Data concerning three of the activity cost pools of Salcido LLC, a legal firm, have been provided below: Activity Cost Pool Total Cost Total Activity Researching legal issues $ 23,030 810 research hours Meeting with clients $ 1,336,368 7,593 meeting hours Preparing documents $ 94,390 5,910 documents The activity rate for the "meeting with clients" activity cost pool is closest to:

$176 per meeting hour

Explanation:

Given that,

For Meeting with clients:

Total Activity = 7,593 meeting hours

Total Cost = $1,336,368

Therefore, the activity rate for the "meeting with clients" activity cost pool is closest to:

= Total Cost of meeting with clients ÷ Number of meeting hours

= $1,336,368 ÷ 7,593

= $176 per meeting hour

$299574.17

Explanation:

From the question, we are given the information that a salt mine inherited will pay $25,000 per year for 25 years, with the first payment being made today. If the fair return on the mine is 7.5%, the amount that should be asked for it's to be sold goes thus:

Periodic amount = $25000

Return on mine = 7.5%

Number of years = 25

Selling amount will then be:

= 25000 + [-PV(7.50%,24,25000,0)]

= 25000 + [-PV(0.075,24,25000,0]

= $299574.17

=