A buyer made an offer and received a counteroffer back. The buyer found a new property she likes better and wants to make an offer. The buyer needs to respond to the counteroffer before making an offer on another property.

With a tax rate of 30%, calculate the WACC fora firm that pays 9.00% on its debt, requires a 17% rate of return on its equity, and finances 35% of assets with debt.

a. 13.00% b. 13.26% c. 17.20% d. 13.40%

The balance of the income summary account of a corporation is transferred to which of the following accounts?

a. Capital Stock; b. Cash; c. Premium on Sale of Capital Stock; d. Retained Earnings; e. Income Tax Payable.