1) Explain by using examples why innovation is becoming
increasingly important in today's business world

2.1 Advice to Ernst & Young (EY) Executives: To approach and remedy the scandal of corruption, bribery, and fraudulent financial reporting,

I would advise the executives at EY to take the following actions:

1. Strengthen Internal Controls: Implement robust internal control systems that include checks and balances, segregation of duties, and regular audits to detect and prevent fraudulent activities. EY should ensure that these controls are consistently followed across all levels of the organization.

2. Enhance Ethical Culture: Foster an ethical culture within the organization by promoting transparency, integrity, and accountability. This can be achieved through ethics training programs, whistleblower mechanisms, and a strong code of conduct that clearly outlines expected behaviors and consequences for non-compliance.

3. Conduct Independent Investigations: Engage independent third-party firms or experts to conduct thorough investigations into the scandal. This demonstrates EY's commitment to uncovering the truth and holding individuals accountable for their actions.

4. Implement Stringent Anti-Corruption Measures: Develop and enforce policies and procedures to prevent corruption and bribery. This includes conducting due diligence on clients and business partners, implementing anti-bribery compliance programs, and strictly adhering to relevant laws and regulations.

5. Collaborate with Regulatory Bodies: Cooperate fully with regulatory bodies and law enforcement agencies to ensure compliance with legal requirements. EY should actively participate in investigations and share any relevant information to assist in the resolution of the scandal.

Practical Example: EY can take inspiration from the Siemens case, where the company implemented comprehensive reforms following a major corruption scandal. Siemens established a dedicated compliance department, enhanced training and awareness programs, and appointed an independent ombudsman to address ethical concerns. These measures helped rebuild trust and restore the company's reputation.

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In order to determine the cost of external equity, the following formula is used Cost of external equity:

Re = (D1 / (P0 - F)) + g

where,

D1 = expected dividend = $2.75P0 = the market price of the stock = $30F = flotation cost = 16% of $30 = $4.8g = growth rate of dividends = 6%

Substitute the given values in the above formula,

Re = ($2.75 / ($30 - $4.8)) + 6%Re = ($2.75 / $25.2) + 6%Re = 10.9127%

Rounded off to two decimal places,

Re = 10.91%

the cost of external equity is 10.91%.

Explanation:

: Re = (D1 / (P0 - F)) + g

Here,

D1 is the expected dividend and g is the growth rate of dividends.

P0 is the market price of the stock and F is the flotation cost.

The given values are:D1 = $2.75P0 = $30F = 16% of $30 = $4.8g = 6%

Substituting the values in the formula,

Re = ($2.75 / ($30 - $4.8)) + 6%Re = ($2.75 / $25.2) + 6%Re = 10.9127%

Rounded off to two decimal places,

Re = 10.91%.

the cost of external equity is 10.91%.

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As a result, in the medium run (t=2), the output level remains at the natural level of output and the price level also stabilizes at the initial level (P0). Thus, the economy returns to its equilibrium state in the medium run.

a) Plot the AS-AD curves at t=0. Be sure to label properly these curves and all the relevant variables. You can label the curves as AS 0​ and AD 0​ respectively.

At time t=0, output exceeds the natural level of output.

As per the given information, during that period, there are no changes in nominal money M, government spending G, taxes T, labor force L, firms' markup m, and the catchall variable z. Hence, there will be no change in the natural level of output.

We can plot the AS-AD diagram as follows:

b) In a new graph, plot the AS-AD curves both at t=0 and at t=1. At time t=1, output is below the natural level of output.

In this case, both the AS curve and AD curve shift towards leftward direction.

The new AS-AD diagram is as follows:

c)

In the same graph of part b), show the adjustment of output and the price level over time. You can assume that the economy returns to the natural level of output at t=2

Assuming that the economy returns to the natural level of output at t=2, the adjustment of output and price level over time can be shown in the graph as follows:

We can observe from the graph that initially, the output level is higher than the natural level of output (Y1 > Yn). As a result, the price level increases from P0 to P1.

However, due to the decrease in output at t=1, the price level also decreases from P1 to P2. Over time, the economy moves towards the natural level of output (Yn).

As a result, the price level decreases from P2 to P0d)

Explain the transition from the short run (t=0) to the medium run (t=2).Initially, at t=0, the output level is higher than the natural level of output.

Due to the higher output level, the price level also increases.

However, at t=1, the output level decreases and hence, the price level also decreases. Over time, the economy moves towards the natural level of output (Yn).

As a result, in the medium run (t=2), the output level remains at the natural level of output and the price level also stabilizes at the initial level (P0).

Thus, the economy returns to its equilibrium state in the medium run.

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Businesses can raise their average product by investing in new equipment, by reorganizing work to be more efficient, or by improving their employees' skills and knowledge.

Investing in new equipment can lead to increased productivity and efficiency. By replacing outdated or inefficient machinery with advanced technology, businesses can streamline their operations, reduce downtime, and enhance output quality and quantity. This investment can result in a higher average product by enabling the production process to be more effective and efficient.

Reorganizing work to be more efficient involves optimizing workflows, eliminating bottlenecks, and improving coordination among employees and departments. By analyzing and redesigning work processes, businesses can eliminate unnecessary steps, minimize waste, and enhance productivity. This can lead to an increase in the average product as employees can accomplish more in less time, maximizing their output.

Furthermore, businesses can raise their average product by focusing on enhancing the skills and knowledge of their employees. Offering training programs, workshops, or educational opportunities can empower employees to acquire new competencies and stay updated with industry trends. This investment in human capital can result in improved productivity, higher-quality outputs, and innovative problem-solving, ultimately leading to an increase in the average product.

By combining these strategies - investing in new equipment, reorganizing work processes, and improving employees' skills and knowledge - businesses can optimize their operations and achieve a higher average product, driving growth and success.

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Suppose that a risk-free investment will make three future payments of $100 in 1 year, $100 in 2 years, and $100 in 3 years.

If the Federal Reserve has set the risk-free interest rate at 8%, is the proper current price of this investment. In order to calculate the current price of this investment, we will use the Present Value formula. The Present Value (PV) of the investment can be calculated as:

The proper current price of this investment is $257.70. b. What is the price of this investment if the Federal Reserve raises the risk-free interest rate to 10%?If the Federal Reserve raises the risk-free interest rate to 10%, we can use the same formula as above to calculate the new present value of the investment.

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Taylor's principles of scientific management involve scientific analysis of work processes, careful selection and training of employees, fostering a cooperative environment.

Taylor's four principles of scientific management can be summarized as follows: Scientifically study and analyze work: The first principle emphasizes the need to scientifically examine and analyze work processes to identify the most efficient methods. This involves breaking down tasks into smaller elements, studying each element, and determining the most effective ways to perform them. Select and train employees: The second principle focuses on selecting the right employees for specific tasks and training them to perform their work using the scientifically developed methods. Taylor believed that workers should be matched to their jobs based on their abilities and skills.

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Subject: As we continue to navigate through the Covid pandemic, the management team has made the decision to adopt a hybrid model for our company's operations.

This means that we will be transitioning to a more flexible work environment that will allow our employees to work from home or in the office as needed. Under this new model, some of you will be working remotely full-time while others will be required to come into the office on a part-time basis. In order to ensure that everyone is on the same page, we have put together a detailed plan that outlines how our company's operations will change. Here are some of the key points that you need to be aware of;

• All employees will be given the option to work from home or in the office depending on their role and responsibilities.

• Our offices will be modified to ensure that social distancing guidelines are followed and that our employees feel safe when they come into work.

• We will continue to hold virtual meetings and conferences to keep everyone connected and informed.

• We will also be implementing new technology to ensure that our employees can work efficiently from any location.

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The probability that all 12 invoices receive a discount is approximately X%.

To calculate the probability, we can use the binomial distribution formula. Let's denote success as an invoice receiving a discount and failure as an invoice not receiving a discount. The probability of success (p) is 0.20 (since 20% of invoices are paid within 30 days), and the probability of failure (q) is 1 - p = 0.80.Using the binomial distribution formula: P(X = k) = C(n, k) * p^k * q^(n-k). where n is the total number of trials (12 invoices) and k is the number of successful trials (12 invoices receiving a discount), we can calculate the probability of all 12 invoices receiving a discount:

P(X = 12) = C(12, 12) * 0.20^12 * 0.80^(12-12). (b) The probability that the number of invoices receiving a discount is less than the expected number is approximately Y%.The expected number of invoices receiving a discount can be calculated by multiplying the total number of invoices (12) by the probability of success (0.20):Expected number = 12 * 0.20.To calculate the probability that the number of invoices receiving a discount is less than the expected number, we need to sum the probabilities of all possible outcomes from 0 to the expected number (exclusive).

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To purchase a house valued at [tex]$535,000[/tex]with a [tex]$204,000[/tex]down payment and a 30-year (360 months) fixed-rate mortgage at 4%, we need to calculate the monthly payment.

Let P be the principal amount, r be the monthly interest rate, and n be the number of monthly payments.

[tex]n = 30 years * 12 months/year = 360r = 4%/12 = 0.00333P = $535,000 - $204,000 = $331,000[/tex]

Using the formula for a fixed-rate mortgage, we have:

[tex]Monthly payment = (P * r) / (1 - (1 + r)^(-n))= ($331,000 * 0.00333) / (1 - (1 + 0.00333)^(-360))= $1,575.53[/tex]

Thus, the amount of your monthly payment starting next month is $1,576 (rounded to the nearest dollar).

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BLJ say that cash differs from open-loop and closed-loop payments systems in which of the following ways According to BLJ, cash differs from open-loop and closed-loop payments systems in the following ways:It can be used anonymously.

Neither the payer nor the payee needs an account with a provider.It is not subject to a set of rules written by a third party.Thus, the correct answer is A. 1 and 2. More than 100 words:Cash is a physical payment medium that can be used to settle transactions, and it is issued by the government. It is one of the most important and long-lasting financial instruments, and it has certain qualities that distinguish it from other types of payments systems.Cash differs from open-loop and closed-loop payments systems in the following ways

:1. Cash can be used anonymously.Cash is a tool for anonymous transactions, as it does not have any unique identifying features. As a result, it is frequently used for illegal transactions because it is difficult to track. It's also utilized by people who value privacy and wish to avoid being tracked by financial institutions.

2. Neither the payer nor the payee needs an account with a provider.One of the most appealing aspects of cash is that neither the payer nor the payee requires an account with a financial institution. This reduces the need for banks or other financial intermediaries to become involved in transactions. Furthermore, it makes it possible for individuals who do not have access to banking services to conduct transactions.

3. It is not subject to a set of rules written by a third party.Cash is a payment medium that is not subject to any third-party regulations. It is an alternative to other payment systems that require the involvement of intermediaries such as banks, credit card companies, and other financial institutions. As a result, cash transactions are not subject to the same fees and other costs associated with these intermediaries.

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If the Federal Reserve decides to make a small, one-time increase in the money supply:
- Interest rates are likely to decrease.
- Bond prices are likely to increase.

The market interest rates and bond prices are likely to change in the following way if the Federal Reserve decides to make a small, one-time increase in the money supply:

1. Interest rates:
When the Federal Reserve increases the money supply, it usually aims to stimulate economic activity and encourage borrowing and spending. As a result, the increase in the money supply could lead to a decrease in interest rates. This is because there is more money available for borrowing, which increases the supply of loanable funds. With an increased supply of funds, lenders may lower interest rates to attract borrowers. Therefore, in this scenario, interest rates are most likely to decrease.

2. Bond prices:
When interest rates decrease, the price of existing bonds tends to increase. This is because bond prices and interest rates have an inverse relationship. When interest rates go down, the fixed interest payments offered by existing bonds become more attractive compared to the lower rates in the market. Consequently, investors are willing to pay more for these bonds, driving up their prices. Therefore, in this scenario, bond prices are most likely to increase.

To summarize:
If the Federal Reserve decides to make a small, one-time increase in the money supply:
- Interest rates are likely to decrease.
- Bond prices are likely to increase.

It's important to note that while this is the general trend, the relationship between interest rates, bond prices, and the money supply is complex and can be influenced by various economic factors.

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Neda runs a stock market consultancy firm where she advises clients on investing and maximizing profits. Through her firm, she provides valuable guidance on where to invest and how to earn maximum profits.

Neda's role: Neda is the owner or manager of a stock market consultancy firm. Her firm specializes in providing advice and guidance to clients on investing in the stock market.Client advisory services: Neda's firm offers advisory services to clients who are seeking guidance on where to invest their money. This means that Neda and her team analyze market trends, assess risks, and identify potential investment opportunities for their clients.

Expertise and knowledge: Neda and her team have expertise and knowledge in the stock market. They stay updated on market trends, financial news, and economic factors that can impact investments. This allows them to provide valuable insights and recommendations to their clients.Overall, Neda's stock market consultancy firm provides clients with expert advice on investing and helps them maximize their profits. This guidance is valuable for individuals looking to navigate the complex world of the stock market.

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The cost of preferred equity refers to the return required by investors who invest in the preferred shares of the firm. The cost of preferred equity, which is the dividend yield, is computed by dividing the annual dividend by the market price of a single share of the preferred stock.

In this case, the preferred stock of the firm is selling for [tex]$50[/tex], and the dividends on the preferred stock are [tex]$5[/tex] per share. Thus, the cost of preferred equity is given as:

Cost of Preferred Equity = Annual Dividend / Market Price of a Share of Preferred

[tex]Stock Cost of Preferred Equity = $5 / $50[/tex]

[tex]= 0.1 or 10%[/tex]

Therefore, the cost of preferred equity for the firm is [tex]10%[/tex].

Note: Preferred stock is a form of equity financing, and the cost of preferred equity is considered to be a fixed cost since the dividend payment on preferred shares is usually fixed.

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John Maynard Keynes (1883-1946) was an English economist who is regarded as one of the most important economists of the 20th century. Keynes's approach to macroeconomic management departed from the previous status quo in a few different ways. Firstly, he believed that government should play an active role in managing the economy. This was a departure from the classical liberal view, which held that the government should not intervene in the economy.

Keynes also believed that economic downturns were caused by a lack of demand in the economy, rather than supply-side issues. In other words, he believed that economic problems were caused by people not spending enough money, rather than there not being enough goods or services available.

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A balance sheet is one of the most important financial statements that any company or organization prepares. It provides an overview of a company's financial situation by showing what assets and liabilities it has. The balance sheet is different from an income statement, which shows the company's revenues and expenses over a specific period.

The balance sheet equation is Assets = Liabilities + Equity. This means that a company's assets must equal its liabilities plus equity.

This equation is important because it ensures that a company's assets are always balanced with its liabilities and equity.

The income statement equation is Revenues - Expenses = Net Income.

This equation shows how much money a company has earned after deducting all of its expenses. Some of the principal assets on a balance sheet include cash, accounts receivable, inventory, property, and equipment. Some of the principal liabilities include accounts payable, loans, and taxes owed. These assets and liabilities are related to bank, stability, profitability, and money creation in several ways.

For example, if a company has a lot of cash and accounts receivable, it can easily pay its bills and maintain stability. Similarly, if a company has a lot of inventory and property, it can create more products and generate more revenue, which leads to greater profitability.

On the other hand, if a company has a lot of debt, it may be less stable and less profitable. Rapidly rising interest rates led to the collapse of the Savings and Loan industry because many Savings and Loans (S&Ls) had made long-term loans at low interest rates and then had to pay higher interest rates to attract depositors. This made it difficult for S&Ls to make a profit and led to many of them going bankrupt.

Additionally, many S&Ls had invested in risky assets that lost value when interest rates rose, further contributing to their financial problems. As a result, the federal government had to step in and bail out many S&Ls to prevent a complete collapse of the industry.

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The government can restore the original equilibrium output, by; Lowering taxes, Increasing government spending, Lowering interest rates and Implementing policies that improve investor confidence.

After a negative confidence shock, the government can restore the original equilibrium output in the following ways:

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Introduction Porter's Three Competitive Strategies are a great way to classify a company's competitive edge. They are called cost leadership, differentiation, and focus. Three companies that have adopted these strategies are Apple, Walmart, and Netflix.

Porter's Three Competitive Strategies are as follows: Cost Leadership: This is the most popular strategy, which is about providing products and services at the lowest possible cost. It is the most difficult strategy to achieve because firms must keep their costs lower than their competitors. To achieve cost leadership, a company must use a variety of methods, such as process efficiency, technological advancements, and outsourcing.

Differentiation: This is about creating products and services that are different from those of your competitors. Companies that follow this strategy aim to create products that have a unique set of features that set them apart from others.

Focus: Focus is about targeting a niche market. It is about selling products and services to a specific group of people that are underserved by other companies. Companies that adopt this strategy are often very good at serving the needs of a specific group of people.  

Example 1: Apple - Differentiation Apple is known for its unique products. Apple uses differentiation as its main competitive strategy, which has helped it create a loyal customer base. Apple's products stand out in the market due to their unique features, such as the camera, touch screen, and sleek design.

Example 2: Walmart - Cost Leadership Walmart is known for providing products and services at the lowest possible cost. Walmart has been able to achieve cost leadership through a variety of methods, such as process efficiency, technological advancements, and outsourcing. Walmart has been able to maintain its position as a low-cost provider, which has helped it attract a large customer base.

Example 3: Netflix - Focus Netflix is known for its streaming service. Netflix has been able to achieve success by focusing on a niche market. Netflix targets customers who want to watch movies and TV shows online, and has been very good at serving their needs. Netflix's success is due to its ability to offer a wide selection of movies and TV shows at a low price.

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In Irving Fisher's quantity theory of money, the velocity of money was determined by the institutions in an economy that affect individuals' transactions.

Irving Fisher's quantity theory of money is a classical economic theory. It is based on the idea that the general price level of goods and services is directly proportional to the amount of money in circulation.

This theory has a famous equation of exchange, which is M * V = P * T, where M represents the money supply, V represents the velocity of money, P represents the price level, and T represents the total quantity of goods and services bought and sold in an economy.

In this theory, the velocity of money is the number of times that a dollar is spent in a year. It is determined by the institutions in an economy that affect individuals' transactions.

Irving Fisher's quantity theory of money was developed in the early twentieth century. It is a classical economic theory that is based on the idea that the general price level of goods and services is directly proportional to the amount of money in circulation.

This theory has a famous equation of exchange, which is M * V = P * T, where M represents the money supply, V represents the velocity of money, P represents the price level, and T represents the total quantity of goods and services bought and sold in an economy.

According to this theory, the velocity of money is the number of times that a dollar is spent in a year. It is a measure of the rate at which money circulates in an economy. The higher the velocity of money, the more quickly money is changing hands, and the faster the economy is growing.

The velocity of money is determined by the institutions in an economy that affect individuals' transactions. These institutions include the banking system, financial markets, and other financial intermediaries. They affect how quickly money is transferred between buyers and sellers, and how easily transactions can be made.

Overall, Irving Fisher's quantity theory of money is an important contribution to the field of economics. It provides a framework for understanding the relationship between money and prices, and the role that institutions play in determining the velocity of money.

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15% increase is needed for Ben's investment account to return to its previous value.

To find the percent increase needed, we will calculate the percentage of the original value that was lost and then determine the percentage increase required to make up for it.

The amount lost from the original value is 15% of $15,000, which is:

= 0.15 * $15,000

= $2,250.

To return to the original value, the investment account needs to increase by $2,250. To get percentage increase needed, we divide the increase by the original value and multiply by 100:

Percentage increase = ($2,250 / $15,000) * 100 = 15%.

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16.  Payment at the end of the first quarter

= Notional principal × (LIBOR-90 + Quoted margin - Fixed rate) × (Actual days in quarter / 360) = $10,000,000 × (3.0% + 2.0% - 5.0%) × (90 / 360) = $50,000

Payment at the end of the second quarter

= Notional principal × (LIBOR-90 + Quoted margin - Fixed rate) × (Actual days in quarter / 360) = $10,000,000 × (3.0% + 2.0% - 5.0%) × (91 / 360) = $50,000

Thus, there is no settlement payment at the end of the third quarter.

Hence, option A is correct.

17. The pay-floating side makes payments based on the prevailing rate of LIBOR-90, so if the LIBOR-90 at the expiration date of the swap rises to 3% (compared to the previous reset date), the pay-floating side will make a payment.

Therefore, option A is correct.

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Based on the facts provided, it is not possible to estimate the final balance for retained earnings.

A company's lifetime net income or loss is reflected in retained profits, a metric that is adjusted for dividends and other payouts to shareholders. We would also need information on the beginning balance of retained earnings, net income or loss for the year, and any dividends declared or paid throughout the year in order to calculate the ending balance of retained earnings. The ending balance of retained earnings cannot be calculated with accuracy without this information.

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Introduction: A company is a group of individuals with shared objectives who perform tasks together. There are four fundamental principles of administration: planning, organizing, leading, and controlling.

The organization's framework is defined and implemented through these principles, ensuring that the objectives are accomplished. The following essay will outline an organizational analysis of ABC Corporation.

ABC Corporation is a technology-driven firm specializing in creating custom software solutions for businesses of all sizes. ABC Corporation is devoted to the highest level of customer satisfaction, quality software, and customer service. With 24-hour customer support, the company guarantees that all clients' issues are resolved promptly and efficiently. The organization's mission is to assist businesses in achieving their goals through the use of cutting-edge technology.

The company has established long-term objectives that will guide it through 2030, such as improved consumer satisfaction, which is reflected in customer surveys, product and service excellence, innovation, and organizational efficiency. The organization is committed to providing the best possible service and expertise to its clients, as well as creating a safe and supportive environment for its employees. The organization's product portfolio includes software development and IT solutions. ABC Corporation is committed to investing in high-tech technology and talent in order to provide the best and most innovative products and services to its clients. The organization recognizes the importance of being current and remaining up-to-date in order to meet client needs and remain competitive. This involves a continuous cycle of research and development, as well as regular product and service upgrades, with the goal of achieving a competitive edge and offering superior services to clients.

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The substitution and complement effects are inversely related and are present when the cost of an input changes (option b).

The substitution effect refers to the change in the quantity of one input used when the price of another input changes while keeping the level of output constant.

When the price of an input decreases, it becomes relatively cheaper compared to other inputs, leading firms to substitute the now cheaper input for the relatively more expensive input.

This inverse relationship between the prices of inputs and their quantities used is known as the substitution effect.

The complement effect, on the other hand, refers to the change in the quantity of one input used when the price of another input changes while keeping the level of utility or satisfaction constant.

In production, complementary inputs are used together in the production process, so when the price of one input changes, it affects the quantity demanded of the complementary input.

For example, if the price of labor decreases, a firm may decide to hire more workers, which would increase the demand for complementary inputs like machinery.

Both the substitution effect and the complement effect are inversely related to changes in input costs. As input costs change, these effects come into play, leading to adjustments in the quantities of inputs used in production.

Therefore, the correct answer is B. The substitution and complement effects.

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To determine the quarterly savings to meet the income requirement during retirement, we need to calculate the future value of the 200,000 retirement account when the person retires. Then, we can use an annuity formula to determine the quarterly savings required to reach a future value that can generate 7,000 per month of retirement income.

Let's start with calculating the future value of the retirement account when the person retires. Here are the steps:Step 1: Determine the number of quarters between now and retirement.In 25 years (from age 42 to 67), there are 100 quarters (25 x 4 quarters per year).Step 2: Calculate the future value of the retirement account when the person retires using the compound interest formula.

[tex]FV = PV x (1 + r/n)^(n*t)[/tex],

Where FV is the future value, PV is the present value, r is the annual interest rate, n is the number of times compounded per year, and t is the number of years.

[tex]FV = 200,000 x (1 + 0.06/4)^(4*100) = 1,496,932.54[/tex]

Step 3: Use an annuity formula to determine the quarterly savings required to reach the future value that can generate 7,000 per month of retirement income. Annuity formula:

[tex]P = (r x PV) / (1 - (1 + r)^(-n)),[/tex]

Where P is the periodic payment, r is the interest rate per period, PV is the present value, and n is the total number of periods.

[tex]P = (7,000 x 12) / (0.0025 x (1 + 0.0025)^(30 x 12) - 1) = 1,132.35[/tex]

The quarterly savings required to meet the income requirement during retirement is:

P/4 = 1,132.35 / 4 = 283.09 Therefore, the person needs to save 283.09 each quarter until retirement to meet the income requirement during retirement.

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Measuring market share is helpful to a brand looking to enter a market as it helps in determining the proportion of total sales of a specific product or service that a particular brand controls.

Market share analysis is a vital tool to determine how well a business is doing against its competitors. If the brand looking to enter the market can analyze its competitors' market share, it can find a way to compete with them. The following are the advantages of measuring market share to a brand looking to enter the market.

Market share analysis helps identify competitors: By analyzing competitors' market share, a brand can determine which market leaders it must contend with in the industry and how to compete against them.Marketing Strategy Development.

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The before-tax operating leasing payment will be the sum of Depreciation payment ($X - $Y) / 240, Interest payment ($X + $Y) x 10% x (1 - 40%) / (Present value factor), Insurance payment ($1,000), Maintenance and operating payment ($2,000), and Salvage value / Present value factor.

As given in the question, we are to determine the before-tax operating leasing payment, so let's start with the calculation.

Airplane cost: $X

Depreciation period: 20 years

The salvage value of the airplane at the end of 20 years: $Y

Insurance cost: $1,000/month

Maintenance and operating costs: $2,000/month

Required rate of return: 10%

Tax rate: 40%

Formula for calculating the operating leasing payment: Operating leasing payment = Depreciation payment + Interest payment + Insurance payment + Maintenance and operating payment + (Salvage value / Present value factor)

Depreciation payment:

Depreciation payment per month = (Cost of the airplane - Salvage value) / (Depreciation period in months)

Depreciation payment per month = ($X - $Y) / (20 x 12)

Depreciation payment per month = ($X - $Y) / 240

Interest payment:

Interest payment per month = (Cost of the airplane + Salvage value) x (Interest rate) x (1 - Tax rate) / (Present value factor)

Interest payment per month = ($X + $Y) x 10% x (1 - 40%) / (Present value factor)

Insurance payment:

Insurance payment per month = $1,000

Maintenance and operating payment:

Maintenance and operating payment per month = $2,000

Adding all these values and solving the equation as per the formula, we get;

Operating leasing payment = Depreciation payment + Interest payment + Insurance payment + Maintenance and operating payment + (Salvage value / Present value factor)

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In order to access the tabs PivotTable Analyze and Design, and the functions they contain, you need to click on the Pivot Table tab on the ribbon.

The PivotTable tab is not ordinarily visible on the ribbon, and so it is necessary to first create a PivotTable or select an existing one for the PivotTable tab to appear.

Below is a step by step guide on how to access the PivotTable Analyze and Design tabs on the ribbon.

Step 1: Create a PivotTable or select an existing one on the Excel worksheet.

Step 2: Click on any cell within the PivotTable.

Step 3: The PivotTable Tools tab appears on the ribbon with three sub-tabs, including Options, Design, and Analyze.

Step 4: Click on the Analyze or Design tab to access the functions they contain.

Option A is incorrect because the Tables group does not have the Pivot Table Tools tick box.

Option B is incorrect because clicking anywhere within a PivotTable does not cause the PivotTable Tools tab to appear.

Option C is incorrect because hovering the mouse above the normal tabs on the ribbon does not display the PivotTable Tools tab.

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Satisfying physiological needs before growth needs is not a step in forming equity perceptions. It is a concept from Maslow's hierarchy of needs, which is a theory of motivation.

The steps in forming equity perceptions are:

Form a perception of how a comparison-other is being treated. This means comparing the inputs and outcomes of the comparison-other to your own inputs and outcomes.

Compare one's own circumstances with those of a comparison-other. This means comparing your own inputs and outcomes to the comparison-other's inputs and outcomes.

Evaluate how one is being treated by an organization. This means evaluating whether you feel that you are being treated fairly by the organization.

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Suppose that the distribution of the 1-year loss is given as:L($ million)   Probability 0.1a) 1-year 70% is defined as the maximum possible loss for a given level of confidence and period of time.

The 70% VaR, therefore, implies that the confidence level is 1-70% = 30%, and the period of time is 1 year.To calculate the 70% VaR, we need to find the maximum loss of the 30% probability:1. Sort the loss and probability values in descending order:Loss ($ million)    Probability

Cumulate the probability values:Loss ($ million)    Probability    Cumulative Probability        1.03. Identify the maximum cumulative probability that is less than or equal to 0.3. From the table above, the maximum cumulative probability is 0.2.4.

The corresponding loss is the 70% VaR: 2 $ million.b) 1-year 70% ES:ES is defined as the average loss of the worst 30% of scenarios.

In order to find the ES, we must first calculate the loss corresponding to the 30th percentile. From the cumulative probability column of the table above, the loss corresponding to the 30th percentile is $0 million.To calculate the ES, we need to average the losses exceeding $0 million.

These are losses for which the probability is 0.4, 0.1, and 0.1.Loss Probability Cumulative Probability -1 0.4 0.4 0 0.1 0.5 1 0.1 0.6 2 0.1 0.7 4 0.1 0.8 The average of these losses is: (-1*0.4+0*0.1+1*0.1+2*0.1+4*0.1)/0.3 = 1.13 $ millionThus, the 1-year 70% ES is 1.13 $ million.c) 1-year 80% VaR:To calculate the 80% VaR, we need to find the maximum loss of the 20% probability.

Using the same steps from part (a), the 80% VaR is the maximum cumulative probability that is less than or equal to 0.2.Loss Probability Cumulative Probability -1 0.4 0.4 0 0.2 0.6 1 0.2 0.8 2 0.1 0.9 4 0.1 1.0The maximum cumulative probability that is less than or equal to 0.2 is 0.6.

Therefore, the corresponding loss is 0 $ million.d) 1-year 80% ES:To calculate the 80% ES, we need to find the average loss of the worst 20% of scenarios. The loss corresponding to the 20th percentile is $0 million. The losses exceeding $0 million correspond to probabilities of 0.2, 0.2, 0.1, and 0.1.Loss Probability Cumulative Probability -1 0.4 0.4 0 0.2 0.6 1 0.2 0.8 2 0.1 0.9 4 0.1 1.0 The average of these losses is: (-1*0.4+1*0.2+2*0.1+4*0.1)/0.2 = 0.6 $ millionThus, the 1-year 80% ES is 0.6 $ million.

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The journal entries to record the issuance of materials for May 7 and May 31 are given below :

Journal entry on May 7:DateAccount Title and ExplanationPRDebitCreditMay 7

Raw Materials310 units × $25 = $7,750

Accounts Payable$7,750(To record the purchase of raw materials on account)Journal entry on May 31:

DateAccount Title and Explanation

PRDebitCreditMay 31Work in Process (Job 200)118 units × $22 = $2,596

Work in Process (Job 305)146 units × $25 = $3,650

Raw Materials (310 – 118 – 146)× $25 = $1,150(310 – 118 – 146)× $25 = $1,150(To record the issuance of raw materials to production)

Therefore, the journal entry on May 7 to record the purchase of 310 units of raw materials on account is:

Raw Materials    $7,750Accounts Payable    $7,750

The journal entry on May 31 to record the requisition from the materials storeroom is:

Work in Process (Job 200)    $2,596Work in Process (Job 305)    $3,650Raw Materials    $1,150

Work in Process refers to goods that are in the process of being manufactured and are not yet finished.

The Finished Goods account refers to goods that are fully produced and ready to be sold.

Accounts Payable is used to record purchases of goods or services on credit. Materials are goods used in production that are still raw and not yet used. Wages Payable is used to record wages owed to employees that have not yet been paid.

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