The bank of key west is not going to have enough reserves at the end of the business day to meet its reserve requirement of 10%. it currently has two options to borrow money overnight in order to meet the requirement. first, it could borrow money from the federal reserve at a rate of 1.15%. second, it could borrows money from the other banks at a rate of 0.35%. using this information answer the following questions.

1. what is the federal funds rate?
number: %

2. what is the discount rate?
number: %

He taylor company sells music systems. each music system costs the company $100 and will be sold to the public for $250. in year one, the company sells 100 gift cards to customers for $250 each ($25,000 in total). these cards are valid for just one year, and company officials expect them to all be redeemed. in year two, only 96 of the cards are returned. what amount of net income does the company report for year two in connection with these cards? a. $15,000b. $15,400c. $15,500d. $15,800

Corporations with suppliers, vendors, and customers all over the globe are referred to as : a) global corporations b) international corporations c) multinational corporations d) multicultural corporations

Lynch company manufactures and sells a single product. the following costs were incurred during the company’s first year of operations: variable costs per unit: manufacturing: direct materials $ 12 direct labor $ 6 variable manufacturing overhead $ 1 variable selling and administrative $ 1 fixed costs per year: fixed manufacturing overhead $ 308,000 fixed selling and administrative $ 218,000 during the year, the company produced 28,000 units and sold 15,000 units. the selling price of the company’s product is $56 per unit. required: 1. assume that the company uses absorption costing: a. compute the unit product cost. b. prepare an income statement for the year. 2. assume that the company uses variable costing: a. compute the unit product cost. b. prepare an income statement for the year.