On May 15, Maynard Co. borrowed cash from Texas Bank by issuing a 120-day note with a face amount of $58,800. Assume a 360-day year. Required:
a. Determine the proceeds of the note, assuming the note carries an interest rate of 7%.
b. Determine the proceeds of the note, assuming the note is discounted at 7%.

Suzanna decided not to pay federal income tax, saying that paying federal income tax is optional. describe two possible consequences of suzanna’s decision

4. the condition requires that only one of the selected criteria be true for a record to be displayed.

Portia grant is an employee who is paid monthly. for the month of january of the current year, she earned a total of $8,388. the fica tax for social security is 6.2% of the first $118,500 earned each calendar year and the fica tax rate for medicare is 1.45% of all earnings. the futa tax rate of 0.6% and the suta tax rate of 5.4% are applied to the first $7,000 of an employee's pay. the amount of federal income tax withheld from her earnings was $1,391.77. what is the total amount of taxes withheld from the portia's earnings?