Monty loaned his friend Ned $12,000 three years ago. Ned signed a note and made payments on the loan. Last year, when the remaining balance was $8,400, Ned filed for bankruptcy and notified Monty that he would be unable to pay the balance on the loan. Monty treated the $8,400 as a nonbusiness bad debt. Last year, before considering the tax implications of the nonbusiness bad debt, Monty had capital gains of $3,360 and taxable income of $47,250. During the current year, Ned paid Monty $7,560 in satisfaction of the debt. Determine Monty's tax treatment for the $7,560 received in the current year.

Calculate the required rate of return for climax inc., assuming that (1) investors expect a 4.0% rate of inflation in the future, (2) the real risk-free rate is 3.0%, (3) the market risk premium is 5.0%, (4) the firm has a beta of 2.30, and (5) its realized rate of return has averaged 15.0% over the last 5 years. do not round your intermediate calculations.

Which one of the following is not a typical current liability? a. interest payable b. current maturities of long-term debt c. salaries payable d. mortgages payable

Anew japanese restaurant opens two blocks from your home. the owner, reiko, is a personal friend of yours. you don't particularly like japanese food, but you decide to go anyway; however, there is nothing on the menu that sounds appealing. unfortunately, it turns out that most of the people in your town don't like japanese cuisine either. reiko confides that business is not good, but she isn't sure what to do from an economic standpoint. which of the following would most likely describe adam smith's perspective on this problem? select one: a. reiko should ask the government for assistance. b. reiko should close the restaurant and find a different career. c. reiko should lay off workers and do everything herself to save money. d. reiko should add other foods to the menu and offer discounts to attract more people to her restaurant.