Meredith is a passive 30% member of the mno llc. she is not a managing member and she does not participate in any activities of the llc. her interest is more in the nature of an investment. in the current year, meredith's distributive share of income from the llc was $50,000. in addition, she received a guaranteed payment of $40,000 for the use of her capital. assume that her income from other sources exceeds $500,000. how much of meredith's llc income will be subject to the self-employment (se) tax (under the proposed regulations) and the net investment income (nii) tax? (disregard the additional medicare tax on upper-income taxpayers.)a.$90,000 se tax; $0 nii tax. b.$0 se tax; $90,000 nii tax. c.$50,000 se tax; $40,000 nii tax. d.$0 se tax; $0 nii tax. e.$0 se tax; $40,000 nii tax.

Peppy roaney believes that pizza is a much more versatile dish than most people realize. as the national marketing manager for pizza guys, he observed how consumers were delighted with barbecue pizza, hawaiian pizza, mexican pizza and other unique combinations. his suggestions for other unusual pizzas, however, were met with a negative response by his superiors. even some of his colleagues laughed at his ideas. peppy's confidence in his ability to understand the market has led him to focus on planning a business of his own. peppy realizes that he will take a risk when he leaves his job with pizza guys and embarks upon a new venture: peppy's pizzazzeria. peppy is excited about the potential of profitably catering to the unmet desires of pizza consumers. peppy is confident that peppy's pizzazzeria will be a success, but only if he has enough money to do things right. since peppy has very little personal wealth, he knows he must obtain financial assistance. in order to prepare for meetings with bankers and p

land, a building and equipment are acquired for a lump sum of $ 1,000,000. the market values of the land, building and equipment are $ 300,000, $ 800,000 and $ 300,000, respectively. what is the cost assigned to the equipment? (do not round any intermediary calculations, and round your final answer to the nearest dollar.)

Wallace company provides the following data for next year: month budgeted sales january $120,000 february 108,000 march 140,000 april 147,000 the gross profit rate is 35% of sales. inventory at the end of december is $29,600 and target ending inventory levels are 10% of next month's sales, stated at cost. what is the amount of purchases budgeted for january?