Principal Residence Designation

Since 1998, Petumala Fluffy has owned a residence in Kelowna, British Columbia. It was acquired in that year at a cost of $623,000.

In 2006, Petumala was appointed to the Senate and, because of the significant amount of time that she was required to be present in Ottawa, she acquired a second residence in that city. The cost of this residence was $426,000. In each of the subsequent years, she spent some time at each residence.

In 2017, following allegations that she had claimed and double claimed completely inappropriate travel costs, she resigned from the Senate. As this created severe financial difficulties (among other problems), she sold both residences and moved in with her mother. The Kelowna house sold for $897,000, while the Ottawa home sold for $534,000. These amounts are net of all real estate fees.

Ms. Fluffy would like to minimize any capital gain that arises as the result of selling the two properties.

Required: Describe how the residences should be designated in order to accomplish Ms. Petumala’s goal. In addition, calculate the total amount of the gain that would arise under the designation that you have recommended.

The U.S. and many other governments spend more then it raises in taxation almost every year. Since 1965 the federal government has balanced its budget 4 times (1969, 1998-2000). What are the moral aspects of this? What are the moral failings of the people (government and voters) that allow us to justify non-stop borrowing from the future to pay for current consumption? What should we do and why don't we do it?

below are EXCEL outputs for various estimated autoregressive models for Coca-Cola's real operating revenues (in billions of dollars) from 1975 to 1998. From the data, we also know that the real operating revenues for 1996, 1997, and 1998 are 11.7909, 11.7757 and, 11.5537, respectively.                                                                                                                                                                                                                         AR(1) Model:

AR(2) Model:

AR(3) Model:

Referring to Table 16-4 and using a 5% level of significance, what is the model that uses the most lag variables?

Question 7 options:

Question 1) In 2017, Angie placed in service $4,000 of 5-year property and $6,000 of 7 year property. What is the effect of an election to use straight line depreciation over the alternative depreciation system life for the 5 year property for 2017?

A. the election must cover 5 year and 7 year property placed in service in 2017 and future years.
B. the election must cover the 5 year and 7 year property.
C. the election will apply to the 5 year property placed in service in 2017 and future years.
D. the election will apply to the 5 year property placed in service in 2017.

Question 2) In 1998, a taxpayer places into service an asset costing $6,000 with a 3-year recovery period for regular tax purposes and a 4 year alternative depreciation system recovery period for alternative minimum tax purposes. For regular tax purposes, 200% declining balance depreciation is selected. What is the greatest amount of depreciation allowed for alternative minimum taxable income in 1998?

A. $1,125
B. $1,500
C. $2,000
D. $2,250

Note: This was all the information provided in the questions. I removed the 3rd question because I figured it out.

Belinda wants to buy a second-hand car and visits a number of car dealers before deciding to purchase an as new 1998 Ford Mustang from American Car Sales. The sales person, Jaxson, tells Belinda that the car was manufactured in 1998 and had only done 54,000 kms.

Three months later, Belinda has the Mustang serviced with her local mechanic who was a Mustang enthusiast. He comments on the fact that the car was in pretty good condition for a 1994 Mustang, though he was surprised that it had only done 54,000 kms. He would not have been surprised if it had done 100,000 kms.

Belinda makes further inquiries and discovers that the Mustang was in fact made in 1994 and she has paid about $5,000 more than the actual market value of the car. Belinda intends to approach American Car Sales about this issue.

Does Belinda have any contractual rights against American Car Sales?

Required:
You are expected to discuss legal rules learned regarding terms of a contract, in particular statements and representations, and conditions and warranties.

Do not answer this question based on Australian Consumer Law principles. No credit will be given if you do so.
ANSWER:

.Belinda wants to buy a second-hand car and visits a number of car dealers before deciding to purchase an as new 1998 Ford Mustang from American Car Sales. The sales person, Jaxson, tells Belinda that the car was manufactured in 1998 and had only done 54,000 kms.

Three months later, Belinda has the Mustang serviced with her local mechanic who was a Mustang enthusiast. He comments on the fact that the car was in pretty good condition for a 1994 Mustang, though he was surprised that it had only done 54,000 kms. He would not have been surprised if it had done 100,000 kms.

Belinda makes further inquiries and discovers that the Mustang was in fact made in 1994 and she has paid about $5,000 more than the actual market value of the car. Belinda intends to approach American Car Sales about this issue.

Does Belinda have any contractual rights against American Car Sales? (10marks)

Required:

You are expected to discuss legal rules learned regarding terms of a contract, in particular statements and representations, and conditions and warranties.

Do not answer this question based on Australian Consumer Law principles. No credit will be given if you do so.

How successful do you predict these recently proposed extensions will be? Why?

• Carlsberg, the beer brand, launches a male grooming line made out of beer

• Michelin (tires, mostly): car floor mats

• WWE (entertainment wrestling): theme park

• Victorinox (Swiss Army knife): camping and hiking equipment

Use the Housing Interest Rate database (see DATA at bottom of this question)

In this part using Housing Interest Rate database, the objective is to compare the variation in the FIXED_RATE between two periods; before 2000 and after year 2000.

• i) Using descriptive statistics measures to interpret the shape of FIXED_RATE variable, calculate any outlier(s) finally verify whether if the empirical rule applies to the FIXED_RATE distribution.  Use an appropriate graph to confirm your findings.

• ii) Use a random generating procedure to draw a random sample of size 80 with respect to the “before and after year 2000 “factor.  Indicate which sampling method you used.  Using your sample data, calculate which period shows more variation in the FIXED_RATE.  Using the sample data, what is the   sampling error of FIXED_RATE?

I WILL GIVE YOU THUMBS UP AND EXCELLENT REVIEWS FOR HELP/GUIDANCE WITH THIS. ANY HELP WILL BE GREATLY APPRECIATED! THANK YOU!

DATA: