melodyl3on
22.04.2021 •
Business
Haig Corporation, a manufacturer, is a multistate taxpayer that has nexus with States 1 and 2. During the taxable year, Haig's net sales were $2,000,000; $1,200,000 of these sales were made in State 1, and $800,000 were made in State 2. The corporation also received $300,000 from the rental of nonbusiness real property located in State 1. Both states employ a three-factor apportionment formula under which sales, property, and payroll are equally weighted. However, the states do not agree on the definition of apportionable income. Under State 1's tax provisions, nonbusiness rent income is allocable and business income is apportionable, while State 2 requires a corporation to apportion all of its (business and nonbusiness) income. What is the sales factor for State 1 and State 2? Please explain.
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Ответ:
$1,495.92
Explanation:
The amount you plan to borrow from the bank is:
= Cost of house - down payment
= 127,242 - 30,313
= $96,929
The amount to be paid is constant and so is an annuity. The loan amount is the present value of this annuity.
Term = 20 * 12 = 240 months
Interest = 18% / 12 = 1.5% monthly
Present value of annuity = Annuity * ( 1 - (1 + rate) ^-number of periods) / rate
96,929 = Annuity * (1 - (1 + 1.5%) ⁻²⁴⁰) / 1.5%
96,929 = Annuity * 64.79573209
Annuity = 96,929 / 64.79573209
= $1,495.92