Suppose that the Earned Income Tax Credit is set up so that a maximum payment of $3,000 can be earned when a qualified worker earns $10,000. This payment represents a subsidy of 30 cents for each additional dollar earned up to $10,000.

Workers earning between $10,000 and $14,000 are eligible for the maximum payment. Once labor market earnings exceed $14,000, additional earnings reduce the subsidy by 45 cents for each dollar earned.

The going wage rate is $10 per hour.

Will a person working between working less than 1000 hours in the labor market experience an income effect, a substitution effect, or both as a result of the EITC?

Business Plan

I have chosen the mortgage industry with my main company being Quicken Loans. For my market domain I will be focusing on mortgage origination and servicing. The main reason I selected this market is I have been employed with a mortgage servicing company for the last 8 years and have gained significant knowledge operationally of how important this industry is to all customers. I am looking forward to evaluating this market and gaining additional knowledge in this industry. I have seen the progression from the crash of the mortgage industry in 2006 where it clearly showed how important it is as it almost pushed the U.S. economy into a recession. The mortgage industry has a long history of highs and lows and I believe I will be able to accurately identify SOWT within this industry. With an ever-changing world the mortgage industry has to continue to shift and balance revenue opportunities vs. regulatory compliance directives.

While doing my research I will be using resources such as S&P Global Ratings Research, Harvard Business, Housing Wire, FITCH rating agency data, US News, etc. I believe the challenges I will face with researching this market is the enormous amount of news reports and data that do not fully represent the facts accurately. I also believe due to this being such a large market and the amount of change that has occurred good and bad there is a lot of data to work through. A main focus within this market I will be using is going to be digital transformation and how Quicken loans has embraced this with their consumer base to not only increase productivity, but also provide an easier streamlined approach for consumers. The world is now different and the majority of people use cell phones, electronic funds transfer, online accounts, etc. Quicken loans is using this technology to enhance the consumer experience.

As part of researching the mortgage industry and Quicken Loans I will also be discussing companies who were not as fortunate and made mistakes which led to their ultimate closing such as Thornburg Mortgage LLC who was effected by the subprime mortgage crisis in 2007 which forced them to file chapter 11 bankruptcy in 2009 and lead to multiple investigations of the founders.

Question: Please provide substantive feedback on the above market domain selection. Please also provide references if used

The economist Jeffrey Sachs argues that specific and achievable goals help to develop more effective policy reforms. As an example, he quotes President John F. Kennedy who gave the commencement address at American University in 1963. In that speech, Kennedy said: “By defining our goal more clearly, by making it seem more manageable and less remote, we can help all people to see it, to draw hope from it and to move irresistibly towards it.” Kennedy meant the Limited Nuclear Test Ban Treaty needed to have specific and achievable goals to be effective, and Sachs means that the clarity of the Sustainable Development Goals (SDGs) can help achieve policy reform. How would you use the same idea of specific and achievable goals to think about changes in policy or society in relation to sustainability? Specifically,

1. Justify the relevance of Kennedy’s statement with respect to the UN SDGs with specific references to the role of governments and private corporations.

2. Identify two of the SDGs that you consider important (as they relate to either your local community or to your core values). With the two selected SDGs, evaluate the interdependence of those goals while considering how the funding needs and action plans for the goals are interconnected.

Ex 7. Michael and Greg share an apartment 10 miles from campus. Michael thinks that the fastest way to get to campus is to drive the shortest route, which involves taking several side streets. Greg thinks the fastest way is to take the route with the highest speed limits, which involves taking the highway most of the way but is two miles longer than Michael’s route. You recruit 50 college friends who are willing to take either route and time themselves. After compiling all the results, you found that the travel time for Michael’s route follows a Normal distribution with a mean equal to 30 minutes and a standard deviation equal to 5 minutes. Greg’s route follows a Normal distribution with a mean equal to 26 minutes and a standard deviation of 9.5 minutes. 1)Which route is faster and why? 2)Which route is more reliable and why? 3) Suppose that you leaving home headed for a University exam. Obviously, you don’t want to be late. You are leaving home at 5:15 and the exam is at 6:00 PM. Which route would you take to avoid being late and why? Show your calculations.

Question 1: Income under ordinary concepts

Hemi is a design student and a well-known Wellington street artist. In 2015, he started a “vlog”, commenting on videos of himself painting murals around the city. Fashion stores often sent Hemi clothes and sport shoes in the hope that he would wear them in his videos. Occasionally, Hemi received limited edition sneakers which he sold on Trade Me. After he was charged with criminal graffiti in early 2016, Hemi receives a great deal of publicity, and the number of people viewing his vlog soars.

SkateWorld starts sending Hemi a new pair of limited edition sneakers every month. (Each pair is worth at least $500.) Hemi was approached by MediaMega, a firm which specialises in obtaining advertising for websites. He entered into an agreement with MediaMega to place particular products in his videos, and receives a micro-payment for each person who views his vlog. In December 2016, MediaMega paid Hemi for $10,000 for videos-viewed. This met the costs of hosting his webpage ($1,000) that year and gave him some spare money for his fourth year at university. He was looking forward to a bigger cheque from MediaMega in December 2017 as his blog attracted yet more readers.

Required: Explain whether the sneakers Hemi received from SkateWorld and the money he received from MediaMega in December 2016 would be income under section CA 1(2) of the Income Tax Act 2007 (income under ordinary concepts).

Allgood Textiles, Inc. started the year with $200,000 in accumulated earnings and profit. During the year, it earned $75,000 from its business operations, received a $2,000 federal income tax refund, received a $10,000 contribution to capital from its shareholders, paid $13,750 in federal income taxes, and could not deduct $1,000 of its meal expenses. What is the amount of its accumulated earnings and profits at the end of the year?

You have an investment account that started with ​$1 comma 0001,000 1010 years ago and which now has grown to ​$6 comma 0006,000. a. What annual rate of return have you earned​ (you have made no additional contributions to the​ account)? b. If the investment account earns 16 %16% per year from now​ on, what will the​ account's value be 1010 years from​ now?

Since the SUTA rates changes are made at the end of each year and there is much discussion about changes to the FUTA rate, the available 2017 rates were used for FUTA and SUTA.

Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers.

Example 5-1

Parlone Company has paid wages of $4,000 to an employee in State A. During the year, the employee is transferred to State B, which has a $7,000 taxable salary limitation for its state unemployment tax. The company has a credit of $4,000 against this $7,000 limit. Thus, the company has to pay State B's unemployment tax on only the next $3,000 of wages earned by that worker in State B during the remainder of the calendar year.

In April of the current year, Freeman Steel Company transferred Herb Porter from its factory in Nebraska to its plant in Ohio. The company's SUTA tax rates based on its experience ratings are 3.2% in Nebraska and 3.8% in Ohio. Both states base the tax on the first $9,000 of each employee's earnings. This year, Freeman Steel Company paid Herb Porter wages of $19,500; $3,000 were paid in Nebraska and the remainder in Ohio. Compute the following: round your answers to the nearest cent.

a. Amount of SUTA tax the company must pay to Nebraska on Porter's wages
$________

b. Amount of SUTA tax the company must pay to Ohio on Porter's wages
$________

c. Amount of the net FUTA tax on Porter's wages
$_________

Since the SUTA rates changes are made at the end of each year and there is much discussion about changes to the FUTA rate, the available 2018 rates were used for FUTA and SUTA.

Note: For this textbook edition the rate 0.6% was used for the net FUTA tax rate for employers.

Example 5-1

Parlone Company has paid wages of $4,000 to an employee in State A. During the year, the employee is transferred to State B, which has a $7,000 taxable salary limitation for its state unemployment tax. The company has a credit of $4,000 against this $7,000 limit. Thus, the company has to pay State B's unemployment tax on only the next $3,000 of wages earned by that worker in State B during the remainder of the calendar year.

In April of the current year, Freeman Steel Company transferred Herb Porter from its factory in Nebraska to its plant in Michigan. The company's SUTA tax rates based on its experience ratings are 3.2% in Nebraska and 3.8% in Michigan. Both states base the tax on the first $9,000 of each employee's earnings. This year, Freeman Steel Company paid Herb Porter wages of $20,900; $2,800 were paid in Nebraska and the remainder in Michigan. Compute the following:

Round your answers to the nearest cent.

a. Amount of SUTA tax the company must pay to Nebraska on Porter's wages
$

b. Amount of SUTA tax the company must pay to Michigan on Porter's wages
$

c. Amount of the net FUTA tax on Porter's wages
$

PLEASE GIVE ANSWER QUICKLY!

Sailors Incorporation. a freight forwarder, a well-established company. The owner of the company Jack is interested in drawing certain figures regarding the performance of the company.
The following accounts and their balances were extracted of the Sailors Inc., a freight forwarder, at December 31, 2009 the end of current fiscal year:
Rs.
3% cumulative preferred stock, Rs.100 par value 15, 00,000
Paid in capital in excess of par (preferred stock) 1, 80,000
Common stock Rs.10 par 6, 75,000
Paid in capital in excess of par (common stock) 1, 25,000
Retained earnings 21, 06,500
There are 5, 00,000 shares authorized for common stock 67,500 shares issued ,and 50,000 shares authorized for cumulative preferred stock 15, 000 shares issued.

Required:
Use the above information to answer questions from (a) to (e). Follow all the steps for calculation
a) If company declared total cash dividend of $70,000. Calculate dividend per share of preferred stock as well as common stock
b) If company declared stock dividend of 10% when market value was Rs. 12. Calculate total monetary value of such dividend.
c) If company earned net income of Rs.5, 00,000. Calculate EPS.
d) Prepare stock holders equity section of balance sheet December 31, 2009.
e) Calculate Book value/share of common stock. Company did not declare dividend for 1 full year