Historically, most FDI has been directed at the least developed nations of the world

Which of the following statements about annuities is NOT correct?

A) The withdrawal rule on annuity cash value is FIFO. B) Annuities may be appropriate investments for both individuals and corporations. C) The 10% penalty tax is imposed on the interest earned and withdrawn, not on the principal. D) The 10% penalty tax on early distributions does not apply to distributions made to the annuity owner after separating from service from the employer after the owner reaches age 59½.

Fielding Wilderness Outfitters had projected its sales for the first six months of 2010 to be as

follows: Jan. $250,000 April $300,000 Feb. $340,000 May $350,000 Mar. $280,000 June $380,000 Cost of goods sold is 60% of sales. Purchases are made and paid for two months prior to the sale. 40% of sales are collected in the month of the sale, 40% are collected in the month following the sale, and the remaining 20% in the second month following the sale. Total other cash expenses are $40,000/month. The company's cash balance as of March 1st, 2010 is projected to be $40,000, and the company wants to maintain a minimum cash balance of $15,000. Excess cash will be used to retire short-term borrowing (if any exists). Fielding has no short-term borrowing as of March 1st, 2010. Assume that the interest rate on short-term borrowing is 1% per month. What is Fielding's projected total receipts (collections) for April? A) $124,000 B) $36,000 C) -$4,000 D) $180,000