Joe and June Green are planning for their children’s college education. Joe would like his kids to attend his alma mater where tuition is currently $25,000 per year. Tuition costs are expected to increase by 5 percent each year. Their children, David and Daniel, just turned 2 and 3 years old today, September 1, 2002. They are expected to begin college the year in which they turn 18 years old and each will complete his schooling in four years. College tuition must be paid at the beginning of each school year. Grandma Green invested $10,000 in a mutual fund the day each child was born. This was to begin the boys’ college fund (a combined fund for both children). The investment has earned and is expected to continue to earn 12 percent per year. Joe and June will now begin adding to this fund every August 31st (beginning with August 31, 2003) to ensure that there is enough money to send the kids to college. How much money must Joe and June put into the college fund each of the next 15 years if their goal is to have all of the money in the investment account by the time Daniel (the oldest son) begins college?

Benton company (bc), a calendar year entity, has one owner, who is in the 37% federal income tax bracket (any net capital gains or dividends would be taxed at a 20% rate). bc's gross income is $395,000, and its ordinary trade or business deductions are $245,000. ignore the standard deduction (or itemized deductions) and the deduction for qualified business income. if required, round computations to the nearest dollar. a. bc is operated as a proprietorship, and the owner withdraws $100,000 for personal use. bc's taxable income for the current year is $ , and the tax liability associated with the income from the sole proprietorship is $ . b. bc is operated as a c corporation, pays out $100,000 as salary, and pays no dividends to its shareholder. bc's taxable income for the current year is $ , and bc's tax liability is $ . the shareholder's tax liability is $ . c. bc is operated as a c corporation and pays out no salary or dividends to its shareholder. bc's taxable income for the current year is $ , and bc's tax liability is $ . d. bc is operated as a c corporation, pays out $100,000 as salary, and pays out the remainder of its earnings as dividends. bc's taxable income for the current year is $ , and bc's tax liability is $ .

Suppose that a monopolistically competitive restaurant is currently serving 260 meals per day (the output where mr

Abank has $132,000 in excess reserves and the required reserve ratio is 11 percent. this means the bank could have in checkable deposit liabilities and in (total) reserves.