1) The value of the bond at the issue date can be calculated using the present value formula.
Since the bond has a stated interest rate of 4% and pays interest semi-annually, the bond's value can be calculated as follows:
PV = (C / (1 + r/2)ⁿ) + (C / (1 + r/2)⁽ⁿ⁻¹⁾) + ... + (C / (1 + r/2)²) + (C / (1 + r/2)) + (F / (1 + r/2)ⁿ)
Where:
PV = Present value of the bond
C = Coupon payment (interest payment per period)
r = Effective interest rate per period
n = Number of periods
In this case, C = $3,000 * 4% / 2 = $60 (since the coupon payment is semi-annual)
r = 5% / 2 = 2.5% (since the effective interest rate is semi-annual)
n = 5 years * 2 = 10 (since the bond pays interest semi-annually over 5 years)
Plugging in these values, we can calculate the present value of the bond at the issue date.
2) At each interest payment date, the cash is increased by the amount of the coupon payment. In this case, since the coupon payment is $60 and there are two interest payment dates per year, the cash will be increased by $60 * 2 = $120.
Learn more about bond here:
https://brainly.com/question/31994049
#SPJ11
On October 31, 2024. Affleck Company's general ledger shows a cash account balance of $8,406. The company's cash receipts for the month total $74,380, of which $71,310 has been deposited in the bank. In addition, the company has written checks for $72,476, of which $71,036 has been processed by the bank. The bank statement reveals an ending balance of $11,946 and includes the following items not yet recorded by Affleck: bank service fees of $180, note recelvable collected by the bank of $5,300, and interest earned on the note of $470. After closer inspection, Affleck realizes that the bank incorrectly charged the company's account $420 for an automatic withdrawal that should have been charged to another customer's account. The bank agrees to the error. Required: 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on October 31,2024. 2. Record the necessary entries to adjust the balance for cash. Journal entry worksheet Record the amounts that increase cash. Note: Enter debits before credits.
organizations and their managers have many more constituent groups to be concerned with than just stockholders. stakeholders are those people whose interests are potentially affected by an organization’s activities, and they may be internal or external to the firm. this activity is important because it is critical for managers to be aware of who their stakeholders are. the goal of this activity is to challenge your ability to identify where specific stakeholder groups fit into the organization’s environment. select the most appropriate stakeholder category for each component of the organization’s environment.
According to the information, the most appropriate category of stakeholders for each component of the organization's environment could be, for example:
Employees: Human ResourcesMarketing: ClientsShareholders: Board of DirectorsSuppliers: Purchasing ManagementGovernment: ComplianceCSR: Public RelationsHow important are stakeholders to the company?They are the stakeholders in each area of the organization, and are essential to the company's success, as they are responsible for promoting the company's long-term growth, value and market positioning.
Therefore, it is essential for the company to be attentive to its stakeholders at each stage of its processes, recognizing their needs and expectations in order to create a favorable reputation in the market in long-term.
Find out more about stakeholder at:
https://brainly.com/question/15532995
#SPJ4
What is a disadvantage to using online recruiting to generate responses to openings?
A disadvantage of using online recruiting is the potential for a large influx of unqualified or irrelevant applications, requiring additional time and resources to sort through and identify qualified candidates.
One disadvantage of using online recruiting to generate responses to job openings is the potential for a large volume of unqualified or irrelevant applications. Online platforms make it easy for job seekers to apply with just a few clicks, leading to an influx of applications that may not meet the necessary qualifications or match the requirements of the position.
Sorting through a high volume of resumes can be time-consuming and may result in a significant amount of effort spent on reviewing applications that are not suitable for the role.
This can be a challenge for recruiters and HR professionals, who need to allocate additional time and resources to identify qualified candidates among the large pool of applicants.
To know more about online recruiting:
https://brainly.com/question/33623788
#SPJ4
GetItNow Inc. is considering investing in a new project that would use drones to
deliver products on very short notice. They have just concluded a one-year study, at a cost of $1 million,
to assess the feasibility of the technology and the market-readiness for this premium service. The project
is expected to generate revenues of $30 million per year over the next 4 years (starting in Year 1).
The type of drones that are required are quite sophisticated and require a large amount of customization
to accommodate the heavy payload and durability requirements. Because of these custom requirements,
the drones themselves must be manufactured in one production run and so all the drones will be
purchased immediately at a total cost of $24 million. They are expected to have a 4-year life with no resale
value at the end of their lives. This capital investment can be depreciated straight line, over 4 years,
starting in Year 1.
GetItNow is already a successful delivery service with an in-house inventory management, scheduling and
tracking system that can easily accommodate the drone project without impacting current business.
Thus, they do not foresee any additional expenditures on this system. The system is state of the art and
new. It was purchased in the last year for $10 million and costs $1 million a year to maintain.
As part of renewing their license to operate within California, GetItNow is required to conduct periodic
environmental impact studies. Their current license expires in 4 years, but to get regulatory permission
to launch the drone service now, GetItNow agreed to conduct the next environmental review early so the
additional impact of the drone service can be assessed. (Conducting the next review early will not impact
the timing for future reviews.) Consequently the next environmental review will take place the year after
the drone service is introduced. That is, if the project is undertaken, the next review will take place in Year
2 instead of Year 4. The review costs $2 million to complete, treated as an operating expense.
The costs associated with operating the drones are expected to be 40% of revenues. In addition,
executives believe that a specialized sales force and advertising campaign would be needed to sell the
service. The cost of the sales team and marketing will be $4 million per year.
As a delivery service business, inventory requirements are zero. Because most customers pay at the time
of delivery, accounts receivable will average only 2% of annual sales. Accounts payable are expected to
average 10% of annual operating and sales costs. The company expects these accounts will be fully
resolved one year after the conclusion of the project. The corporate tax rate is 40%. The riskiness of the
project matches the riskiness of the firm. The firm has a beta of 1.2, and the current risk-free interest rate
is 2%. The market risk premium is 5%.
Part A (10 points): Calculate the Incremental Revenue, EBIT, and Unlevered Net Income of the
project and fill them in the boxes below.
The incremental revenue for each year of the project is $30 million. The EBIT is calculated by subtracting the operating expenses from the incremental revenue. The unlevered net income is calculated by multiplying the EBIT by (1 - tax rate). These calculations are essential to assess the financial performance of the project.
To calculate the incremental revenue, EBIT, and unlevered net income of the project, we need to consider the various costs and revenues associated with the project.
1. Incremental Revenue:
The project is expected to generate revenues of $30 million per year over the next 4 years, starting in Year 1. Therefore, the incremental revenue for each year would be $30 million.
2. EBIT (Earnings Before Interest and Taxes):
To calculate EBIT, we need to subtract the operating expenses from the incremental revenue. The operating expenses include the cost of operating the drones (40% of revenues) and the cost of the sales team and marketing ($4 million per year).
Let's calculate EBIT for each year:
Year 1:
Incremental Revenue = $30 million
Operating Expenses = (40% of $30 million) + $4 million
EBIT = Incremental Revenue - Operating Expenses
Years 2-4:
Since there are no changes in the costs and revenues mentioned in the question, the EBIT for these years will be the same as Year 1.
3. Unlevered Net Income:
Unlevered Net Income is the EBIT minus taxes. The corporate tax rate is mentioned as 40%. Therefore, we need to multiply the EBIT by (1 - tax rate) to get the unlevered net income.
Let's calculate the unlevered net income for each year:
Year 1:
Unlevered Net Income = EBIT * (1 - tax rate)
Years 2-4:
Since the tax rate and EBIT remain the same for these years, the unlevered net income will also remain the same.
The incremental revenue for each year of the project is $30 million.
The EBIT for each year, including Year 1 and Years 2-4, is calculated by subtracting the operating expenses from the incremental revenue.
The unlevered net income for each year, including Year 1 and Years 2-4, is calculated by multiplying the EBIT by (1 - tax rate).
The incremental revenue represents the additional revenue generated by the project compared to the current revenue of the company. It is calculated based on the projected revenue for each year of the project.
The EBIT is a measure of the profitability of the project before considering interest and taxes. It is calculated by subtracting the operating expenses from the incremental revenue.
The unlevered net income is the profitability of the project after considering taxes. It is calculated by multiplying the EBIT by (1 - tax rate).
Learn more about net income: https://brainly.com/question/32614743
#SPJ11
You have a $2 million portfolio consisting of a $100,000 investment in each of 20 different stocks. The portfolio has a beta of 1.1. You are considering selling $100,000 worth of one stock with a beta of 0.9 and using the proceeds to purchase another stock with a beta of 1.4. What will the portfolio's new beta be after these transactions?
Beta of a Portfolio:
An investor creates a portfolio to maximize the returns and diversify the risk. A portfolio is created by investing the total funds in several stocks in a certain proportion. Each stock has its own beta. The beta of a portfolio is the weighted sum of beta of all the stocks.
The beta of a portfolio after selling $100,000 worth of one stock with a beta of 0.9 and using the proceeds to purchase another stock with a beta of 1.4 is 1.16.
Given, Portfolio value = $2 million
Number of stocks = 20
Investment in each stock = $100,000
Total investment = $100,000 x 20 = $2 million
The portfolio has a beta of 1.1.
A beta of 1 indicates that the security's price will move with the market. A beta of less than 1 means that the security will be less volatile than the market, while a beta greater than 1 indicates that the security's price will be more volatile than the market.
An investment of $100,000 in a stock with a beta of 0.9 is to be sold. The proceeds will be used to purchase another stock with a beta of 1.4.
The new investment in the portfolio with a beta of 1.4 can be calculated as follows:
New investment = $100,000 / Beta of new stock = $100,000 / 1.4 = $71,429
The total investment in the portfolio will remain the same after the sale of one stock and purchase of another stock.
Total investment = $2 million
New investment = $71,429
Total investment = $2,000,000 – $100,000 + $71,429 = $1,971,429
The new beta of the portfolio is calculated as follows:
Existing beta of the portfolio = 1.1
New beta of the portfolio = [(Number of shares of old stock * Beta of old stock) + (Number of shares of new stock * Beta of new stock)] / Total investment
Shares of old stock = $100,000 / Price of old stock
Beta of old stock = 0.9
Shares of new stock = $71,429 / Price of new stock
Beta of new stock = 1.4
Total investment = $1,971,429
New beta of the portfolio = [($100,000 / Price of old stock) x 0.9 + ($71,429 / Price of new stock) x 1.4] / $1,971,429
We are not given the price of old and new stocks, but since the number of shares of each stock is the same, we can cancel them out as follows
[($100,000 x 0.9) + ($71,429 x 1.4)] / $1,971,429
= (90,000 + 99,999.60) / $1,971,429
= 1.16
Hence, the new beta of the portfolio is 1.16.
Learn more about Portfolio value: https://brainly.com/question/33068696
#SPJ11
Orient Airlines' common stock currently sells for $31, and its 10-year maturity convertible bond with 8.5% coupon rate paid semi-annually has a yield to maturity of 12%. Each bond can be converted into 25 shares of common stock at any time before five years from now. Assuming its stock price is expected to grow at 2% every year, show with calculations whether bondholders of this convertible bond more likely to convert the bond into common stock today? Show your calculations to support your answers to eam full points ( 5 points).
The value of the stock is approximately $34.83. Comparing the values: Value of Convertible Bond = $845.16 Value of Stock = $34.83
To determine whether bondholders of the convertible bond are more likely to convert the bond into common stock today, we need to compare the value of the bond with the value of the converted stock.
Let's calculate the value of the convertible bond and the value of the stock:
Value of the Convertible Bond:
To calculate the value of the convertible bond, we can use the present value of future cash flows, considering the semi-annual coupon payments and the maturity value.
Coupon Rate = 8.5% (semi-annual)
Yield to Maturity = 12% (annual)
Maturity = 10 years (20 semi-annual periods)
Par Value = $1,000
The coupon payments can be calculated using the coupon rate and the par value:
Coupon Payment = Coupon Rate * Par Value / 2
Coupon Payment = 8.5% * $1,000 / 2
Coupon Payment = $42.50
The present value of the coupon payments can be calculated using the yield to maturity:
PV of Coupon Payments = ∑ (Coupon Payment / (1 + Yield to Maturity/2)^n), for n = 1 to 20
PV of Coupon Payments = $42.50 * [(1 - (1 + 12%/2)^(-20)) / (12%/2)]
PV of Coupon Payments ≈ $612.45
The present value of the maturity value can be calculated as:
PV of Maturity Value = $1,000 / (1 + Yield to Maturity/2)^20
PV of Maturity Value ≈ $232.71
Therefore, the value of the convertible bond is the sum of the present value of the coupon payments and the present value of the maturity value:
Value of Convertible Bond = PV of Coupon Payments + PV of Maturity Value
Value of Convertible Bond ≈ $612.45 + $232.71
Value of Convertible Bond ≈ $845.16
Value of the Stock:
To calculate the value of the stock, we can use the discounted cash flow (DCF) method, assuming the stock price is expected to grow at a rate of 2% annually.
Current Stock Price = $31
Growth Rate = 2% (annual)
The value of the stock can be calculated as:
Value of Stock = Future Stock Price / (1 + Discount Rate)^n, where n is the number of years until conversion
Since bondholders can convert the bond into stock at any time before five years from now, we'll consider the conversion after the minimum of five years:
Value of Stock = Future Stock Price / (1 + Discount Rate)^5
Future Stock Price = Current Stock Price * (1 + Growth Rate)^5
Future Stock Price = $31 * (1 + 2%)^5
Future Stock Price ≈ $34.83
Learn more about Bond here:
https://brainly.com/question/32529079
#SPJ11
Explain with 100 word about an appreciation and depreciation of
US currency factors that could cause AD and AS to shift and explain
whether they shift to the right or left.
The US currency's appreciation and depreciation have a significant effect on the economy. The exchange rate affects the nation's net exports, which influences aggregate demand and supply (AD and AS).
Appreciation or a decrease in the value of the US dollar means that foreign goods will become cheaper for American consumers, resulting in a rise in aggregate demand (AD) because more people will buy imported goods.AS will shift to the left when AD increases, as the economy is running beyond capacity.
When AS shifts to the left, prices increase, and the economy slows down. In contrast, depreciation or an increase in the value of the US dollar would cause imported goods to become more expensive, which would result in a decrease in AD. The AS would shift to the right when AD decreases because the economy is running at less than full capacity. When AS shifts to the right, prices drop, and the economy is stimulated.
To know more about appreciation , visit:
https://brainly.com/question/3023490
#SPJ11
your journal how does the habit of creating a budgetâ€â€and sticking to itâ€â€reflect financial maturity and responsibility?
Creating a budget and sticking to it reflects financial maturity and responsibility by promoting disciplined financial management and informed decision-making.
How does creating a budget promote disciplined financial management?Creating a budget requires careful consideration of income, expenses, and financial goals. It involves tracking and categorizing expenses, identifying areas of overspending, and setting realistic financial targets. By adhering to a budget, individuals develop discipline in their spending habits, making conscious choices about where their money goes. This fosters responsible financial behavior by ensuring that spending aligns with financial priorities and goals.
Additionally, budgeting facilitates informed decision-making. It provides a clear overview of income and expenses, allowing individuals to evaluate their financial health and make adjustments as needed. Budgeting also helps identify opportunities for savings and investments, enabling individuals to build an emergency fund, pay off debt, or pursue long-term financial objectives.
Learn more about financial maturity
brainly.com/question/33447370
#SPJ11
Hui is currently considering investing in municipal bonds that earn 6 percent interest, or in taxable bonds issued by the Coca-Cola Company that pay 8 percent. Required: a. If Hui's tax rate is 22 percent, which bond should he choose? b. Which bond should he choose if his tax rate is 32 percent? c. At what tax rate would he be indifferent between the bonds? d. What strategy is this decision based upon? Complete this question by entering your answers in the tabs below. If Hui's tax rate is 22 percent, which bond should he choose? Daniel is considering selling two stocks that have not fared well over recent years. A friend recently informed Daniel that one of his stocks has a special designation, which allows him to treat a loss up to $50,000 on this stock as an ordinary loss rather than the typical capital loss. Daniel figures that he has a loss of $60,000 on each stock. If Daniel's marginal tax rate is 35 percent and he has $120,000 of other capital gains (taxed at 15 percent), what is the tax savings from the special tax treatment?
a. To determine which bond Hui should choose if his tax rate is 22 percent, we need to compare the after-tax returns of the municipal bond and the taxable bond.
Municipal bond:
Interest rate = 6%
Tax rate = 22%
After-tax return = (1 - Tax rate) * Interest rate = (1 - 0.22) * 0.06 = 0.078 or 7.8%
Taxable bond:
Interest rate = 8%
Tax rate = 22%
After-tax return = (1 - Tax rate) * Interest rate = (1 - 0.22) * 0.08 = 0.0624 or 6.24%
Comparing the after-tax returns, the municipal bond has an after-tax return of 7.8% while the taxable bond has an after-tax return of 6.24%. Therefore, if Hui's tax rate is 22 percent, he should choose the municipal bond.
b. If Hui's tax rate is 32 percent, we can repeat the same calculation to compare the after-tax returns of the municipal bond and the taxable bond.
Municipal bond:
Interest rate = 6%
Tax rate = 32%
After-tax return = (1 - Tax rate) * Interest rate = (1 - 0.32) * 0.06 = 0.0408 or 4.08%
Taxable bond: Interest rate = 8%
Tax rate = 32%After-tax return = (1 - Tax rate) * Interest rate = (1 - 0.32) * 0.08 = 0.0544 or 5.44%
Comparing the after-tax returns, the municipal bond has an after-tax return of 4.08% while the taxable bond has an after-tax return of 5.44%. Therefore, if Hui's tax rate is 32 percent, he should choose the taxable bond.
c. To determine the tax rate at which Hui would be indifferent between the bonds, we need to set the after-tax returns of the municipal bond and the taxable bond equal to each other and solve for the tax rate.
(1 - Tax rate) * 0.06 = (1 - Tax rate) * 0.08
0.06 - Tax rate * 0.06 = 0.08 - Tax rate * 0.08
0.06 - 0.06 * Tax rate = 0.08 - 0.08 * Tax rate
0.06 = 0.08 - 0.02 * Tax rate
0.02 * Tax rate = 0.08 - 0.06
0.02 * Tax rate = 0.02
Tax rate = 0.02 / 0.02
Tax rate = 1 or 100%
Therefore, Hui would be indifferent between the bonds when his tax rate is 100%.
d. This decision is based on the trade-off between the higher interest rate of the taxable bond and the tax advantages of the municipal bond. Hui needs to compare the after-tax returns of the two bonds to determine which one provides a higher return after accounting for taxes.
To learn more about municipal : click here
https://brainly.com/question/12167430?
#SPJ11
Assume you are a restaurant manager facing a potential price increase for orange juice. What options are available to you do deal with this problem?
As a restaurant manager facing a potential price increase for orange juice, there are several options available to deal with this problem. Here are some possible solutions:
1. Negotiate with suppliers: Reach out to your orange juice suppliers and try to negotiate a better price or discuss alternative options. Sometimes, suppliers are willing to offer discounts or bulk purchasing options.
2. Adjust menu prices: If the cost of orange juice increases significantly, consider adjusting the prices of the dishes or drinks that include orange juice. This will help offset the increased cost and maintain profitability.
3. Source alternative suppliers: Look for alternative suppliers or brands that offer orange juice at a more affordable price. This can be done through market research or seeking recommendations from other restaurant managers.
4. Reduce portion sizes: Another option is to reduce the portion size of dishes or drinks that contain orange juice. By doing this, you can use less orange juice per serving, thus reducing costs without compromising quality.
5. Find substitutes: Explore the possibility of substituting orange juice with other citrus fruits or juices that are more cost-effective. This can help maintain a similar flavor profile while mitigating the impact of a price increase.
6. Market and promote other menu items: If the price increase is significant and unavoidable, focus on marketing and promoting other menu items that are not affected by the price increase.
To know more about possible visit:
https://brainly.com/question/1229264
#SPJ11
The supply schedule shows the specific quantity of a good that suppliers are willing and able to?
The supply schedule shows the specific quantity of a good that suppliers are willing and able to supply at each price. It is a table that lists the quantity supplied for a good or service that suppliers throughout the whole economy are willing and able to supply at all possible prices.
The supply schedule is a graphical representation of the law of supply. The law of supply states that, all other factors being equal, as the price of a good or service increases, the quantity of goods or services that suppliers offer will increase, and vice versa.
The supply schedule is important because it helps us to understand how the price of a good or service affects the quantity supplied. It also helps us to understand how the supply of a good or service affects the market price.
To know more about the law of supply:
https://brainly.com/question/33438816
#SPJ4
Current market prices reflect all information contained in past price movements. this statement is consistent with?
The statement "Current market prices reflect all information contained in past price movements" is consistent with the Efficient Market Hypothesis (EMH).
According to EMH, financial markets are efficient, meaning that prices quickly and accurately incorporate all available information. This implies that it is not possible to consistently outperform the market through stock picking or timing strategies based solely on historical price patterns. The EMH has three forms: weak, semi-strong, and strong.
The statement aligns with the semi-strong form, suggesting that not only past price movements but also all publicly available information, such as news and financial statements, are already reflected in current market prices. Investors, therefore, cannot consistently achieve above-average returns by analyzing such information as it is already priced in.
Learn more about Efficient Market Hypothesis at
brainly.com/question/32821596
#SPJ4
required: 1a. what is the amount of equity at the beginning of the year for company a? 1b. what is the amount of equity at the end of the year for company a? 1c. what is the amount of liabilities at the end of the year for company a?
As indicated by the bookkeeping condition: Value = Resources - liabilities
Start of the year value = $55,000 - $24,500 = $30,500
Year's end value = starting value + net gain + stock issuances - cash profits
$30,500 - 8,500 + 6000 - 3,500 = $24,500
Finishing liabilities = finishing resources - finishing value
$58,000 - 24,500 = $33,500
Learn more about equity, from:
brainly.com/question/33585348
#SPJ4
Your question is incomplete, probably the complete question is attached below-
You are the sales department manager for a U.S.-based company that builds engines for the automotive manufacturing industry. Your company is considering diversifying into other business opportunities where your motors can be sold in order to bolster the company’s portfolio and increase revenue. Based on your knowledge of the national sales landscape, your manager would like you to conduct preliminary research and prepare a presentation with your recommendation for an opportunity in a new industry that will allow for this diversification through a new sales division and increased sales. You have been asked to make your presentation at the next stakeholder meeting, where you will address internal stakeholders from across the company as well as external stakeholders such as customers, investors, and suppliers.
As a preliminary step in developing this presentation, your manager would like to see an executive summary of your research findings and evaluate your decision modeling.
Q1: Select the new industry that you think would be a good fit for your company.
Discuss why your company should consider diversifying into your selected industry. Your response should be about 3–4 sentences in length. Be sure to answer the following questions: Prior to doing your research and analysis, what are your thoughts about how your company could expand to take on this new industry? What questions do you have regarding where to get the information and data required for the projects? Do you think this industry will have adequate data available for your research and data collection?
Reaching out to industry experts, attending conferences, and engaging with potential customers can help gather further information and insights.
Based on my initial assessment, I believe the aerospace industry would be a good fit for our company's diversification efforts. The aerospace industry is closely related to the automotive industry, as both require advanced engineering and manufacturing capabilities. By entering the aerospace industry, we can leverage our expertise in building engines and expand our customer base to include aircraft manufacturers. This would not only increase our revenue but also provide opportunities for innovation and technological advancements.
Prior to conducting research, I am curious about the market potential in the aerospace industry and how our company's capabilities align with the industry's requirements. I would also like to know more about the competition and potential barriers to entry in this new market. In terms of data and information, I believe there should be adequate resources available, such as industry reports, market studies, and government databases, that can provide valuable insights for our research and analysis. Additionally, reaching out to industry experts, attending conferences, and engaging with potential customers can help gather further information and insights.
To learn more about information
https://brainly.com/question/31807690
#SPJ11
Present values of alternative projects of different lengths of time cannot be compared directly because a. the net benefits must be analyzed carefully in the more distant future b. the discounted net benefits in more distant years will be smaller, all else equal c. the net benefits can be compared directly. The premise of this question is incorrect. d. If a project lasting for fewer years can be repeated, its present value will be underestimated using standard analysis Conflicted on C or D answer since they seem to be able to be compared but not directly.
If both projects can be repeated, repeating one or both projects until a common time frame is reached will correct for the problem of differing project lengths.
The correct answer to the question is b. the discounted net benefits in more distant years will be smaller, all else equal. This is because of the concept of Time value of money (TVM).
Explanation: Time Value of Money (TVM)Time value of money (TVM) is the concept that indicates that money available at the present moment is worth more than an equal amount of money in the future, because of its capability to earn interest. It is the idea that the value of money in the present time is worth more than the same value of money in the future, because of its capability to earn interest. This is because interest-bearing assets are worth more in the present than in the future.
The present value of two projects with different lifetimes cannot be compared directly. This is because the present value of the future cash flows that each project creates must first be calculated and then compared. Due to time value of money, the discounted net benefits of projects that are far away in the future will be smaller. The standard way of evaluating investment opportunities is to calculate the present value of their cash inflows and outflows, which are then discounted at the required rate of return.
To know more about benefits visit :-
https://brainly.com/question/30267476
#SPJ11
Classify each of the following items as a final good or service or an intermediate good or service and identify which is a component of consumption expenditure, investment, or government expenditure on goods and services: - Banking services bought by a student. - New cars bought by Hertz, the car rental firm. - Newsprint bought by USA Today. - The purchase of a new limo for the president. - New house bought by Al Gore. 2. The firm that printed this textbook bought the paper from XYZ Paper Mills. Was this purchase of paper part of GDP? If not, how does the value of the paper get counted in GDP?
The classification of goods and services as final goods or services or intermediate goods or services is given below: Banks services bought by a student - Intermediate service.
New cars bought by Hertz, the car rental firm - Final good.
Newsprint bought by USA Today - Intermediate good.
The purchase of a new limo for the president - Final good.
New house bought by Al Gore - Final good Component of consumption expenditure, investment, or government expenditure on goods and services of each of the following items are given below: Banking services bought by a student - Consumption expenditure.
New cars bought by Hertz, the car rental firm - Investment expenditure.
Newsprint bought by USA Today - Consumption expenditure.
The purchase of a new limo for the president - Government expenditure on goods and services.
New house bought by Al Gore - Investment expenditure.
The purchase of paper from XYZ Paper Mills by the firm that printed this textbook is not part of GDP. The value of the paper is counted in the GDP as the value of the final goods that use the paper such as books, newspapers, etc. The value of the paper is included in the price of the final goods.
To know more about Investment visit:
https://brainly.com/question/15105766
#SPJ11
Ed and Marta are paid $2.410 affer taxes every manth. Monthly expenses include $777 on housing and ualities, $395 for auto laarw, $164 on food, and an average of $713 an clohing and other variable expenses. Assuming that they save excess funds, calculate and interpeet their savings ratio. Hint. Prepare an income stitement, and then compute the rato The amount of Ed and Marta's income available for savings and investment is 3 (Round to the rearost dolare) Ed and Marta's saving rato is 4. (Round to two decirnal places.) Interprot their savings ratio. (Select the best choice below.) A. The ratio tells Ed and Marta that approximately 14,98\% of their cross inceme is avalable for savings aher expenses are peid. B. The ratio tells Ed and Marta that approximately 6.68% of their income is available for savings after expenses are paid. C. The ratio telis Ed and Marta that approximately 14.98\% of their aftertax income is avallable for savings after expenses are paid
The best choice from the given options is:
C. The ratio tells Ed and Marta that approximately 14.94% of their after-tax income is available for savings after expenses are paid.
To calculate the savings ratio for Ed and Marta, we need to determine their total income available for savings and compare it to their total income after taxes.
Total income available for savings:
Monthly income after taxes = $2,410
Monthly expenses = $777 (housing and utilities) + $395 (auto loan) + $164 (food) + $713 (clothing and other variable expenses) = $2,049
Income available for savings = Monthly income after taxes - Monthly expenses = $2,410 - $2,049 = $361
Total income after taxes:
Monthly income after taxes = $2,410
Savings ratio:
Savings ratio = (Income available for savings / Total income after taxes) * 100
Savings ratio = ($361 / $2,410) * 100 = 14.94%
Interpretation: The savings ratio of 14.94% indicates that approximately 14.94% of Ed and Marta's after-tax income is available for savings after their expenses are paid.
Learn more about savings ratio here:
https://brainly.com/question/27664856
#SPJ11
Parker Company purchased equipment on January 1, 2024, for $33,000. Suppose Parker Company sold the equipment for $3,000 on December 31, 2025. Accumulated Depreciation as of December 31,2025 , was $18,000. Journalize the sale of the equipment, assuming straight-line depreciation was used. First, calculate any gain or loss on the sale of the equipment. (Enter a loss with a minus sign or parentheses.) Now, journalize the sale of the equipment. (Record debits first, then credits. Select the explanation on the last line of the joumal entry table. Check your spelling carefully and do not abbreviate.)
The company incurred a loss of $12,000 on the sale of the equipment. The journal entry to record the sale is as follows:
The journal entry reflects the decrease in accumulated depreciation by $18,000, the recognition of a loss on the sale of equipment by $12,000, the removal of the equipment from the books, and the receipt of $3,000 in cash from the sale.
To calculate the gain or loss on the sale of equipment, we need to determine the equipment's book value first. Book value is the original cost of the equipment minus its accumulated depreciation.
Book value = Cost of equipment - Accumulated depreciation
Book value = $33,000 - $18,000
Book value = $15,000
Since the equipment was sold for $3,000, we can calculate the gain or loss as follows:
Gain or loss = Selling price - Book value
Gain or loss = $3,000 - $15,000
Gain or loss = -$12,000 (Loss of $12,000)
To journalize the sale of the equipment, we will record the following entry:
Date | Account | Debit | Credit
Dec 31, 2025 | Accumulated Depreciation | - $18,000 |
Dec 31, 2025 | Loss on Sale of Equipment | - $12,000 |
Dec 31, 2025 | Equipment | | $33,000
Dec 31, 2025 | Cash | | $3,000
learn more about accumulated depreciation here:
https://brainly.com/question/28139636
#SPJ11
Fellingham Corporation purchased equipment on January 1, 2019 for 5208.000. The company estimated the equipment would have a useful life of 10 yeats with a $21,200 residual value. Fealingham uses the stralght wne depreciation method. Early in 2021 , Fellngham teassessed the equigesents condition and determined that its total usefil ufe would be only six years in total and that it would have no salvage value. How mweh would Fellingharn report as deprecktion on thks equipinent. for 2021? Muntiele chaice 542650 $28.440 $37,360 $37660.
Fellingham Corporation would report $37,360 as depreciation on this equipment for 2021. So, the correct option is c. $37,360.
Fellingham Corporation purchased equipment on January 1, 2019, for $208,000. The company estimated the equipment would have a useful life of 10 years with a $21,200 residual value. Fellingham uses the straight-line depreciation method.
To calculate the annual depreciation expense, we need to determine the depreciable base, which is the original cost minus the residual value. In this case, the depreciable base is $208,000 - $21,200 = $186,800.
Using the straight-line depreciation method, we divide the depreciable base by the useful life in years to get the annual depreciation expense. The annual depreciation expense is $186,800 / 10 = $18,680.
However, early in 2021, Fellingham reassessed the equipment's condition and determined that its total useful life would be only six years in total and that it would have no salvage value.
To calculate the depreciation expense for 2021, we need to divide the remaining depreciable base by the remaining useful life. The remaining depreciable base is $186,800 - ($18,680 * 2) = $149,440. The remaining useful life is 6 - 2 = 4 years.
Therefore, the depreciation expense for 2021 would be $149,440 / 4 = $37,360.
So, Fellingham would report $37,360 as depreciation on this equipment for 2021.
To know more about depreciation refer here:
https://brainly.com/question/30531944#
#SPJ11
Scenario Analysis (LO2) We are evaluating a project that costs $884,000, has an eight-year life, and has no salvage value. Assume that depreciation is straight: line to zero over the life of the project. Sales are projected at 81.000 units per year. Price per unit is $59, variable cost per unit is $41. and fixed costs are $775,000 per year. The tax rate is 35%, and we require a 10% return on this project. Suppose the projections given for price, quantity, variable costs, and fixed costs are all accurate to within ±10%. Calculate the best-case and worst-case NPV figures. (Omit $ sign in your response. Negative answers should be indicated by a minus sign. Do not round intermediate colculations. Round the final answers to 2 decimal places.)
The best-case NPV figure for the project is $328,464.94, while the worst-case NPV figure is -$158,208.78. The NPV (Net Present Value) is a financial metric used to determine the profitability of an investment by comparing the present value of cash inflows and outflows. In this scenario, we need to calculate the best-case and worst-case NPV figures for the given project.
To calculate the NPV, we first estimate the cash flows for each year by subtracting the variable costs and fixed costs from the sales revenue. We then calculate the tax by multiplying the taxable income (sales revenue minus variable costs and depreciation) by the tax rate. The net cash flow is obtained by subtracting the tax from the cash flows. Finally, we discount the net cash flows using the required rate of return.
In the best-case scenario, we assume that the projections for price, quantity, variable costs, and fixed costs are all favorable, with a positive deviation of 10%. This results in higher sales revenue and lower costs, leading to a positive NPV of $328,464.94.
In the worst-case scenario, we assume that the projections are unfavorable, with a negative deviation of 10%. This results in lower sales revenue and higher costs, leading to a negative NPV of -$158,208.78.
These best-case and worst-case NPV figures provide a range of potential outcomes for the project's profitability. By considering both scenarios, we can assess the project's sensitivity to changes in key variables and make more informed decisions regarding its viability and potential risks.
To learn more about inflows, Click Here: brainly.com/question/33063880
#SPJ11
Consider the following problem of buying insurance. Our consumer has preferences over realized wealth given by u(w)=w
1/3
. The consumer has $100 and suffers a loss of $50 with a 60% probability. Now, the consumer can purchase as much insurance as she would Ike at a cost of $0.50 a piece. For each unit of insurance, the insurance company will pay out $1 in the event that our consumer suffers a loss. What is our consumer's utility maximizing level of insurance purchased? Does the consumer fully eliminate any risk, and is the Insurance company willing to sell this insurance to the consumer?
The consumer's utility-maximizing level of insurance purchased is 50 units.
the consumer's utility function is given by u(w) = w⁽¹³⁾. to determine the consumer's utility-maximizing level of insurance, we need to consider the trade-off between the cost of insurance and the potential payout in the event of a loss.
the consumer starts with $100 and faces a 60% probability of suffering a $50 loss. without purchasing insurance, the consumer's wealth after the loss would be $100 - $50 = $50 with a 60% probability, and $100 with a 40% probability.
let's analyze the utility in each scenario:
1. without insurance:- utility after loss: (50)⁽¹³⁾ * 0.6 = 7.37
- utility without loss: (100)⁽¹³⁾ * 0.4 = 3.17- overall utility: 7.37 + 3.17 = 10.54
2. with one unit of insurance:
- utility after loss: (51)⁽¹³⁾ * 0.6 = 7.45- utility without loss: (100)⁽¹³⁾ * 0.4 = 3.17
- overall utility: 7.45 + 3.17 = 10.62
by purchasing one unit of insurance, the consumer's overall utility increases compared to the scenario without insurance.
to fully eliminate the risk, the consumer would need to purchase enough insurance to ensure that the payout in the event of a loss covers the entire potential loss of $50. in this case, the consumer needs to purchase 50 units of insurance, as each unit provides a payout of $1. regarding whether the insurance company is willing to sell this insurance, we need to consider the cost of insurance to the consumer. each unit of insurance costs $0.50, and the consumer needs to purchase 50 units.
Learn more about purchase here:
https://brainly.com/question/31035675
#SPJ11
A family business, dedicated to the artisan manufacture of wooden ornaments, decides to automate its production process, for which it requires an investment of $45,000.
The shareholders are willing to contribute their own capital of $18,000, and they expect a return of 20% per year. To get the difference, they apply for a state program for the promotion of small industry, which offers a seed capital of $15,000 with a preferential rate of 5% per year. The remaining balance is financed with a bank loan, with an annual rate of 18%.
The mixed TMAR of the project is between:
The mixed TMAR (Total Minimum Acceptable Rate of Return) of the project is approximately 14.471%.
The mixed TMAR (Target Minimum Acceptable Rate of Return) of the project can be calculated by weighting the return expectations from different sources based on their contribution to the project. In this case, the shareholders contribute $18,000 (40% of the total investment), the state program provides $15,000 (33.33% of the total investment), and the bank loan covers the remaining balance of $12,000 (26.67% of the total investment)
To calculate the mixed TMAR, we need to consider the return expectations from each source. The shareholders expect a return of 20% per year, the state program offers a preferential rate of 5% per year, and the bank loan has an annual rate of 18%.
The mixed TMAR can be calculated as follows:
Mixed TMAR = (Shareholder Contribution * Shareholder Return) + (State Program Contribution * State Program Return) + (Bank Loan Contribution * Bank Loan Return)
= (0.4 * 20%) + (0.3333 * 5%) + (0.2667 * 18%)
= 8% + 1.6665% + 4.8%
= 14.4665%
Therefore, the mixed TMAR of the project is approximately 14.47%.
learn more about shareholders here:
https://brainly.com/question/32134220
#SPJ11
Which of the following statements is least likely to be found in the defendant's Answer?
a. The defendant's own allegations of facts.
b. The defendant's defenses.
c. The defendant admits the plaintiff's allegations.
d. The defendant denies the plaintiff's allegations.
The statement that is least likely to be found in the defendant's Answer is The defendant admits the plaintiff's allegations.
In the defendant's Answer, they typically respond to the plaintiff's allegations and present their defenses. The purpose of the Answer is for the defendant to deny or dispute the plaintiff's claims and assert their own version of the facts and defenses.
Therefore, options a, b, and d are commonly found in the defendant's Answer. The defendant may provide their own allegations of facts (a), present their defenses (b), and specifically deny the plaintiff's allegations (d) if they disagree with them.
However, it is uncommon for the defendant to admit the plaintiff's allegations (c) in their Answer, as this would essentially concede to the plaintiff's claims. The defendant's role is to contest the allegations and present their own side of the case, putting forth defenses and counterarguments to refute the plaintiff's claims.
To learn more about allegations
https://brainly.com/question/29245035
#SPJ11
Option c, "The defendant admits the plaintiff's allegations," is least likely to be found in the defendant's Answer.
In the defendant's Answer, the statement that is least likely to be found is option c: "The defendant admits the plaintiff's allegations."
When a defendant files an Answer in response to a plaintiff's complaint, they typically have three main options for responding to each allegation: admit, deny, or claim lack of knowledge. Admitting the plaintiff's allegations means the defendant agrees with and accepts the truth of those allegations. However, in a legal setting, it is uncommon for a defendant to admit the plaintiff's allegations outright. Admitting the allegations would weaken the defendant's position and make it easier for the plaintiff to win the case.
Instead, the defendant is more likely to either deny the plaintiff's allegations (option d) or claim lack of knowledge. By denying the allegations, the defendant states that they do not accept the truth of those allegations. Claiming lack of knowledge means the defendant is unsure of the truth of the allegations and is unable to either admit or deny them.
Learn more about allegations
https://brainly.com/question/23245049
#SPJ11
Most textbooks cover Descriptive, Predictive, and Prescriptive Analytics. The video provides a glimpse into Discovery Analytics.
How can this be used in the real world Business situations? Provide at least two examples.
Discovery Analytics can be used in real-world business situations to identify patterns, relationships, and insights in large datasets, enabling businesses to make informed decisions.
Discovery Analytics involves exploring and visualizing data to uncover hidden patterns, correlations, and trends. This can be used in various business situations. For example, in marketing, Discovery Analytics can help identify customer segments based on purchasing behavior, allowing businesses to target their marketing campaigns more effectively.
Additionally, in supply chain management, Discovery Analytics can analyze data from various sources to identify bottlenecks or inefficiencies in the supply chain, enabling businesses to optimize their operations and reduce costs. Overall, Discovery Analytics provides businesses with valuable insights that can drive strategic decision-making and improve overall performance.
Learn more about marketing campaigns here:
https://brainly.com/question/30237897
#SPJ11
Simulation Exercise
Step 1:
Business Strategy:
-What is the industry that the company operates in?
- What are the external competitive factors?
- What are the competitive advantage of competitors?
-What is your company’s business strategy?
- What is your competitive advantage?
- How does your compensation strategy align with business strategy?
Hr Strategy: (20 marks)
Culture/ values:
-What are the company’s values regarding employees and other stakeholders?
-How does the pay system align with company values?
Social and Political Context:
-What are the legal and regulatory requirements in your industry ?
-What are the cultural differences, demographics and employee expectations in your company?
Employee Preferences:
- What are the different needs and wants of your employees?
-Do they have choices in benefits?
-What are the costs to the company when giving different choices of benefits?
Union preferences:
-Does your company have employee unions?
- What are their preferences?
Step 2:
-Map the compensation strategy of your company based on the pay model.
-Compare with the nearest competitor- key similarities and differences
- Write the complete pay details- base pay, variable pay, benefits and other rewards for both the job position levels and explain your reasons
Step 3:
-How can compensation strategy be implemented?
–What happens to this strategy when there are changes in the market- recession, new competition.
Step 4:
Use the three tests to evaluate your compensation strategy:
-Is it aligned with your company strategy and values?
-Does it differentiate your company from the competition?
-Does it add value to your company?
The compensation strategy of a company should align with its business strategy, values, and competitive advantage while considering external factors such as industry competition, legal and regulatory requirements.
The compensation strategy of a company plays a crucial role in attracting, motivating, and retaining talented employees. To ensure alignment with the business strategy, the company must first understand the industry it operates in and identify the external competitive factors. This includes analyzing the competitive advantage of competitors to identify areas where the company can differentiate itself. The compensation strategy should then be developed to support the company's business strategy by aligning with its unique competitive advantage.
Additionally, the company's values and culture should be considered when designing the pay system. The compensation strategy should reflect the company's values regarding employees and other stakeholders, ensuring fairness and equity. It should also comply with legal and regulatory requirements specific to the industry, addressing any social or political context.
Employee preferences and needs should be taken into account, as different individuals have varying expectations and desires. Offering choices in benefits can help meet these diverse needs, although it's important to evaluate the costs associated with providing different options.
If the company has employee unions, their preferences should be considered and incorporated into the compensation strategy. Collaborative negotiations and agreements can help ensure a harmonious relationship with the unions.
To implement the compensation strategy effectively, clear communication, training, and regular evaluation are essential. Regular market analysis and monitoring are crucial to adapt the strategy to changes such as recessions or new competition. Flexibility and agility in adjusting the compensation strategy will help the company remain competitive and aligned with market dynamics.
To evaluate the compensation strategy, three tests can be applied. First, it should align with the company's overall strategy and values, reinforcing the desired organizational culture. Second, it should differentiate the company from its competitors by offering unique and compelling compensation packages.
Finally, it should add value to the company by attracting and retaining top talent, increasing employee engagement and productivity, and contributing to overall business success. Regular evaluation and feedback from employees and stakeholders can help fine-tune the compensation strategy over time, ensuring its continued effectiveness and relevance.
Learn more about business here: brainly.com/question/13160849
#SPJ11
Suppose Mexico were to subsidize the growing of cotton, allowing them to price lower than the current world price for cotton. Clearly describe the winners and losers from this subsidy. Explain why they would gain or lose
If Mexico subsidizes the growing of cotton and prices it lower than the current world price for cotton, the following would be the winners and losers from this subsidy.
Winners: Mexico's farmers would benefit from the subsidy as it would make their cotton cheaper than other cotton in the world. This would lead to more exports for Mexico, higher profits for farmers, and more income for laborers who work on cotton farms.
Losers: Textile companies who use cotton as a raw material for their products will lose out as the price of cotton will decrease. As a result, these companies will experience lower profits and may even go out of business if they are unable to cope with the new prices.
The countries that export cotton to Mexico would also lose out on exports to Mexico. The cotton subsidies from Mexico would shift demand from cotton imports to domestic cotton production, so other countries will lose a market.
Mexico's subsidy, on the other hand, will also result in lower prices of Mexican cotton, which will make it difficult for other cotton-growing countries to compete with it. Hence, other countries that export cotton to Mexico would suffer due to this action.
In conclusion, if Mexico subsidizes cotton farming, the winners are Mexican cotton farmers, and the losers are the textile companies and countries that export cotton to Mexico.
To know more about subsidizes visit:
https://brainly.com/question/2256061
#SPJ11
Projected average household size is the primary factor influencing the supply of housing True False
The given statement "Projected average household size is the primary factor influencing the supply of housing" is True.
The statement "Projected average household size is the primary factor influencing the supply of housing" is a true statement because it is evident that the housing demand depends on the average household size projected by the authorities.Housing supply and demand are some of the most critical topics in any real estate market.
The supply of housing depends on a variety of factors, including population growth, income levels, and employment opportunities. However, one of the most significant factors that influence housing demand is the projected average household size.To sum up, the projected average household size is the primary factor influencing the supply of housing.
Let us know more about supply of housing :
https://brainly.com/question/32581726.
#SPJ11
Study the supply chain of a company of your choice, discuss the
competitive strategy of this company and how it`s supply chain is
designed to support this strategy. In your report, you can give
examplee
It should enable the company to deliver products or services in a way that differentiates it from competitors and provides a competitive advantage in the market.
A company's competitive strategy is the approach it takes to gain a competitive advantage in the market. Supply chain design plays a crucial role in supporting this strategy. Here are some examples:
1. Cost Leadership Strategy: If a company's competitive strategy is focused on offering products at a lower cost than competitors, its supply chain may be designed to optimize efficiency and minimize costs. This could involve sourcing materials from low-cost suppliers, implementing lean manufacturing processes, and optimizing transportation and logistics to reduce expenses.
2. Differentiation Strategy: If a company's competitive strategy is to differentiate its products or services from competitors, its supply chain may be designed to support customization and flexibility. This could involve collaborating closely with suppliers to develop unique materials or components, implementing agile manufacturing processes to quickly respond to changing customer demands, and establishing efficient distribution channels to deliver customized products.
3. Focus Strategy: If a company's competitive strategy is to focus on a specific market segment or niche, its supply chain may be designed to cater specifically to the needs of that segment. This could involve building strong relationships with suppliers who specialize in the required materials or components, establishing localized distribution networks to reach the target market efficiently, and implementing demand forecasting techniques to ensure optimal inventory levels.
Overall, the design of a company's supply chain should align with its competitive strategy to effectively support its goals and objectives. It should enable the company to deliver products or services in a way that differentiates it from competitors and provides a competitive advantage in the market.
To know more about company visit:
https://brainly.com/question/30532251
#SPJ11
The Howe family recently bought a house. The house has a 15-year, $217,208.00 mortgage with monthly payments and a nominal interest rate of 5.7 percent. What is the total dollar amount of interest the family will pay during the first 5 years of their mortgage? (Assume that all payments are made at the end of the month.)
$54,828.90
$53,828.90
$52,828.90
$51,828.90
$50,828.90
The total dollar amount of interest the Howe family will pay during the first 5 years of their mortgage is $51,828.90.
To calculate the total interest paid, we need to find the monthly payment and multiply it by the number of months in 5 years.
First, we need to find the monthly interest rate by dividing the nominal interest rate by 12 (since there are 12 months in a year). So, the monthly interest rate is 5.7% / 12 = 0.475%.
Next, we calculate the monthly payment using the loan amount, interest rate, and loan term. The loan amount is $217,208.00, the interest rate is 0.475%, and the loan term is 15 years, or 15 * 12 = 180 months. We can use the formula for calculating a fixed monthly payment for a mortgage:
Monthly Payment = Loan Amount * (Monthly Interest Rate / (1 - (1 + Monthly Interest Rate) -Loan Term))
Plugging in the values, we get:
Monthly Payment = $217,208.00 * (0.00475 / (1 - (1 + 0.00475)⁻¹⁸⁰))
Calculating this, we find that the monthly payment is approximately $1,705.23.
To find the total interest paid during the first 5 years, we multiply the monthly payment by the number of months in 5 years (5 * 12 = 60). So, the total interest paid is $1,705.23 * 60 = $102,313.80.
However, we only want to know the interest paid, so we subtract the original loan amount of $217,208.00 to find the total interest paid during the first 5 years: $102,313.80 - $217,208.00 = $51,828.90.
To know more about nominal interest rate click on below link:
https://brainly.com/question/24018698#
#SPJ11
What term is used to represent unavoidable past costs that cannot be changed no matter what action is taken?
The term used to represent unavoidable past costs that cannot be changed regardless of the future actions taken is "sunk costs."
Sunk costs are costs that have already been incurred and cannot be recovered or changed, regardless of any future decision or action taken. These costs are irrelevant to current decision-making because they are in the past and cannot be altered.
Sunk costs can arise from various sources, such as investments in equipment, research and development, advertising campaigns, or training programs. Once the money or resources have been spent, they are considered sunk costs.
The key characteristic of sunk costs is that they should not factor into decision-making processes because they are independent of the current circumstances or future outcomes. Making decisions based on sunk costs can lead to irrational behavior and poor choices.
Instead, when making decisions, it is essential to focus on the relevant costs and benefits associated with the available alternatives. These relevant costs are the incremental or future costs and benefits that will change based on the chosen course of action.
By disregarding sunk costs and focusing on the future costs and benefits, decision-makers can make more rational and objective choices that are based on the expected future outcomes rather than past expenditures that cannot be recovered.
To know more about sunk costs, refer here:
https://brainly.com/question/30637355
#SPJ4
