On January 1, 2016, a corporation had 10,380 shares of common stock outstanding, and on June 1, it reacquired 6,000 shares. Despite a net loss for the year of $180,000, the company declared and paid cash dividends of $24,000 and $28,000 on common and preferred stock, respectively. What was the earnings per share for 2016?
A. ($33.72)
B. ($30.23)
C. ($22.10)
D. ($18.60)
Answer: B
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The ________ area of the marketing mix includes decisions related to telling the target market or others in the channel of distribution about the "right" product.
A. Price B. Place C. Product D. Promotion E. Communication
Peter Pontificator is proposing to purchase a paddle machine, which will cost $1 million, last eight years and have a salvage value of 20%. Given a tax rate of 35%, and a cost of capital of 6%: If double-declining balance depreciation is used, and PP switches to straight-line depreciation in year 6, the present value of the depreciation tax shield is:
A. $287,506 B. $230,005 C. $286,513 D. $229,211 E. none of the above
Trey Morgan is an employee who is paid monthly. For the month of January of the current year, he earned a total of $4,538. The FICA tax for social security is 6.2% of the first $127,200 earned each calendar year, and the FICA tax rate for Medicare is 1.45% of all earnings for both the employee and the employer. The amount of federal income tax withheld from his earnings was $680.70. What is the total amount of taxes withheld from the Trey's earnings?
A. $1,027.86 B. $1,375.02 C. $962.06 D. $746.50 E. $680.70
Sharpe's measure of portfolio performance compares the risk premium on a portfolio to
A) a broad-based market index such as the S&P 500 index. B) the portfolio's standard deviation of return. C) the portfolio's beta. D) the prevailing risk-free rate of return.