Testbank Multiple Choice Question 116 Crane Company traded machinery with a book value of $921440 and a fair value of $886000. It received in exchange from Wildhorse Co. a machine with a fair value of $1054340. Crane also paid cash of $105434 in the exchange. Wildhorse’s machine has a book value of $921440. What amount of gain or loss should Crane recognize on the exchange (assuming lack of commercial substance)? $3544 loss $105434 gain $35440 loss $ -0-

cranium, inc., purchases term papers from an overseas supplier under a continuous review system. the average demand for a popular mode is 300 units a day with a standard deviation of 30 units a day. it costs $60 to process each order and there is a five−day lead−time. the holding cost for a paper is $0.25 per year and the company policy is to maintain a 98% service level. cranium operates 200 days per year.what is the reorder point r to satisfy a 98% cycleminus−service level? a. greater than 1,700 unitsb. greater than 1,600 units but less than or equal to 1,700 unitsc. greater than 1,500 units but less than or equal to 1,600 unitsd. less than or equal to 1,500 units

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Aborrower takes out a 30-year adjustable rate mortgage loan for $200,000 with monthly payments. the first two years of the loan have a "teaser" rate of 4%, after that, the rate can reset with a 5% annual payment cap. on the reset date, the composite rate is 6%. what would the year 3 monthly payment be?