John has 50/250/25 car insurance.  Last week he caused a car accident that damaged the following:: Al's car = $2000 damage Bob's car = $6000 damage Charlie's car = $5000 damage Telephone pole = $4000 damage Guard rail = $5000 damage Based on John's insurance, how much will the insurance company have to pay for the damage

Although Hank is retired, he is an excellent handyman and often works part time on small projects for neighbors and friends. Last week his neighbor, Mike, offered to pay Hank $1,010 for minor repairs to his house. Hank completed the repairs in December of this year. Hank uses the cash method of accounting and is a calendar-year taxpayer. Compute Hank's gross income for this year from each of the following alternative transactions:

Marsha Jones has bought a used Mercedes horse transporter for her Connecticut estate. It cost $35,000. The object is to save on horse transporter rentals. Marsha had been renting a transporter every other week for $200 per day plus $1.00 per mile. Most of the trips are 80 or 100 miles in total. Marsha usually gives the driver, Joe Laminitis, a $40 tip. With the new transporter she will only have to pay for diesel fuel and maintenance, at about $0.45 per mile. Insurance costs for Marsha’s transporter are $1,200 per year. The transporter will probably be worth $15,000 (in real terms) after eight years, when Marsha’s horse Spike, will be ready to retire. Assume a nominal discount rate of 9% and a 3% forecasted inflation rate. Marsha’s transporter is a personal outlay, not a business or financial investment, so taxes can be ignored. Calculate the NPV of the investment.

Jim just got a coding job so he will need a new laptop. He finds a good one, which costs $20,000 and can be used for 6 years. After that, the computer will be useless with zero salvage value due to a massive coding work. Jim has insufficient money to buy it, but he can borrow funds at an annual interest rate of 2.5%. The tax rate is 28%. The store said if Jim chooses to lease the laptop, Jim will pay for $3,500 per year (pre-tax). What is the amount of the after- tax lease payment? a) $1,067.5 b) $2,520 c) $980 d) $87.5 e) $14,400

You drive a 4 year old truck valued at $15,000. You have a $70,000 personal automobile policy with $ 12,000 per person medical payments coverage and both collision ($500 deductible) and comprehensive coverage. Your neighbor drives a five-year old SUV valued at $10,000Your neighbor has a 25/50 / 15 automobile policy with $15,000 in medical payments coverage and both collision ($200 deductible) Early one morning your neighbor was driving down the street while you were driving the opposite way to drop your friend off at her house and your neighbor swerved into your lane and struck your vehicle. Below you will find the damage caused by the accident: Your Bodily Injury: $7,000 Your friend's Bodily Injury: $25,000 Your Car: $8,500 Neighbor's Bodily Injury: $ 3,000 Neighbors Car: $9,000 Using the information above, find the following a ) How much will your policy pay for your bodily injury? Type your answer b ) How much will your policy pay for your friend's bodily injury? Type your answer…

As given via the Internet, auto insurance quotes gathered online could vary from $947 to $1,558. A class 18 operator carries compulsory 10/20/5 insurance. He has the following optional coverage: bodily injury, 500/1,000; property damage, 50M; and collision, $200 deductible. His car is 1 year old, and the symbol of the car is 8. He has comprehensive insurance with a $200 deductible. (Use Tables 20.5, 20.6, 20.7, 20.8 and 20.9.) What is the total annual premium? Total annual premium

You damage your car in an accident that is covered by your collision insurance, which has a $200 deductible.  If the damage to your car costs $1,200, the insurance company would pay ___.

Rich Uncle is getting on in years and no longer can safely navigate the stairs in his beautiful three-story (plus basement) mansion. So, following his doctor’s advice, he pays $250,000 to have a four-story elevator installed.   Immediately prior to installation of the elevator the mansion’s FMV was $7.5M. With the new elevator the mansion’s FMV is $7.75M. Ignoring the %-of-AGI floor, what is the amount of Rich Uncle’s medical expense deduction, if any, on account of the installation? Why is that the correct amount?

You own a house that you rent for $1,100 per month. The maintenance expenses on the house average $200 per month. The house cost $219,000 when you purchased it 4 years ago. A recent appraisal on the house valued it at $241,000. If you sell the house you will incur $19,280 in real estate fees. The annual property taxes are $2,500. You are deciding whether to sell the house or convert it for your own use as a professional office. What value should you place on this house when analyzing the option of using it as a professional office?

You were in an accident that required surgery and five days of recovery in the hospital. Your total hospital bill reached $100,000. At the time of your accident you had previously paid nothing in health care costs for the year. Your health insurance has a deductible of $750 per year, a coinsurance rate for hospitalization of 10%, and an individual out-of-pocket maximum payment of $3000 for the year. How much must you pay out-of-pocket for your care in this situation?