05 Jun Question Cameron pays 15% in dividend and capital g
Question
Cameron pays 15% in dividend and capital gains taxes and 35% in ordinary income taxes. Ten years ago, Cameron purchased a position in a limited partnership for $10,000.Three years later, she was required to contribute $2,000 more to the partnership. Two years ago, she was required to contribute an additional $ 2,000. If Cameron sells her limited partnership investment today for $20,000, what are the taxes?
A. $900
B. $1,500
C. $2,100
D. $2,700
E. $3,500
Assume that the futures price of gold is $390 a troy ounce, and the contract is for 100 troy ounces. the initial margin is $2,000. If the future price increases by 5.0%, what is the return to the investor?
A. 1.0%
B. 2.5%
C. 5.0 %
D. 19.5%
E. 97.5%
Corey pays 15% in dividend and capital gains taxes and 35% in ordinary income taxes. Four years ago, she invested $500,000 in a private placement offering with some friends. The initial price was $50 a share. The investment group is now discussing the possibility of publicly selling their shares. One of the members of the group believed they could get at least $75 a share. If this is correct, what are Corey’s taxes when she sells her shares (ignoring commissions and fees)?
A. $0 because the group is not allowed to see their private placement shared to the public
B. $37,500
C. $54,000
D. $70,000
E. $ 87,500
XYZ Inc. deposited $30 million with ABC Insurance Company in a nonparticipating GIC at 6% interest for three years. Initially, no distributions were planned until maturity, but at the end of two year, XYZ withdrew $5 million to transfer to another GIC. No other withdrawals or distributions were made until maturity when the account was liquidated.
A. XYZ pays taxes annually on accrued interest earned from the GIC
B. XYZ pays taxes on the $5 million withdrawn at the end of year 2
C. Since this is a nonparticipating GIC, XYZ does not pay taxes
D. XYZ does not pay any taxes until maturity
E. None of the above is correct
Luke is 35 years old, has a good job, a wife and two small children, and is financially conservative. He has heard about the large returns that may be achieved by investing in the oil and gas field. Luke is interested , but he has no expertise to provide day to day management. Which of the following investments would be best for Luke
A. direct investment through a working interest
B. General partner]
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