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1. Given the following data, calculate the David B...




1. Given the following data, calculate the David Brown's family Adjusted Gross Income (AGI). What are their total itemized deductions? How many personal exemptions do they receive and how much does that save them in taxes if each exemption is worth $3,650 and they are in the 15 percent marginal tax bracket? David is married and has two dependent children. Show all work for full credit. Make sure you account for each piece of data given. W-2 Wages $50,000 Mortgage Interest Paid 6,500 Dividends Received 500 Long Term Capital Gains 2,000 Long Term Capital (Loss) 500 Interest Income 50 State Tax Refund 300 Deductible IRA Contribution 5,000 Property Taxes Paid 1,200 Rental Prop. Passive Income 2,500 Charitable Contributions 5,000 Medical Expenses 4,500 Alimony Paid to Ex-Wife 4,000 Un-reimbursed Employee 2. John Jones is married with son, and would like to purchase enough life insurance to provide the following for his family: Pay off home mortgage $200,000 Pay off car loan 20,000 Final burial expenses 10,000 College education for his son 60,000 Annual living expenses for his family 60,000/year for 20 years If he were to die, his son and wife would receive $14,400 annually for 12 years from Social Security. His wife is also the primary beneficiary of his $100,000 group life policy. Given this information, how much more life insurance does John need? Additionally, John would like to keep his cash outlay as low as possible and the insurance policy that he purchases to last only 20 years. (20 pts) What type of insurance policy would you recommend? (10 pts) (Show all calculations for full credit). 3. The ABC Class A share mutual fund has a NAV (Net Asset Value) of $35.64 and an offer/purchase price of $37.81. Use this information to answer the following questions. You must show all work for full credit. (Total of 30 pts) a. How many shares will you receive when you invest $10,000? (5 points) b. What is the percentage load? (5 points) c. What is the load charge, in dollars, for this transaction? (5 points) d. The fund in the above example is a front end load fund. If it were a no-load fund, what three criteria must be met for a mutual fund to be considered a no-load fund? (15 points),Rachel I apologize but please cancel this request. This was due at midnight and was hoping my professor would take late work but he would not. I'm sorry again and I will probably talk to you soon with more questions all my classes are finance and you have helped me a couple times already in the past.


Paper#5232 | Written in 18-Jul-2015

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