Americo Industries' Consolidate Earnings. Americo is a U.S.-based multinational manufacturing firm with wholly-owned subsidiaries in Brazil, Germany, and China, in addition to domestic operations in the United States. Americo is traded on the NASDAQ. Americo currently has
647,000
shares outstanding. The basic operating characteristics of the various business units are as follows: (Click on
the
icon to import the table into a spreadsheet.)
|
Business Performance (000s) |
U.S. Parent (US$) |
Brazilian Subsidiary (R$) |
German Subsidiary (€) |
Chinese Subsidiary (¥) |
|
|
Earnings before taxes (EBT) |
$4,160 |
R$6,300 |
€4,120 |
¥2,500 |
|
|
Corporate income tax rate |
35% |
25% |
40% |
30% |
|
|
Average exchange rate for the period |
R$1.746/$ |
€0.6781/$ |
¥7.7246/$ |
Americo must pay corporate income tax in each country in which it currently has operations.
a. After deducting taxes in each country, what are Americo's consolidated earnings and consolidated earnings per share in U.S. dollars?
b. What proportion of Americo's consolidated earnings arise from each individual country?
c. What proportion of Americo's consolidated earnings arise from outside the United States?
a. After deducting taxes in each country, what are Americo's consolidated earnings and consolidated earnings per share in U.S. dollars?
Calculate the business performance per country below: (Round to two decimal places. Round exchange rates to four decimal places.)
|
U.S. Parent |
||
|
Business Performance (000s) |
Company |
|
|
Earnings before taxes (local currency) |
$ |
|
|
Less corporate income taxes |
$ |
|
|
Net profits of individual subsidiary |
$ |
|
|
Avg exchange rate for the period (fc/$) |
||
|
Net profits of individual subsidiary |
$ |
In: Finance
A foreign direct investment is acquiring certain “…assets with the intent to control and manage them.” (International Business, 2012). These types of investments are long term, as the time, money and resources that are put into acquiring them are vast! A “foreign direct investment is when an individual or business owns 10% or more of foreign company…it [is] part of his or her stock portfolio.” (Amadeo, 2018).
Foreign direct investment helps countries thrive that have them within it. These operations aid the communities that they are in by providing work to their citizens, cash flow in the community, and stability for numerous reasons. According to the article, Foreign Direct Investment, Its Pros, Cons, and Importance to You: How FDI Affects Your Life, written by Kimberly Amadeo, it states that,
“In 2017, global foreign direct investment was $1.52 trillion, according to the United Nations. The FDI is down 16 percent from 2016's record of $1.8 trillion. The decline was due to a 27 percent drop in developed countries. Investments returned to normal levels in the United States after spiking in 2016…In 2017, developing countries received 37 percent of total global FDI. They received 43 of worldwide investment. Investments rose 2 percent in Asia, the largest recipient region in the world”.
There are several types of direct foreign investments. To name a few there is an outward FDI, which is money coming into a country and outward FDI, which is a company who expands into another country, also sometimes known as a greenfield investment. "Horizontal FDI investment occurs when a company is trying to open up a new market...A vertical FDI is when a company invests internationally to provide input into its core operations--usually into its home country."
Please respond in 100-150 words
In: Economics
An open economy interacts with the rest of the world through its involvement in world markets for goods and services and world financial markets. Although it can often result in an imbalance in these markets, the following identity must remain true:
| Net Capital OutflowNet Capital Outflow | = = | Net ExportsNet Exports |
In other words, if a transaction directly affects the left side of this equation, then it must also affect the right side. The following problem will help you understand why this identity must hold.
Suppose you own a toy store in the United States, where there is high demand for the PlayNation Perfect, a video game console. Because of this, you spend $10,000 to increase your inventory of the gaming system, which is manufactured by Zony, a Japanese company, in Japan.
Determine the effects of this transaction on exports, imports, and net exports in the U.S. economy, and enter your results in the following table. If the direction of change is "No change," enter "0" in the Magnitude of Change column.
Hint: The magnitude of change should always be positive, regardless of the direction of change.
|
Direction of Change |
Magnitude of Change |
|
|---|---|---|
|
(Dollars) |
||
| Exports | increase, decrease or no change | |
| Imports | increase, decrease or no change | |
| Net Exports | increase, decrease or no change |
Because of the identity equation that relates to net exports, the____ in U.S. net exports is matched by_____ in U.S. net capital outflow. Which of the following is an example of how the United States might be affected in this scenario? Check all that apply.
Zony purchases $10,000 worth of stock in a U.S. company.
Zony purchases $10,000 worth of U.S. bonds.
Zony exchanges the $10,000 for yen at the local bank, which then uses the dollars to purchase U.S. bonds.
In: Economics
Chapter 4, Section 3, Exercise 116 Lizards and Invasive Fire Ants This exercise addresses lizard behavior in response to fire ants. The red imported fire ant, Solenopsis invicta, is native to South America, but has an expansive invasive range, including much of the southern United States (invasion of this ant is predicted to go global). In the United States, these ants occupy similar habitats as fence lizards. The ants eat the lizards and the lizards eat the ants, and in either scenario the venom from the fire ant can be fatal to the lizard. A study explored the question of whether lizards learn to adapt their behavior if their environment has been invaded by fire ants. The researchers selected lizards from an uninvaded habitat (eastern Arkansas) and lizards from an invaded habitat (southern Alabama, which has been invaded for more than 70 years) and exposed them to fire ants. They measured how long it takes each lizard to flee and the number of twitches each lizard does. The data are stored in FireAnts. If lizards adapt their behavior to the fire ants, then lizards from the invaded habitats should flee from the fire ants faster than lizards from the uninvaded habitats. Test this hypothesis. Time to flee is measured in seconds, and lizards taking more than a minute to flee have recorded responses of 61 seconds. Let group 1 be lizards from invaded habitats and let group 2 be lizards from uninvaded habitats.
(b) Use StatKey or other technology to compute the p-value.
Round your answer to three decimal places.
p-value = ?
In: Statistics and Probability
If we are lucky, there may be a vaccine available for COVID-19 in the next year or so. However, vaccine hesitancy among parents (for their children) as well as among adults (for themselves) exists in the United States which may limit the country's ability to control the COVID-19 pandemic in the United States. As a health psychologist, you have been given the job of using a theory of health behavior change to design a multi-level public intervention to increase the rate of COVID-19 vaccine uptake once it has been found to be effective. Using one or more theories of health behavior change (see Health Behavior Theories in Gurung, Chapter 7 and slides from 6/15 and 6/22), please briefly describe 3 behavior change strategies that encompass multiple levels including strategies that, 1) medical and other social service providers can use with individual patients/families to get them to get the vaccine and/or vaccinate their children; 2) social strategies, including strategies for changing social norms about the benefits of getting the vaccine, and 3) structural strategies including ease of obtaining the vaccine such as the availability, price, amount of time required, etc.
Please be specific regarding which theory (or theories) you are using and the corresponding strategy. For example, using the Theory of Planned Behavior, you might focus on changing parental attitudes about getting the vaccine by creating an instagram posts/videos for parents that focus on the way they value their children's education. The video would demonstrate that by getting the vaccine, it will enable their child - and their child's friends - to be able to attend school in-person.
Describe 3 health behavior strategies and the corresponding theory of health behavior change for increasing the uptake of the potential COVID-19 vaccine.
In: Psychology
which of the following statements is (are) correct?
(x) During the early 1960s, inflation was about 1 to 3 percent in
the United States, compared to about 4 to
6 percent in the late 1960s and early 1970s.
(y) In 1980, the U.S. unemployment rate was about 7 percent and
inflation was above 8 percent at the
same time.
(z) In the United States, the inflation rate has been consistently
below 4 percent during the period from
2000 to 2015.
A. (x), (y) and (z)
B. (x) and (y) only
C. (x) and (z) only
D. (y) and (z) only
E. (z) only
10. Many economists during the 1960s believed the implications of
the Phillips curve, which
A. indicated that low unemployment was associated with high
inflation and high unemployment was
associated with low inflation.
B. offered policymakers a menu of possible economic outcomes from
which to choose and the choice for
expansionary policy would lead to inflationary pressure but reduced
unemployment.
C. indicated that there was upward pressure on wages and prices
when unemployment was high.
D. All of the above are correct.
E. A and B, only
11. Which of the following would a student of economics expect
if government policy had moved the economy
up along a given short-run Phillips curve?
A. Roscoe reads in the newspaper that the central bank had been
increasing the purchase of bonds.
B. Bernadette loses her job because the factory shut down due to
declining economic conditions.
C. Jasmine’s nominal wage falls because the manager, filled with
jealousy, is stealing her tips.
D. Tim the “tool guy” cuts prices at his hardware store because of
falling sales.
E. Both B and D
In: Economics
QUESTION 1
True or False: In the last half of the 19th century, at least 25% of the immigrants each year were German. In 2015, about 14.2% of Americans traced their ancestors to Germany, more than any other country.
True
False
QUESTION 3
"________________" is the process in which formerly distinct and separate groups come to share a common culture and merge socially.
| a. |
Assimilation |
|
| b. |
Pluralism |
|
| c. |
Stereotyping |
|
| d. |
Immigration |
|
| e. |
None of the above. |
QUESTION 4
"__________________________" are immigrants who intend to return to their country of origin.
| a. |
Ethclass |
|
| b. |
Peasants |
|
| c. |
Proletariat |
|
| d. |
Sojourners |
|
| e. |
None of the above. |
QUESTION 5
Upon immigrating to the United States, Mario wrote to his relatives back in his small village in Italy. Upon hearing from Mario, several of his relatives joined him in his new home in the United States. Mario helped these relatives to find jobs, a place to live, and adjust to life in America. In turn, these new arrivals would send word back to the village. As more people from the village learned about America from Mario and others, they would immigrate and move to the same neighborhood. Businesses would be started, churches founded, and organizations formed as the old language was spoken and old ways observed.
This process is an example of how “___________________ __________________” worked.
| a. |
Chain immigration |
|
| b. |
Ethnic succession |
|
| c. |
Geographical distribution |
|
| d. |
Symbolic ethnicity |
|
| e. |
None of the above. |
QUESTION 6
Anti-Semitism is prejudice or ideological racism directed specifically toward "____________".
| a. |
Catholics |
|
| b. |
Italians |
|
| c. |
Protestants |
|
| d. |
Jews |
|
| e. |
None of the above. |
In: Psychology
John Ross graduated from college 6 years ago with a finance undergraduate degree. Although he is satisfied with his current job, his dream is to become an investment banker. To become an investment banker, he would need to take an MBA degree. He is, thus, looking for colleges. After some time, John has narrowed his choice to Brandeis University, Carlton College, or Northeastern University. Both schools allow and encourage internships. However, the Northeastern University will allow students to work while enrolled in a MBA program.
I will describe below the four alternatives that John Ross can evaluate as of today.
Alternative (1)
He can keep his current job at the management firm D&L. His annual salary at the firm is $65,000 per year and is salary is expected to increase at 3% per year until retirement. He is currently 28 years old and he expects to work for 40 more years. His current job includes a full paid health insurance plan and is current average tax rate is 26%. Ben has a savings account with enough money to cover the entire cost of the MBA program.
Alternative (2)
The MBA program at Brandeis University requires two years of full-time enrollment at the university. The annual tuition is $70,000. Books and other supplies are estimated to cost $3,000 per year. John expects that after graduation from Brandeis University he will receive a job offer of $110,000 per year with a signing bonus of $20,000. The expected salary will increase at 4% per year. Because of the higher salary, the average income tax rate will be 31%.
Alternative (3)
The Carlton College offers a one-year program. The tuition cost is $85,000 to be paid upon matriculation. Books and other supplies for the program are expected to cost $4,500. John thinks that after the Carlton degree he will be able to receive an offer of $92,000 per year with a $18,000 signing bonus. The salary at this job will increase at 3.5% per year. His average tax rate at this level of income will be 29%.
Alternative (4)
Northeastern University offers a two-years program. The annual tuition is $90.000. Northeastern allows students to work while enrolled in the MBA program. After some research, John has found out that he can potentially work for his marketing professor as research assistant. The annual stipend for this position at Northeastern University is $25,000 for the first year and $27,000 for the second year. Books and other supplies are estimated to cost $2,000 per year. John expects that after graduation from Northeastern University he will receive a job offer of $85,000 per year with a signing bonus of $10,000. The expected salary will increase at 2% per year for the first 10 years. The growth rate will be 4% thereafter. The average income tax rate is 30%.
All schools offer a health insurance plan that will cost $3,000 per year. John also estimates that room and board expenses will cost $2,000 more per year at all schools than his current expenses. The appropriate discount rate is 6.3%.
Determine the NPV for each of the four alternatives.
In: Finance
Lamarck, in part, based his erroneous theory of evolution on the
passing of acquired characteristics from one generation to
the next. Darwin’s theory is based on the passing of
inherited genetic characteristics from one generation to
the next. Determine which of the characteristics listed below are
acquired, inherited or involve both acquired and
inherited
Explain your choices.
1. Increased proficiency in playing the clarinet: acquired or inherited or both
2. Thick subcutaneous fat layer in arctic seals: acquired or inherited or both
3. Attaining a height of two meters in humans: acquired or inherited or both
4. Grizzly bears hibernating during the winter: acquired or inherited or both
In: Biology
In: Accounting