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Easy Finance Questions. Please show your work so I understand how you arrived at your answer. Feel free to respond in a word document if thats easier.
1.Determine the net income and also the cash flow from operations for the following firm: $500,000 sales, $10,000 cash dividends, $300,000 cost of goods sold, $20,000 administrative expense, $20,000 depreciation expense, $40,000 interest expense, and a tax rate of 34 percent.
2. What is the change in cash balance for a firm with: $10,000 cash flow from operations, $1,600 cash used for new investment, a reduction in the level of debt of $2,000, $1,000 in cash dividends, and $200 in depreciation expense?
3. Compute the total tax liability, the average tax rate, and the marginal tax rate for the following corporation: $1,000,000 in taxable income; 15 percent tax up to $50,000, 25 percent up to $75,000, 34 percent up to $100,000, and 39 percent over $100,000.
4. If four years of college is expected to cost $150,000 18 years from now, how much must be deposited now into an account that will average 8 percent annually in order to save the $150,000? By how much would your answer change if you expected 11 percent annually? Explain the difference.
5. After reading the fine print in your credit card agreement, you find that the “low” interest rate is actually an 18 percent APR, or 1.5 percent per month. Now, to make you feel even worse, calculate the effective annual interest rate.
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