An Observer in a Lighthouse Is $62 \mathrm { ft }$

question 25

Multiple Choice

An observer in a lighthouse is $62 \mathrm { ft }$ above the surface of the water. The observer sees a ship and finds the angle of depression to be $0.1 ^ { \circ }$ . Estimate the distance of the ship from the base of the lighthouse.

• A) \(35,545\) ft
• B) \(35,480\) ft
• C) \(35,505\) ft
• D) \(35,570\) ft
• E) \(35,525\) ft

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Definitions:

Lease Liability

An obligation representing future lease payments for the use of assets, recognized on the balance sheet by lessees under new accounting standards.

Capital Lease

A lease agreement that grants a lessee essentially all the risks and rewards of ownership, so it's accounted for on the balance sheet as an asset and liability.

Income Tax Expense

The amount of money a company is required to pay in taxes based on its taxable income, accounted for in the income statement.

Deferred Tax Liability

A tax obligation that a company owes but is not required to pay until a future date, often resulting from differences in accounting practices.