Torey corporation was organized on april 1, with an authorization of 25,000 shares of six percent, $50 par value preferred stock and 200,000 shares of $5 par value common stock. during april, the following transactions affecting stockholders’ equity occurred: apr. 1 issued 80,000 shares of common stock at $40 cash per share. 3 issued 2,000 shares of common stock to attorneys and promoters in exchange for their services in organizing the corporation. the services were valued at $31,000. 8 issued 3,000 shares of common stock in exchange for equipment with a fair market value of $55,000. 20 issued 6,000 shares of preferred stock for cash at $80 per share.

Suppose an economist believes that the price level in the economy is directly related to the money supply, or the amount of money circulating in the economy. the economist proposes the following relationship: p=a x m - p=price level - m=money supply - a=a composite of other factors, including real gdp, that change very slowly over time. how might an economist gather empirical data to test the proposed relationship between money and the price level? an economist would persuade the federal reserve to change the money supply to various levels, and observe the resulting changes in the price level. unlike researchers in the hard sciences, economists cannot study complex relationships using data. economists do not usually develop theoretical models of the economy but only analyze summary statistics about the current state of the economy. an economist would look for data on past changes in the money supply, and note the resulting changes in the price level

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Compute the cost of not taking the following cash discounts. (use a 360-day year. do not round intermediate calculations. input your final answers as a percent rounded to 2 decimal places.)