A $40,000 machine will be purchased by a company whose interest rate is 12%. The installation cost is $5,000, and removal costs are insignificant. What is its economic life if its salvage values and O&M costs are as follows? Year 1 => Salvage value = $35,000, O&M cost = $8,000
Year 2 => Salvage value = $30,000, O&M cost = $14,000
Year 3 => Salvage value = $25,000, O&M cost = $20,000
Year 4 => Salvage value = $20,000, O&M cost = $26,000
Year 5 => Salvage value = $15,000, O&M cost = $32,000

Congressman patrick indicates that he is opposed to tax proposals that call for a flat tax rate because the structure would not tax those individuals who have the ability to pay the tax. discuss the position of the congressman, giving consideration to tax rate structures (e. g., progressive, proportional, and regressive) and the concept of equity.

Kandon enterprises, inc., has two operating divisions; one manufactures machinery and the other breeds and sells horses. both divisions are considered separate components as defined by generally accepted accounting principles. the horse division has been unprofitable, and on november 15, 2018, kandon adopted a formal plan to sell the division. the sale was completed on april 30, 2019. at december 31, 2018, the component was considered held for sale. on december 31, 2018, the company’s fiscal year-end, the book value of the assets of the horse division was $415,000. on that date, the fair value of the assets, less costs to sell, was $350,000. the before-tax loss from operations of the division for the year was $290,000. the company’s effective tax rate is 40%. the after-tax income from continuing operations for 2018 was $550,000. required: 1. prepare a partial income statement for 2018 beginning with income from continuing operations. ignore eps disclosures. 2. prepare a partial income statement for 2018 beginning with income from continuing operations. assuming that the estimated net fair value of the horse division’s assets was $700,000, instead of $350,000. ignore eps disclosures.

Explain where you plan to get funding for your company