ \hline \end{tabular} (6) 21 a (So mucrid anatuation of decount ca bonds.) (To record amortizstion of dickount ion bonds.) (To record acmual of interest on bonds? (To dowe expense accourt)
(a) August 1, 2021:
Date Account Titles Debit Credit
Aug. 1, 2021 Bonds Payable $192,000
Aug. 1, 2021 Discount on Bonds Payable $7,200
Aug. 1, 2021 Common Stock $1,536,000
Aug. 1, 2021 Additional Paid-in Capital - Convertible Bonds $48,000
Explanation:
Bonds with a face value of $192,000 are converted into common stock. This decreases the Bonds Payable and Discount on Bonds Payable accounts.
Common Stock is increased by the value of the converted bonds, which is $1,536,000 ($192,000 x 8).
The excess of the par value of the common stock over the bonds' carrying value is recorded in the Additional Paid-in Capital - Convertible Bonds account. In this case, it is $48,000 ($1,536,000 - $1,920,000).
(b) August 31, 2021:
Date Account Titles Debit Credit
Aug. 31, 2021 Interest Expense $369
Aug. 31, 2021 Discount on Bonds Payable $369
Explanation:
The monthly amortization of the discount on bonds is recorded as an expense in the Interest Expense account.
The Discount on Bonds Payable account is reduced by the same amount.
(c) December 31, 2021 (including closing entries):
Date Account Titles Debit Credit
Dec. 31, 2021 Income Summary $369
Dec. 31, 2021 Interest Expense $369
Dec. 31, 2021 Retained Earnings $369
Explanation:
The Interest Expense account is closed to the Income Summary account.
The Income Summary account is closed to Retained Earnings, which reflects the net effect of the interest expense on the company's retained earnings.
Please note that the interest payable on the bonds is not mentioned in the provided information, so it is not included in the journal entries.
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Lizzy is very fond of bushwalking. Lizzy decided to visit the Lane Cove National Park, over the Queen’s Birthday long weekend.
Lizzy drove to the National Park and as she approached the ticket booth she saw a sign next to the booth that read "Enter at your own risk. No guarantees". She drove up to the booth where park ranger Wickham was selling weekend passes into the park. Wickham tells Lizzy that it costs $40 to enter the park and camp for the weekend.
Lizzy exclaimed that this was quite expensive, she said she didn’t want to pay that much money unless she was guaranteed to see some of the famous flora and fauna that the park boasted. Wickham informed Lizzy that the famous flora was blooming in the South West part of the park and that if she was lucky she would see wallabies, koalas and platypuses at dawn or dusk. In light of this Lizzy decides to pay the $40 and enter the park.
Wickham hands Lizzy a sticker telling her that she has to place the sticker on the windscreen so that all the park rangers would identify her car as having paid to enter the park.
Lizzy drove to the South West part of the park and spent the entire weekend searching for the flora and fauna. She went to the exact place Wickham had mentioned and could find nothing. She was terribly disappointed. She returned to home and discovered that Wickham had lied to her. It was not the right time of year for the famous flora and there haven’t been any wallabies, koalas or platypus since the big bushfires five years ago. But she did see one galah when she entered the park!
Lizzy was furious and so she wrote a letter of complaint and demanded a refund.
The management of the park wrote back to her informing her that she had no cause of action as the sticker she received upon paying $40 to enter the park contained a clause stating "The Lane Cove National Park management is not liable for any negligent actions committed by its employees". Lizzy looked at the sticker and noticed the clause for the first time. She is furious and wants to take legal action.
Who should Lizzy bring a legal action against and for what?
What legal rights would she be relying on?
What remedy/remedies would she seek?
What would the defendant argue?
Who do you think will win and why?
Lizzy should bring a legal action against the Lane Cove National Park management for breach of contract. She would be relying on the fact that she entered into a contract with the park management when she paid the $40 to enter the park. The contract included an implied term that the park management would take reasonable care to ensure that she would be able to see the flora and fauna that she was promised.
Lizzy would be seeking damages for the disappointment and inconvenience that she suffered as a result of the park management's breach of contract. The amount of damages would be based on the cost of her weekend trip to the park, as well as the emotional distress that she suffered.
The park management would likely argue that the disclaimer on the sticker absolved them of any liability for the actions of their employees. However, this disclaimer would not be enforceable if it was found to be unconscionable. In this case, it is likely that the disclaimer would be found to be unconscionable because it would allow the park management to profit from Lizzy's reliance on their promises, while at the same time exposing her to the risk of disappointment.
I think that Lizzy would win her case. The park management's breach of contract was clear and the damages that she suffered were significant. The disclaimer on the sticker was likely to be found to be unconscionable.
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Which ONE of the following statements IS true about debt finance?
a. For the lender, the only return on a deep discount bond is the capital gain, as no interest is charged.
b. Issuing debt dilutes the control exercised by existing shareholders.
c. Taxation increases the cost of debt finance for the issuing company.
d. Lenders generally require a lower return on their investment compared to shareholders.
d. Lenders generally require a lower return on their investment compared to shareholders.
The statement that is true about debt finance is option d. Lenders generally require a lower return on their investment compared to shareholders.
When a company borrows funds through debt finance, it typically enters into a contractual agreement with lenders, such as banks or bondholders. These lenders provide the company with the necessary funds in exchange for the promise of repayment with interest. Compared to shareholders who invest in the company's equity, lenders generally have a lower risk profile and priority of claim in case of bankruptcy. As a result, lenders usually expect a lower return on their investment, which is primarily in the form of interest payments.
a. This statement is incorrect. A deep discount bond still pays periodic interest, although it is issued at a price below its face value. The return for the lender includes both the capital gain upon maturity and the periodic interest payments.
b. This statement is not directly related to debt finance. Issuing debt does not necessarily dilute the control exercised by existing shareholders. Dilution of control is more relevant in the context of equity financing.
c. This statement is incorrect. Taxation does not directly increase the cost of debt finance for the issuing company. Interest payments made on debt are typically tax-deductible, which reduces the after-tax cost of debt.
Among the given options, the true statement about debt finance is that lenders generally require a lower return on their investment compared to shareholders. Lenders expect repayment with interest, while shareholders expect returns through dividends and capital appreciation.
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explain the steps that you would take, using your own figures relating to income to spend and prices of inputs, to draw the diagram of how to determine the best combination of two inputs for a producer who produces one product in the long run. then draw the diagram
To determine the best combination of two inputs for a producer in the long run, we can use the isoquant and isocost analysis. This analysis helps in identifying the input combination that minimizes the cost of production for a given level of output.
Step 1: Determine the production function: Start by identifying the production function, which represents the relationship between inputs (usually capital and labor) and output. For simplicity, let's assume a linear production function: Q = aK + bL, where Q is the quantity of output, K is the quantity of capital, L is the quantity of labor, and a and b are the respective coefficients.
Step 2: Plot the isoquant: An isoquant represents all the combinations of inputs that can produce a specific level of output. Choose a level of output and plot the isoquant on a graph by varying the quantities of capital (K) and labor (L) while keeping the output constant.
Step 3: Determine the isocost line: The isocost line represents the combinations of inputs that have the same total cost. Calculate the total cost for different input combinations based on the prices of inputs. Let's assume the price of capital (PK) and the price of labor (PL) are given. The total cost (TC) can be calculated as TC = PK * K + PL * L. Plot the isocost line on the same graph by varying the quantities of capital and labor while keeping the total cost constant.
Step 4: Find the optimal input combination: The optimal input combination is where the isoquant is tangent to the isocost line. This point represents the minimum-cost combination of inputs for producing a given level of output. At this point, the slope of the isoquant is equal to the slope of the isocost line.
Step 5: Repeat for different levels of output: Repeat the above steps for different levels of output to obtain multiple isoquants and isocost lines. This allows for analyzing the optimal input combinations at different production levels.
Drawing the diagram:
you can easily create the diagram by plotting the isoquants and isocost lines on a graph. Place the quantities of capital (K) on the x-axis, quantities of labor (L) on the y-axis, and label the isoquants and isocost lines accordingly. The point of tangency between the isoquant and the isocost line represents the optimal input combination.
Remember to label the axes, provide legends for the isoquant and isocost lines, and indicate the optimal input combination point on the graph.
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true/false. Residual income is the operating income that an investment centre earns above the minimum required return on its operating assets.
Residual income is the operating income that exceeds the minimum required return on operating assets, rather than being the operating income earned above the minimum required return, so it is False
False. Residual income, also known as economic profit or economic value added (EVA), is a financial performance measure that evaluates the profitability of an investment center by considering the cost of capital. It is the operating income that an investment center earns minus the minimum required return on its operating assets.
Residual income represents the excess income generated by an investment center beyond what is necessary to cover the cost of capital. The minimum required return is typically determined by the organization's cost of capital, which reflects the return required by investors or shareholders for bearing the risk of investing in the business.
By deducting the minimum required return from the operating income, residual income provides a more comprehensive assessment of an investment center's performance. If the residual income is positive, it indicates that the center is generating value above the cost of capital and contributing to the overall profitability of the organization. Conversely, a negative residual income suggests that the investment center is not meeting the minimum return expectations.
In summary, residual income is the operating income that exceeds the minimum required return on operating assets, rather than being the operating income earned above the minimum required return.
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On the first day of the fiscal year, a company issues a $1,200,000, 10%, 4-year bond that pays semiannual interest of $60,000 ($1,200,000 x 10 % x 1/2), receiving cash of $1,323,732. Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Interest Expense 123,732 X 123,732 X Premium on Bonds Payable ✓ 15,467 ✓ Cash -✓ 60,000 Feedback ✓ Check My Work Bonds Payable is always recorded at face value. Any difference in issue price is reflected in a premium or discount account. The straight-line method of amortization provides equal amounts of amortization over the life of the bond.
The journal entries for the first interest payment and amortization of the bond premium would be as follows:
Interest Expense: $60,000
Premium on Bonds Payable: $15,467
Cash: $60,000
To journalize the first interest payment and the amortization of the related bond premium, we need to consider the information provided.
The semiannual interest payment on the bond is $60,000, which is calculated as $1,200,000 (bond face value) multiplied by 10% (interest rate) and divided by 2 (since the bond pays semiannual interest).
The bond was issued at a premium, with the company receiving cash of $1,323,732, which is higher than the bond face value. The difference between the face value and the cash received represents the bond premium.
The first journal entry would be to record the interest expense of $60,000, which represents the payment of semiannual interest on the bond. This amount is debited to Interest Expense.
The second journal entry would be to amortize the bond premium. The premium is amortized using the straight-line method, which provides equal amounts of amortization over the life of the bond. In this case, the amortization amount would be $15,467. This amount is debited to Premium on Bonds Payable.
Lastly, the cash payment of $60,000 is credited to Cash as it represents the actual cash outflow for the interest payment.
These journal entries reflect the interest payment and the amortization of the bond premium for the specified period. It's important to note that these entries are specific to this particular transaction and may vary based on the terms of the bond and accounting practices of the company.
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Bellingham Company produced 5,300 units that require five standard pounds per unit at a $9 standard price per pound. The company actually used 26,000 pounds in production. Journalize the entry to record the standard direct materials used in production. If an amount box does not require an entry, leave it blank.
The Materials Quantity Variance is credited for zero since the actual quantity production used matches the standard quantity expected.
we need to calculate the standard direct materials cost and the actual direct materials cost. Given information:
Standard pounds per unit: 5 pounds
Standard price per pound: $9
Actual pounds used: 26,000 pounds
Standard direct materials cost = Standard pounds per unit * Standard price per pound
Actual direct materials cost = Actual pounds used * Standard price per pound
Actual direct materials cost = 26,000 pounds * $9 = $234,000
To record the standard direct materials used in production, the journal entry would be:
Date: [Date of transaction]
Work in Process Inventory $234,000
Materials Price Variance $2,650 ([$45 - $9] * 5,300 units)
Materials Quantity Variance $0 ([$5 * (5,300 - 26,000/5)] * $9)
The entry debits Work in Process Inventory for the actual direct materials cost of $234,000. The Materials Price Variance is credited for the difference between the standard price and actual price per pound multiplied by the actual pounds used.
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many people believe that religion is necessary in order for
Many people believe that religion is necessary in order for people to have morals or ethics. There is no definite answer as to whether or not religion is essential for an individual's ethical conduct. Some people believe that an individual's moral system is rooted in their religious values and beliefs.
Others believe that one does not require religion to possess ethics or morality. Some people find their morals through their religious scriptures, teachings, or principles. For them, religion plays a vital role in shaping their ethical system.
Religious individuals believe that following their religious teachings and guidelines will help them attain a better afterlife in the next world. They feel accountable to their deity for their moral actions and sins and follow a moral code in line with their religion.
Other people believe that a person can have good morals without any religious beliefs. Such individuals can be guided by their personal beliefs, empathy, or simply their understanding of right and wrong.
They feel accountable to themselves and society at large for their actions and try to do what's right. They may be influenced by secular morality systems, like humanism or deontology. They believe that people can be moral without religious beliefs and that religion is not a prerequisite for morality.
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How do changes in requirements cause cost escalation?
When requirements change, it usually results in a higher cost for the project, which is known as cost escalation. The reasons for this are listed as follows: 1. Additional expenses. 2. Delays in Project. 3. Revisions. 4. Effect on existing equipment.
The reasons for this are mentioned below:
1. Additional expenses: When requirements change, new features are added, requiring more money to be spent on materials, design, development, and other areas.
2. Delays in Project: Changes in requirements might result in delays in project completion, which can cause cost escalation. The longer the project takes, the more money is spent on personnel, equipment, and other resources.
3. Revisions: Changes in requirements may necessitate the use of more expensive equipment or materials, or a revision of existing designs, resulting in cost escalation. In addition, revisions to the project plan or technical requirements might add to project expenses.
4. Effect on existing equipment: If the project's changes affect existing equipment or processes, they may need to be reconfigured or replaced, resulting in additional costs. For example, if the project calls for a new software system that is incompatible with existing hardware, the hardware must be replaced, resulting in cost escalation.
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The following financial information was summarized from the accounting records of Bright Way Corporation for the current year ended December Tool Division Total Operating Expenses $ 20,800 Cost of Goods Sold 50,200 Net Sales Revenue 135,000
The gross profit for the Division is: o $185,200 o $84,800 o $64.000 o $74,800
The gross profit for the Tool Division of Bright Way Corporation for the current year is B. $84,800. To calculate the gross profit, we subtract the cost of goods sold (COGS) from the net sales revenue.
In this case, the net sales revenue is given as $135,000, and the cost of goods sold is given as $50,200.
Gross Profit = Net Sales Revenue - Cost of Goods Sold
Gross Profit = $135,000 - $50,200
Gross Profit = $84,800
Therefore, the gross profit for the Tool Division of Bright Way Corporation for the current year is $84,800.
Gross profit represents the amount of revenue that remains after deducting the direct costs associated with producing or acquiring the goods being sold. It provides a measure of the profitability of the company's core operations. In this case, the gross profit of $84,800 indicates the amount of profit generated by the Tool Division of Bright Way Corporation, considering the cost of goods sold and net sales revenue for the current year.
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Sara Michaels and Tommy Tooks marry on December 31. Sara earned $400,000 for the year, and Tommy earned $100,000. If Sara and Tommy had waited until the beginning of the following year to marry they would have realized a significant tax savings. Each filing as single taxpayers will result in less total tax than filing jointly.
2. Assume Sara earned $95,000 and Tommy earned $5,000 because he attended school most of the year and they marry at the beginning of the next year. There would be a significant tax savings in marrying at the end of the first year and filing jointly over each filing as single taxpayers.
3. Sara and Tommy decide to file as married filing separately. Sara has $14,000 in itemized deductions and Tommy has $10,000 in itemized deductions. Since Sara itemized on her return Tommy is required to itemize. They may be better off to have both take the standard deduction since the total standard deductions would be $25,900 while itemizing only results in a $24,000 total deduction"
Marrying at the end of the first year and filing jointly would lead to significant tax savings.
Would Sara and Tommy save more in taxes by filing separately as single taxpayers instead of filing jointly if Sara earned $400,000 and Tommy earned $100,000 for the year?In the given scenarios, the tax implications for Sara Michaels and Tommy Tooks are being analyzed. Let's go through each scenario and understand the tax savings or consequences involved.
Sara earned $400,000 for the year, and Tommy earned $100,000. If they had waited until the beginning of the following year to marry, they would have realized a significant tax savings. Each filing as single taxpayers will result in less total tax than filing jointly.
When Sara and Tommy file as single taxpayers, they will each be subject to the tax brackets applicable to single filers. Filing jointly would combine their incomes, potentially pushing them into a higher tax bracket and resulting in a higher tax liability. By delaying their marriage until the following year, they can continue to file as single taxpayers and avoid the higher tax burden associated with filing jointly.
Sara earned $95,000, and Tommy earned $5,000 because he attended school most of the year, and they marry at the beginning of the next year. There would be a significant tax savings in marrying at the end of the first year and filing jointly over each filing as single taxpayers.
In this scenario, Sara's income is significantly higher than Tommy's. By getting married at the end of the first year and filing jointly, their combined income would fall within lower tax brackets compared to Sara filing as a single taxpayer.
Filing jointly would allow them to take advantage of the lower tax rates applicable to their combined income, resulting in tax savings.
Sara and Tommy decide to file as married filing separately. Sara has $14,000 in itemized deductions, and Tommy has $10,000 in itemized deductions.
Since Sara itemized on her return, Tommy is required to itemize. They may be better off having both take the standard deduction since the total standard deductions would be $25,900, while itemizing only results in a $24,000 total deduction.
When married taxpayers choose to file separately, both spouses must either itemize their deductions or take the standard deduction. In this scenario, Sara has $14,000 in itemized deductions, and Tommy has $10,000 in itemized deductions.
However, if they both take the standard deduction, which is typically the easier and more straightforward option, they can claim a combined total of $25,900 as the standard deduction. This is higher than their total itemized deductions, which amounts to $24,000. Therefore, it would be more beneficial for them to take the standard deduction rather than itemize, as it would result in a higher deduction and potentially lower tax liability.
It's important to note that tax laws and regulations can vary over time and may be subject to change. The given explanations are based on general tax principles, and it's advisable to consult a tax professional or accountant for specific tax advice tailored to individual circumstances.
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Which of the following is your highest priority action for ensuring overall safety during medication administration?
1. Have another nurse check the dose you will give
2. Teach the patient about possible adverse effects
3. Identify the patient by two acceptable methods
4. Confirm that the patient can swallow adequately
Out of the four options given, identifying the patient by two acceptable methods is the highest priority action for ensuring overall safety during medication administration.
What is medication administration? Medication administration is a vital part of the nursing process. Nurses' responsibility in medication administration includes verifying medication orders, ensuring safe medication administration, and assessing the patient's response to the medication. This process is designed to avoid medication errors and patient injury. The priority action for ensuring overall safety during medication administration is to identify the patient by two acceptable methods before providing any medication.
Identifying the patient by two acceptable methods helps to ensure the correct medication is administered to the right patient. These methods may include asking the patient to state their name, date of birth, or providing a wristband with the patient's name and date of birth. The other options, such as having another nurse check the dose you will give, teaching the patient about possible adverse effects, or confirming that the patient can swallow adequately, are
all important but not the highest priority for ensuring overall safety during medication administration.
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A firm has $300,000 in cash, $1,100,000 in other assets and $0 in debt. Its net income for the year is $100,000 and its current shares outstanding is 250,000 . A firm wants to return $150,000 to shareholders. What is the firm's earnings per share if management decides to repurchase stock? Multiple Choice .40 5.60 .45 0
To calculate the earnings per share (EPS) after repurchasing stock, we need to determine the new number of shares outstanding. New shares outstanding = 0, Since the new number of shares outstanding is 0, the firm's earnings per share would be undefined or 0 (zero).
Current shares outstanding: 250,000
Amount to be returned to shareholders: $150,000
If the firm decides to repurchase stock worth $150,000, we need to divide this amount by the repurchase price per share to determine the number of shares repurchased:
Repurchase price per share = Amount to be returned to shareholders / Current shares outstanding
Repurchase price per share = $150,000 / 250,000
Repurchase price per share = $0.60
Now, we need to subtract the number of repurchased shares from the current shares outstanding to find the new number of shares outstanding:
New shares outstanding = Current shares outstanding - Number of repurchased shares
New shares outstanding = 250,000 - ($150,000 / $0.60)
New shares outstanding = 250,000 - 250,000
New shares outstanding = 0
Since the new number of shares outstanding is 0, the firm's earnings per share would be undefined or 0 (zero).
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I believe I’ve mentioned in class that one of my hobbies is acquiring, painting, and
playing board games. The majority of these games, though hardly mass market on the level
of Monopoly and its ilk, are sold on Amazon and have a fairly wide audience. A small
portion of my games, however, have much smaller print runs and are essentially only sold
through GMT Games’s (the publisher) website. GMT Games focuses on historical games and
simulations and, while I have a hard time finding others to play them with me, publish some
of my favorite titles. These titles, however, are often priced at least twice as much as other
games that have wider distribution. Using our tools, explain this state of affairs.
The state of affairs where GMT Games’ s historical games and simulations have much smaller print runs and are priced at least twice as much as other games that have wider distribution is best explained by the economic principle of supply and demand.
Supply and demand is a basic economic principle that explains how the price and quantity of a good or service are determined in a market. According to this principle, the price of a product is determined by the intersection of the demand curve and the supply curve.
In the case of GMT Games’s historical games and simulations, the supply is limited due to the smaller print runs and the niche audience for historical games. The demand for these games is also limited, as they appeal to a specific group of gamers who have an interest in history and simulations.
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Timpanogos Incorporated is an accrual-method, calendar-year corporation. For 2021, it reported financial statement income after taxes of $1,449,360. Timpanogos provided the following information relating to its 2021 activities:
Life insurance proceeds as a result of CEO’s death$ 216,000Revenue from sales (for both book and tax purposes)2,160,000Premiums paid on the key-person life insurance policies. The policies have no cash surrender value.22,680Qualified charitable contributions194,400Cost of goods sold for book and tax purposes324,000Interest income on tax-exempt bonds43,200Interest paid on loan obtained to purchase tax-exempt bonds48,600Rental income payments received and earned in 202116,200Rental income payments received in 2020 but earned in 202110,800Rental income payments received in 2021 but not earned by year-end32,400Tax depreciation59,400Book Depreciation27,000Net capital loss45,360Federal income tax expense for books in 2021
334,800
Complete Schedule M-1 for Timpanogos. #4 and #10
Compute Timpanogos Incorporated’s tax liability for 2021.
Schedule M-1: Reconciliation of Income (Loss) per Books With Income per Return1. Net income (loss) per books$1,449,3602. Federal income tax per books334,8003. Excess of capital losses over capital gains45,3604. Income subject to tax not recorded on books this year (itemize):Rental income5. Expenses recorded on books this year not deducted on this return (itemize):a. Depreciation0b. Charitable contributions0c. Travel and entertainmentInterest paid to obtain tax-exempt bonds48,600Life insurance premiums22,6806. Total1,900,8017. Income recorded on books this year not included on this return (itemize):Tax-exempt interest$43,200Life insurance proceeds from CEO’s death216,0008. Deductions on this return not charged against book income this year (itemize):a. Depreciation32,400b. Charitable contributionsSection 263A costs9. Total$291,60010. Income$
Total Tax Liability _________?
Timpanogos Incorporated's tax liability for 2021 is $242,709.60.
To compute Timpanogos Incorporated's tax liability for 2021, we need to complete Schedule M-1, which reconciles the income (loss) per books with the income per tax return. Based on the provided information, here is the completed Schedule M-1:
Schedule M-1: Reconciliation of Income (Loss) per Books With Income per Return
Net income (loss) per books: $1,449,360
Federal income tax per books: $334,800
Excess of capital losses over capital gains: $45,360
Income subject to tax not recorded on books this year:
Rental income: $16,200
Expenses recorded on books this year not deducted on this return:
a. Depreciation: $0
b. Charitable contributions: $0
c. Travel and entertainment: $0
Interest paid to obtain tax-exempt bonds: $48,600
Life insurance premiums: $22,680
Total: $71,280
Total (add lines 4 and 5): $87,480
Income recorded on books this year not included on this return:
Tax-exempt interest: $43,200
Life insurance proceeds from CEO's death: $216,000
Total: $259,200
Deductions on this return not charged against book income this year:
a. Depreciation: $32,400
b. Charitable contributions: Section 263A costs
Total: $32,400
Total (add lines 7 and 8): $291,600
Income (subtract line 9 from line 6): $1,155,760
Now, to compute Timpanogos Incorporated's tax liability, we need to calculate the tax based on the income calculated in line 10. The tax liability will depend on the applicable tax rate for the corporation. Let's assume a tax rate of 21%:
Tax liability = Income * Tax rate
Tax liability = $1,155,760 * 21%
Tax liability = $242,709.60
Therefore, Timpanogos Incorporated's tax liability for 2021 is $242,709.60.
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A student is asked to give a definition of fixed and current assets and give examples of each. They write: "Fixed assets are items owned by a company that contribute to its productive capacity. e.g. equipment such as computers or machine tools used in the company's operation. Current assets are items bought and sold in the course of the company's normal operations. e.g. products for sale to customers or consumables such as printer paper." Which one of the following is true about this student's answer? The student's answer is incorrect because the items described would not be considered assets The student's answer is partially correct but small value items like printer paper would not be considered as an asset The student's answer is incorrect; as only the money held by a company is considered as an asset O The student's answer is correct The student's answer is incorrect because the definitions of fixed and current assets are the opposite to those given by the student
The statement given by the student is on the following current assets is correct. Thus, The student's answer is correct.
According to the given statement, a student is asked to define fixed and current assets and provide examples of each. The student then writes: "Fixed assets are items owned by a company that contribute to its productive capacity.
Equipment such as computers or machine tools used in the company's operation. Current assets are items bought and sold in the course of the company's normal operations. e.g. products for sale to customers or consumables such as printer paper."
The student's answer is correct because this is an accurate definition of both fixed and current assets, and the examples given for each type are appropriate.
Fixed Assets:Fixed assets are long-term and physical assets that are owned by the company and used for producing income. Buildings, machinery, equipment, and vehicles are all examples of fixed assets.
They are not expected to be sold or consumed in the short term, but rather are used to generate income for an extended period. Current Assets: Current assets are assets that can be converted into cash within a year or a business cycle.
Accounts receivable, inventory, and cash on hand are examples of current assets. As the student has mentioned, printer paper is also considered a current asset because it is a consumable product that is expected to be sold quickly and can be converted to cash quickly if necessary. Thus, The student's answer is correct.
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Describe the basic communication model including where the
initial message may be changed or distorted. What steps can be
taken to prevent communication failures?
The basic communication model consists of a sender who encodes a message and transmits it through a chosen channel to a receiver who decodes the message.
However, during the communication process, the initial message can be changed or distorted due to various factors. To prevent communication failures, steps such as using clear and concise language, active listening, feedback, choosing appropriate communication channels, and verifying understanding can be taken.The basic communication model involves a sender who formulates a message and encodes it into a suitable format. The message is then transmitted through a chosen communication channel, such as verbal, written, or electronic means. The receiver receives the message and decodes it to understand the intended meaning.
To prevent communication failures, several steps can be taken. First, using clear and concise language helps ensure that the message is accurately transmitted and understood. Active listening is crucial, as it allows the receiver to fully comprehend the message and provide appropriate feedback. Feedback, in the form of questions or summaries, helps clarify any uncertainties or misconceptions.
Overall, by being mindful of potential distortions and taking proactive steps to promote effective communication, individuals can minimize the chances of communication failures and enhance the overall quality of communication exchanges.
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A firm has issued bonds that will repay $116 with certainty one year from today. Yesterday, you purchased one at the market price of $99. Today, the yield on these bonds is 16%. By how much, in dollars, has the value of your bond changed overnight?
Given information:Bond repayment amount = $116Purchase price of bond = $99The yield on bonds = 16%One can calculate the current value of bond at 16% yield as follows:
$$\text{PV}= \frac{\text{Bond payment amount}}{(1+\text{yield})}
$$$$\text{PV} = \frac{\$116}{1+0.16}
= \$100$$
Therefore, the current value of the bond is $100.
It is given that the bond was purchased yesterday for $99. So, the value of the bond has increased by $1 overnight. Answer: The value of the bond has increased by $1 overnight.
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