In recent years, the IMF's activities have _____.
Fill in the blank(s) with the appropriate word(s).
Answer: expanded
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Quip Corporation wants to purchase a new machine for $284,000. Management predicts that the machine will produce sales of $187,000 each year for the next 5 years. Expenses are expected to include direct materials, direct labor, and factory overhead (excluding depreciation) totaling $78,000 per year. The firm uses straight-line depreciation with an assumed residual (salvage) value of $50,000. Quip's combined income tax rate, t, is 20%.
What is the payback period for the new machine (rounded to the nearest one-tenth of a year)? Assume that the after-tax cash inflows occur evenly throughout the year.
Larson Company on July 15 sells merchandise on account to Stuart Co. for $1,000, terms 2/10, n/30. On July 20 Stuart Co. returns merchandise worth $400 to Larson Company. On July 24 payment is received from Stuart Co. for the balance due. What is the amount of cash received?
a. $600 b. $588 c. $580 d. $1,000