When Sony introduced the first consumer VCRs in the 1970s, the retail price exceeded $1,000. Within a few years, the price dropped well below $500. This is an example of:

Dole Company, with an applicable income tax rate of 30%, reported net income of $210,000. Included in income for the period was an extraordinary loss from flood damage of $30,000 before deducting the related tax effect. The company's income before income taxes and extraordinary items was

a. $240,000. b. $300,000. c. $330,000. d. $231,000.

With a 10% interest rate, the present value of $100 received one year from today is $90.91

Indicate whether the statement is true or false.