Hart, an individual, bought an asset for $500,000 and has claimed $100,000 of depreciation deductions against the asset. Hart has a marginal tax rate of 32 percentb1. What is the amount and character of Hart’s recognized gain or loss if the asset is the tangible personal property sold for $550,000?

b2. Due to this sale, what tax effect does Hart have for the year?

Lynch company manufactures and sells a single product. the following costs were incurred during the company’s first year of operations: variable costs per unit: manufacturing: direct materials $ 12 direct labor $ 6 variable manufacturing overhead $ 1 variable selling and administrative $ 1 fixed costs per year: fixed manufacturing overhead $ 308,000 fixed selling and administrative $ 218,000 during the year, the company produced 28,000 units and sold 15,000 units. the selling price of the company’s product is $56 per unit. required: 1. assume that the company uses absorption costing: a. compute the unit product cost. b. prepare an income statement for the year. 2. assume that the company uses variable costing: a. compute the unit product cost. b. prepare an income statement for the year.

According to the video, the gross national product had declined from $104 billion in 1929 to about in 1933.

Suppose there is a 6 percent increase in the price of good x and a resulting 6 percent decrease in the quantity of x demanded. price elasticity of demand for x is a. 0 b. 6 c. 1 d. 36