Wozniacki and others form Jewel LLC, with each receiving a one-fifth interest in the capital and profits of the LLC. Wozniacki receives his one-fifth interest as compensation for tax planning services he rendered prior to the formation of the LLC. The other partners each contribute $245,675 cash. The value of a one-fifth capital interest in the LLC (for each of the parties) is $245,675. a. How much income does Wozniacki recognize as a result of this transaction, and what is the character of the income?
b. How much is Wozniacki’s basis in the LLC interest?
c. How will Jewel treat this amount?

Leticia has worked for 20 years in the public relations department of a large firm and has been the vice-president for the past ten years. it is unlikely she will ever be promoted to the top executive position in her firm even though she has directed several successful projects and is quite capable. her lack of promotion is an illustration of (a) the "glass ceiling" (b) the "glass elevator" (c) the "mommy track" (d) sexual harassment

If springfield is operating at full employment who is working a. everyone b. about 96% of the workforce c. the entire work force d. the robots

Anew firm is developing its business plan. it will require $615,000 of assets, and it projects $450,000 of sales and $355,000 of operating costs for the first year. management is reasonably sure of these numbers because of contracts with its customers and suppliers. it can borrow at a rate of 7.5%, but the bank requires it to have a tie of at least 4.0, and if the tie falls below this level the bank will call in the loan and the firm will go bankrupt. what is the maximum debt ratio the firm can use? (hint: find the maximum dollars of interest, then the debt that produces that interest, and then the related debt ratio.)a. 41.94%b. 44.15%c. 46.47%d. 48.92%e. 51.49%