Ulian and jonathan are twin brothers (and so were born on the same day). today, both turned 25. their grandfather began putting $2,500 per year into a trust fund for julian on his 20th birthday, and he just made a 6th payment into the fund. the grandfather (or his estate's trustee) will make 40 more $2,500 payments until a 46th and final payment is made on julian's 65th birthday. the grandfather set things up this way because he wants julian to work, not be a "trust fund baby," but he also wants to ensure that julian is provided for in his old age. until now, the grandfather has been disappointed with jonathan and so has not given him anything. however, they recently reconciled, and the grandfather decided to make an equivalent provision for jonathan. he will make the first payment to a trust for jonathan today, and he has instructed his trustee to make 40 additional equal annual payments until jonathan turns 65, when the 41st and final payment will be made. if both trusts earn an annual return of 8%, how much must the grandfather put into jonathan's trust today and each subsequent year to enable him to have the same retirement nest egg as julian after the last payment is made on their 65th birthday?

Milden company has an exclusive franchise to purchase a product from the manufacturer and distribute it on the retail level. as an aid in planning, the company has decided to start using a contribution format income statement. to have data to prepare such a statement, the company has analyzed its expenses and has developed the following cost formulas: cost cost formula cost of good sold $35 per unit sold advertising expense $210,000 per quarter sales commissions 6% of sales shipping expense ? administrative salaries $145,000 per quarter insurance expense $9,000 per quarter depreciation expense $76,000 per quarter management has concluded that shipping expense is a mixed cost, containing both variable and fixed cost elements. units sold and the related shipping expense over the last eight quarters follow: quarter units sold shipping expense year 1: first 10,000 $ 119,000 second 16,000 $ 175,000 third 18,000 $ 190,000 fourth 15,000 $ 164,000 year 2: first 11,000 $ 130,000 second 17,000 $ 185,000 third 20,000 $ 210,000 fourth 13,000 $ 147,000 milden company’s president would like a cost formula derived for shipping expense so that a budgeted contribution format income statement can be prepared for the next quarter. required: 1. using the high-low method, estimate a cost formula for shipping expe