Centralized storage of the records management program means that
A. Overall authority and responsibility for the program are vested in two or more persons.
B. The records are stored in one location in the organization.
C. The records are stored in several different locations throughout the organization.
D. The overall authority and responsibility for the program are vested in one person.
B
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Cara Company purchased a vehicle for $23,000, and estimated its useful life to be 8 years and its salvage value to be $4,000. After 6 years of straight-line depreciation, Cara decided to do a major overhaul at a cost of $9,500, which are expected to extend the life of the vehicle by 5 years beyond the original estimate. The new estimated salvage value is $2,000. The depreciation expense in year 7 equals:
A) $ 2,464 B) $ 2,321 C) $ 2,035 D) $ 1,893. E) $ 1,750
Gibson Industries is issuing a $1,000 par value bond with an 8% semi-annual interest coupon rate and that matures in 11 years. Investors are willing to pay $972 for these bonds. Gibson is in the 34% tax bracket
What will be the after-tax cost of debt of the bond?