The smiths have decided to move to antigua. they are transferring the ownership of their $950,000 home in oakland to their daughter, renee. renee has heard about proposition 13 and is nervous about not being able to afford the increase in property taxes. does she need to worry?
a. in the state of california, transferring a principal residence of $2 million or less from a parent to a child is considered a transfer exclusion. the property will not be reappraised and the taxes increased.
b. when the property is transferred from the smiths to renee, the full cash value for tax purposes will be adjusted to the current market value of the property. this will increase the property taxes considerably.
c. in the state of california, transferring a principal residence of $1 million or less from a parent to a child is considered a transfer exclusion. the property will not be reappraised nor the taxes increased.
d. none of the above

4. project memo your supervisor has asked you to create a final copy of a memo announcing a special project. open the microsoft® word file ch01 memo from the data files. edit the memo to correct errors in keyboarding, punctuation, spelling, and word usage. submit the edited document to your instructor along with this assignment. to: department supervisorsfrom: tomas perezdate: january 3, 20--subject: playground projectas you now, are offices are close each year on observance of martin luther king, jr. day. this year, the company is organizing a service project for that day. we will be clean up the grove street playground and panting bushes, blubs, and flowers. the company is donating now playground equiptment and park benches. cleanup gear and tools will be provided, and a cook out will conclude the days’ activities. farther information will be provided as the date draws nearer. encourage the employee in you department too participate in this worthwhile effort.

Neveready flashlights inc. needs $317,000 to take a cash discount of 3/15, net 70. a banker will loan the money for 55 days at an interest cost of $13,200. a. what is the effective rate on the bank loan? (use a 360-day year. do not round intermediate calculations. input your answer as a percent rounded to 2 decimal places.) b. how much would it cost (in percentage terms) if the firm did not take the cash discount but paid the bill in 70 days instead of 15 days? (use a 360-day year. do not round intermediate calculations. input your answer as a percent rounded to 2 decimal places.) c. should the firm borrow the money to take the discount? no yes d. if the banker requires a 20 percent compensating balance, how much must the firm borrow to end up with the $317,000? e-1. what would be the effective interest rate in part d if the interest charge for 55 days were $7,200?

The returns on the common stock of maynard cosmetic specialties are quite cyclical. in a boom economy, the stock is expected to return 22 percent in comparison to 9 percent in a normal economy and a negative 14 percent in a recessionary period. the probability of a recession is 35 percent while the probability of a boom is 10 percent. what is the standard deviation of the returns on this stock?