A company purchased a special purpose machine on September 15 of the past year, and it was installed and ready to run on January 1 of this year. The following costs were incurred in the purchase and installation of the machine. Determine the total cost of the machine.Invoice price plus sales tax$1,270,500Freight costs9,000Setup costs51,000Costs to adjust machine to appropriate specifications36,000Electrical connections 32,000Maintenance supplies for future use108,000Traffic fine incurred during transport of machine300Cost of special foundation for machine 18,500
What will be an ideal response?
| Total machine cost: | ? |
| Invoice price including sales tax | $1,270,500 |
| Freight costs | 9,000 |
| Setup costs | 51,000 |
| Electrical connections | 32,000 |
| Adjustment costs | 36,000 |
| Special foundation | 18,500 |
| Total | $1,417,000 |
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During 2019, Addison, a single taxpayer, has the following gains and losses: LTCG$10,000 LTCL3,000 STCG2,000 STCL7,000 ? a.How much is Addison’s tax liability if she has taxable income of $24,000 andis in the 12% tax bracket?b.How much is her tax liability if her taxable income is $188,000 and her tax bracket is 32% (not 12%)?
What will be an ideal response?
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Answer the following statement true (T) or false (F)