Albany, Inc $\begin{array}{lr}&C&D\\\text {Sales factor }&50\%&50\%\\\text { Payroll factor}&40\%&60\%\\\text {Property factor }&10\%&80\%\\\end{array}$

question 95

Multiple Choice

Albany, Inc. does business in states C and D. State C uses an apportionment formula that double-weights the sales factor; state D apportions income using an equally-weighted three-factor formula. Albany's before tax income is $3,000,000, and its sales, payroll, and property factors are as follows. $\begin{array}{lr}&C&D\\\text {Sales factor }&50\%&50\%\\\text { Payroll factor}&40\%&60\%\\\text {Property factor }&10\%&80\%\\\end{array}$
Calculate Albany's income taxable in each state.

• A) State C, $1,100,000; State D, $1,800,000.
• B) State C, $1,100,000; State D, $1,900,000.
• C) State C, $1,200,000; State D, $1,800,000.
• D) State C, $1,200,000; State D, $1,900,000.

Calculate time to maturity for bonds and investments.

Convert between simple annualized yields and effective annualized yields.

Calculate annualized rates of inflation using the Consumer Price Index.

Evaluate the financial implications of different mortgage options.

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Definitions:

GDP

Gross Domestic Product (GDP) is the total market value of all final goods and services produced within a country in a specified period.

Per Capita Real GDP

A measure of the average economic output per person, adjusted for inflation, in a given country.

GDP Deflator

An indicator for the pricing levels of all new, domestically produced, consumable goods and services within an economy.

Population

The total number of people living in a specific area or country at a given time.