Lotta Dough just won the state lottery and has elected to receive $50,000 per year for 20 years in

the form of an annuity due. What is the present value of this stream of payments if money can
earn 10 percent annual interest?

A) $864,642 B) $468,246 C) $500,000 D) $246,468


B

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For the current year, Eastern Atlantic Company reported income tax expense of $21,000 . Income taxes payable at the end of the prior year were $19,000 and at the end of the current year were $20,000 . The deferred tax liability classified as noncurrent that resulted from the use of MACRS for tax purposes and straight-line depreciation for financial reporting purposes increased from $21,000 at the

beginning of the current year to $23,000 at the end of the current year. How much cash was paid for income taxes during the year? a. $18,000 b. $20,000 c. $21,000 d. $19,000

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The most dominant transportation mode for international freight is ______.

A. air B. water C. truck D. rail

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John D. Rockefeller's oil business was the main reason which legislation was enacted?

a. Sherman Act b. Robinson-Patman Act c. Clayton Act d. Chicago School Act

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Net operating working capital is defined as operating current assets minus operating current liabilities..

Answer the following statement true (T) or false (F)

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