Suppose a piece of art has recently become available for sale and will be auctioned off to the highest bidder with the winner paying an amount equal to the second highest bid. Assume most collectors know that Frances places a value of 65,000 on the art piece. Suppose no one else shows up and Frances bids 32,500 and wins the piece of art. The expected price paid by Frances with no other bidders present is ?
Suppose Jake is recruited to the auction . Jake is known to value the art piece at $52,000. The expected price paid by Frances given the presence of the second bidder is ?

Quantitative problem: you need $20,000 to purchase a used car. your wealthy uncle is willing to lend you the money as an amortized loan. he would like you to make annual payments for 4 years, with the first payment to be made one year from today. he requires a 8% annual return. what will be your annual loan payments? round your answer to the nearest cent. do not round intermediate calculations. $ how much of your first payment will be applied to interest and to principal repayment? round your answer to the nearest cent. do not round intermediate calculations. interest: $ principal repayment

For the year ended december 31, a company has revenues of $323,000 and expenses of $199,000. the company paid $52,400 in dividends during the year. the balance in the retained earnings account before closing is $87,000. which of the following entries would be used to close the dividends account?

Omnidata uses the annualized income method to determine its quarterly federal income tax payments. it had $100,000, $50,000, and $90,000 of taxable income for the first, second, and third quarters, respectively ($240,000 in total through the first three quarters). what is omnidata's annual estimated taxable income for purposes of calculating the third quarter estimated payment?