While World War II ended in Europe with the suicide of Hitler and the defeat of German troops, the war in the Pacific promised to be a long drawn out affair. Harry Truman became President in April of 1945 upon the death of President Franklin D. Roosevelt. Truman, who had no idea what an atomic weapon was decided to use them to end the war in the Pacific in August, 1945. While the United States forces were advancing on Japan, Truman had to weigh the cost of an invasion of Japan versus the use of the new weapons.   The military estimated that over a million men would be killed or wounded in an invasion of the Japanese homelands and would take several years.  

The use of atomic weapons to end World War II is still controversial today.  

Do you think President Truman was right in using Fat Man and Little Boy to end the war or should the use of atomic weapons have been stopped before their use to prevent the arms race that led to the Cold War?

International Financial Reporting Standards (IFRS) do not allow companies that follow the accounting rules to use LIFO for financial reporting. Your post should explain two things:

1. Why do you think LIFO is not allowed by IFRS but is allowed by GAAP in the United States?

2. Another area of accounting rules where there is a significant difference between US GAAP and International Financial Reporting Standards.

Please include the reference where you found information to form your opinion in 1 and where you found the difference in 2. We are not so worried about the exact format of the reference but you do need to point where you got your information. This original post should be made by Saturday.  

The follow up post will comment solely on the sources of information used by one of your colleagues in their original post. Your follow up post will answer two questions with regard to those sources:

1. Is this a trustworthy source?

2. Why or why not?

It is the year 2021 and Pork Barrels, Inc., is considering construction of a new barrel plant in Spain. The forecasted cash flows in millions of euros are as follows:

The spot exchange rate is $1.27 = €1. The interest rate in the United States is 11%, and the euro interest rate is 8%. You can assume that pork barrel production is effectively risk-free.

1. b. What are the dollar cash flows from the project if the company hedges against exchange rate changes?

What are the dollar cash flows from the project if the company hedges against exchange rate changes? (Negative amounts should be indicated by minus sign. Enter your answers in millions. Do not round intermediate calculations. Round "Forward rate" to 3 decimal places and "Cash flow" to 2 decimal places.)

Costa Cruise Lines (CCL) (a U.S. company based in Miami, FL) purchased a ship from Komatsu Heavy Equipment for ¥700 million – payable in 1 year. The current spot rate is ¥110/$ and the one-year forward rate is ¥108/$. For borrowing (or depositing), the annual interest rate in Japan is 6%. In the United States, the rate is 2%. Yen call and put options, with a 1-year expiration date and an exercise price of $.009 are available. The price (premium) of the call option is $.002 per yen. The price (premium) of the put option is $.001 per yen. * Assume that one year from today, the spot rate for yen is either ¥130/$ or ¥105/$.

* If CCL decides to hedge with options, should they use a call or a put?

* If CCL follows the appropriate options hedging strategy, what is CCL’s net cost (in $US) to purchase the ship if the spot rate is ¥130/$?

* What is the net cost if the spot rate is ¥105/$? (Be sure to include the cost of buying the option in your answer.)

A paper described a survey of 495 undergraduate students at a state university in the southwestern region of the United States. Each student in the sample was classified according to class standing (freshman, sophomore, junior, or senior) and body art category (body piercings only, tattoos only, both tattoos and body piercings, no body art).

Use the data in the accompanying table to determine if there is evidence that there is an association between class standing and response to the body art question. Assume that it is reasonable to regard the sample of students as representative of the students at this university. Use

α = 0.01.

Calculate the test statistic. (Round your answer to two decimal places.)
χ² = __

What is the P-value for the test? (Round your answer to four decimal places.)
P-value = __

2. Cholati is a foreign corporation that produces fine chocolates for sale worldwide. Cholati markets it chocolates in the United States through a U.S. limited liability company that is treated as a disregarded entity for U.S. tax purposes. The hybrid branch operates a sales office located in New York City. During the current year, Cholati’s effectively connected earnings and profits are $3 million, and its U.S. net equity is $6 million at the beginning of the year, and $4 million at the end of the year. In addition, a review of Cholati’s interest expense account indicates that it paid $440,000 of portfolio interest to an unrelated foreign corporation, $200,000 of interest to a foreign corporation which owns 15% of the combined voting power of Cholati’s stock and $160,000 of interest to a domestic corporation. Assume that Cholati does not reside in a treaty country.

a) Compute Cholati’s branch profits tax, and then complete Section III, Part I, Form 1120-F, page 5, lines 3-6.

b) Determine Cholati’s branch interest withholding tax obligations.

A statistical program is recommended.

A certain company produces and sells frozen pizzas to public schools throughout the eastern United States. Using a very aggressive marketing strategy, they have been able to increase their annual revenue by approximately $10 million over the past 10 years. But increased competition has slowed their growth rate in the past few years. The annual revenue, in millions of dollars, for the previous 10 years is shown.

(b)

Using Minitab or Excel, develop a quadratic trend equation that can be used to forecast revenue (in millions of dollars). (Round your numerical values to three decimal places.)

T_t =

(c)

Using the trend equation developed in part (b), forecast revenue (in millions of dollars) in year 11. (Round your answer to two decimal places.)

$  million

This is my 3rd time posting this question, first time was wrong:

The Zagat Restaurant Survey provides food, decor, and service ratings for some of the top restaurants across the United States. For 18 restaurants located in a certain city, the average price of a dinner, including one drink and tip, was $48.60. You are leaving on a business trip to this city and will eat dinner at three of these restaurants. Your company will reimburse you for a maximum of $50 per dinner. Business associates familiar with these restaurants have told you that the meal cost at one-third of these restaurants will exceed $50. Suppose that you randomly select three of these restaurants for dinner. (Round your answers to four decimal places.)

(a)What is the probability that none of the meals will exceed the cost covered by your company?

(b)What is the probability that one of the meals will exceed the cost covered by your company?

(c)What is the probability that two of the meals will exceed the cost covered by your company?

(d)What is the probability that all three of the meals will exceed the cost covered by your company?

Voter Turnout. Minnesota had the highest turnout rate of any state for the 2016 presidential election. (United States Election Project website) Political analysts wonder if turnout in rural Minnesota was higher than turnout in the urban areas of the state. A sample shows that 663 of 884 registered voters from rural Minnesota voted in the 2016 presidential election, while 414 out of 575 registered voters from urban Minnesota voted.

1. Formulate the null and alternative hypotheses that can be used to test whether registered voters in rural Minnesota were more likely than registered voters in urban Minnesota to vote in the 2016 presidential election.
2. What is the proportion of sampled registered voters in rural Minnesota that voted in the 2016 presidential election?
3. What is the proportion of sampled registered voters in urban Minnesota that voted in the 2016 presidential election?
4. At α = 0.05, test the political analysts' hypothesis. What is the p-value and what conclusion do you draw from your results?

3. Suppose that you are working for a watch company studying the average wrist sizes of people in the population of the United States.

(a) If you are told that we know from previous studies that the standard deviation in women’s wrist sizes is 0.5 inches, and from a random sample of 20 women, the sample mean wrist size was 7.2 inches, create a 95% confidence interval for the true mean wrist size.

(b) Your boss comes back and tells you that they found out that the sample actually had 30 women, but everything else was correct. Create a new 95% confidence interval based on this information.

(c) Your boss comes back and tells you that they made a mistake and the 0.5 inch standard deviation was actually just the sample standard deviation and we don’t know the true value. In addition, it turns out there were only 10 women in the study. After calming down, create a new 95% confidence interval based on this information.