Calculate the assessed value and the property tax due on the following properties.
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EBK CONTEMPORARY MATHEMATICS FOR BUSINE
- The amount paid by the insured for the protection provided is _________________. a. Face value b. Premium c. Policy d. Coveragearrow_forwardwithdrawing $10 every week from an outstanding balance $400arrow_forwardCalculate the assessed value ( in $) and the property tax (in$) on the property. Fair market value : $296,000 Assessed rate : 80 Property tax rate : $25.80 per $1000 What is the assessed value ? What is the property tax due?arrow_forward
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- Calculate the assessed value ( in$) and the property tax due (in$) on the property. Fair market value- $195,000 Assessment rate - 100 Property tax rate - $1.20 per $100 What is the assessed value ? What is the property tax due?arrow_forwardA machine costing RM100 000 depreciates RM10 000 for the first year,RM9 000 for the second year ,RM8 000 for third year and so on until its annual depreciation is zero. 1 a. What is the depreciation for the seventh year? Type your answer.. 2 b. What is the accumulated depreciation at the end of seven years? Type your answer.arrow_forwardCalculate the amount of corporate income tax due and the net income after taxes (in $) for the corporation. (Assume the corporate tax rate is 21%.) Taxable Tax Net Income Name Income Liability after Taxes Corporation 3 $15,650,000 $ 12,363,500arrow_forward
- Calculate the Social Security and Medicare deductions for the following employee (assume a tax rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare): (Round your answers to the nearest cent.) Employee Cumulative earnings before this pay period Pay amount this period Social Security Medicare Logan $128,300 $3,000 Social Security _________ ? Medicare _____________ ?arrow_forwardA man’s wages of $43,600, received $1100 in interest from a savings account and contributed $2800 to a tax deferred retirement plan he was entitled to a personal exemption of $3200 and had deductions totaling $5190 find his gross income adjusted gross income and taxable incomearrow_forwardCalculate the amount of corporate income tax due and the net income after taxes (in $) for the corporation. (Assume the corporate tax rate is 21%.) Name TaxableIncome TaxLiability Net Incomeafter Taxes Corporation 3 $15,850,000arrow_forward
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