If a single taxpayer with a marginal tax rate of 37% has a long-term capital gain, it is taxed at
A. 15%.
B. 0%.
C. 10%.
D. 20%.
Answer: D
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At December 31, 2016, an amount due on December 31, 2017, would be classified as a(n) _______________________ liability
Fill in the blank(s) with correct word
Which of the following is considered a profitability ratio?
a. Earnings per share b. Debt-to-equity ratio c. Acid-test ratio d. Inventory turnover ratio
Optional clause jurisdiction differs from contentious jurisdiction in that, optional clause jurisdiction is ________
A. the requirement that a tribunal must have power over the parties before it may hear a dispute B. the power of the ICJ to give opinions about issues of international law at the request of the United Nations or one of its specialized agencies C. the power of a court to hear a matter that involves a dispute between two or more parties D. a unilateral grant of jurisdiction by a state to the ICJ that allows the Court to resolve disputes involving that state
The following data are pulled from a recent Walsh Manufacturing annual report
Assets Raw material inventory $120,000 Work-in-process inventory $50,000 Finished goods inventory $300,000 Property, plant & equipment $500,000 Other assets $200,000 Total assets $1,170,000 Condensed Income Statement Revenue $2,000,000 Cost of goods sold $600,000 Other expenses $1,000,000 Net income $400,000 Calculate: (a) Percent invested in inventory, (b) Inventory turnover, and (c) Weeks of supply.