Jill was a limited partner in a retail limited partnership that was sued by a customer who fell in the store. The customer claimed the business was negligent in caring for its floors. Which statement best describes Jills potential liability?
Jill wants to invest in a four-year bond that pays a coupon of 11 percent annually. The bonds are selling at $962.13 today and have a face value of $1,000. If she buys this bond and holds it to maturity, what would be the yield? (USE EXCEL or FINANCIAL CALCULATOR. Round to the closest answer.)
Select one:
A. 10.80%
B. 11.80%
C. 12.50%
D. 12.25%
Jill’s will states in part “I devise the sum of $10,000 to Mary.” The personal representative of Jill’s estate, being short of cash, distributes 100 shares of XYZ corporation to Mary in satisfaction of her devise. On date of distribution the 100 shares of XYZ have a fair market value of $10,000. The estate’s basis in the stock is $5,000. This transaction results in
a.realization and recognition of $5,000 capital gain by the estate.
b.Mary will be taxed on ordinary income of $5,000 assuming there is enough taxable DNI to cover this amount.
c.Mary will be taxed on ordinary income of $10,000 assuming there is enough taxable DNI to cover this amount.
d.Mary will not be taxed because she received specific property , i.e., the XYZ stock, instead of cash.
Joanne is a seventy-five-year-old widow who survives on her husband’s small pension. Joanne has become increasingly forgetful, and her family worries that she may have Alzheimer’s disease (a brain disorder that seri- ously affects a person’s ability to carry out daily activities). No physician has diagnosed her, however, and no court has ruled on Joanne’s legal competence. One day while out shopping, Joanne stops by a store that is having a sale on pianos and enters into a fifteen-year installment contract to buy a grand piano. When the piano arrives the next day, Joanne seems confused and repeatedly asks the deliveryperson why a piano is being delivered. Joanne claims that she does not recall buy- ing a piano. Explain whether this contract is void, voidable, or valid. Can Joanne avoid her contractual obligation to buy the piano? If so, how?
Jimmy will have $85979 in wealth and a utility of 336 when he is healthy and $38400 in wealth and a utility of 206 when he is ill. What is Jimmy’s expected utility if the chance of illness is 0.12?
** Show work please
Joan Salmon is the 35 year old daughter of Garret Salmon the owner of a medium sized party invitation company “Invitations Inc.” Joan has recently received a degree from UMUC in Business Management and is anxious to take over her father’s company. She is a single mother, very attractive but a little retiring in her manner. She and her father have been planning her take over for several years, ever since her ex-husband left the business after their divorce, an event that did not go unnoticed within the company. Joan has always worked in some capacity within the company but never in a serious leadership role. She is simply known as the “boss’ daughter”. Joan and her father have agreed that she will take over as CEO in the next two months. No one knows of this decision.
Jimmy wants to take English 111, a 3 credit course, at a local community college. He was told by the college business office that the course would cost him $712.30. What is the cost per hour of this course
JOAN OF ARC: Joan’s Mission
What is Joan’s story? How did a teenage girl become a hero that is still revered centuries later?did Joan of Arc actually live? How is she viewed today by the French people and by Catholics worldwide?
indifferent between owning the lottery ticket or owning $400 in cash.
True or false and explain: if the probability of the lottery ticket winning decreases to 25%, Jimmy will be willing to sell the lottery ticket for $150.
Joan is on summer break and spends most of her time either playing video games
or browsing the internet. Her utility function is U(q1; q2) = 3q0:2
1 q0:8
2 , where q1 represents the
hours spent browsing the internet and q2 hours playing video games. Joan does not have a budget
constraint but she has 15 hours to spend on both activities.
(a) (5 points) Write the equation for one of Joan’s indifference curves when the level of utility is
equal to 100.
(b) (5 points) Write Joan’s time constraint.
(c) (10 points) Find the amount of hours that Joan will spend on each activity that maximizes her
utility and satisfies her time constraint. Use either the substitution or Lagrangian method.
(d) (5 points) Can Joan afford any bundle that yields a utility of 50? Explain.
(e) (5 points) How does Joan’s optimum amount of time spent on each activity change if her
utility function is U(q1; q2) = 5ln(3) + ln(q1) + 4ln(q2)?
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