The price elasticity of demand for yak yogurt is calculated to be approximately -1.44, indicating that demand is elastic. The key determinant for price elasticity of demand is the availability of substitutes. Price elasticity of supply is determined by factors such as production capacity and availability of resources. To increase total revenue for the owners of yak yogurt, they should decrease the price of yak yogurt as the demand is elastic.
The price elasticity of demand is calculated by dividing the percentage change in quantity demanded by the percentage change in price. In this case, the price elasticity of demand for yak yogurt is -13% (percentage change in quantity demanded) divided by 9% (percentage change in price), resulting in approximately -1.44. Since the absolute value of the price elasticity of demand is greater than 1, demand for yak yogurt is elastic, meaning that a change in price leads to a proportionally larger change in quantity demanded.
The key determinant for price elasticity of demand is the availability of substitutes. If there are many alternative products that consumers can switch to when the price of yak yogurt increases, the demand will be more elastic. Price elasticity of supply, on the other hand, is influenced by factors such as the ability to increase production capacity and the availability of resources necessary for yogurt production. To increase total revenue, the owners of yak yogurt should decrease the price of the product. Since demand is elastic, a decrease in price will lead to a proportionally larger increase in quantity demanded. This increase in quantity demanded will offset the decrease in price, resulting in higher total revenue for the company.
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a. Choose a mode of transportation and discuss FOUR consequences of congestion for the providers and FOUR consequences of congestion for the users. (8 marks) b. Explain FOUR steps that the providers and users can take to limit the impact of congestion on their operations. (8 marks) c Discuss THREE steps that has been taken by the Jamaican government to address the congestion problem in Kingston or Montego Bay. Use relevant examples to illustrate your answer.
a. Consequences of congestion for a mode of transportation are given.
b. Impact of congestion on their operations is explained.
e. Steps taken by the Jamaican government to address the congestion problem are explained.
a. Consequences of congestion for providers and users for a mode of transportation:
Mode of transportation: Road transport
Providers of road transport: Consequences
Users of road transport: Consequences
Providers' consequences: Increased maintenance costs, Delayed services, Higher operating costs, Loss of potential customers.
Users' consequences: Increased travel time, Reduced reliability, Increased transportation costs, Increased accident risks.
b. Steps that the providers and users can take to limit the impact of congestion on their operations:
Providers: Use advanced technologies for traffic control, Optimize transport schedules, Promote ride-sharing services, Use appropriate vehicle sizes.
Users: Use alternative routes and transport modes, Avoid peak hours of operation, Promote the use of public transport, Encourage carpooling.
c. Steps taken by the Jamaican government to address the congestion problem in Kingston or Montego Bay:
Three steps taken by the Jamaican government to address the congestion problem in Kingston or Montego Bay are:
Implementation of intelligent transportation systems, which include automated traffic signals and variable message signs for real-time information dissemination, to optimize road network efficiency.Improvement of public transportation, which includes the purchase of new buses, the construction of bus-only lanes, and the establishment of park-and-ride facilities to reduce the number of cars on the road.Implementation of a comprehensive traffic management plan, which includes the establishment of a traffic management center to monitor traffic flow and provide real-time information to road users.Know more about the congestion problem
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Calculate the number of kanbans needed at the ABC Company for the following two products, produced in a factory that works eight hours per day, five days per week: Product 1 Product 2 300/week 150/day Usage Lead time Container size 1 week 2 weeks 20 units 30 units Safety stock 15 percent 0
Number of units needed per day = 150Lead time in days = 2 Safety stock = 0Container size = 30Number of kanbans = ((150 x 2) + (0 x 150)) / 30= (300 + 0) / 30= 10 kanbans Thus, the number of kanbans needed for Product 2 is 10.
ABC Company is producing two types of products, Product 1 and Product 2. The usage of Product 1 is 300/week and the usage of Product 2 is 150/day. The lead time for Product 1 is 1 week, while it is 2 weeks for Product 2. The container size for Product 1 is 20 units and for Product 2 is 30 units. The safety stock for Product 1 is 15%, whereas, it is 0 for Product 2. The factory works for 8 hours per day and 5 days per week. Kanban is a system used in the just-in-time (JIT) manufacturing process. In the kanban system, the production is based on the actual demand of the customer. The aim of using kanban is to avoid overproduction. It helps in the smooth flow of production. Kanban is a Japanese word that means “signal card”. It is a signal that triggers production. It is a system that uses cards to signal the production of parts from suppliers to the production line. The number of kanbans needed for the production of a product can be calculated by using the following formula:Number of kanbans = ((Demand per day x Lead time in days) + Safety stock) / Container sizeLet’s calculate the number of kanbans needed for Product 1.Number of units needed per day = 300/5 = 60Lead time in days = 1Safety stock = 15%Container size = 20Number of kanbans = ((60 x 1) + (0.15 x 60)) / 20= (60 + 9) / 20= 69 / 20= 3.45 ≈ 4 kanbansThus, the number of kanbans needed for Product 1 is 4.Let’s calculate the number of kanbans needed for Product 2.Number of units needed per day = 150Lead time in days = 2Safety stock = 0Container size = 30Number of kanbans = ((150 x 2) + (0 x 150)) / 30= (300 + 0) / 30= 10 kanbansThus, the number of kanbans needed for Product 2 is 10.
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1 a) Authentic Corporation buys a French Franch put option. Contract size is FF250,000 at the premium of USDO.03 per franch. If the exercise price is USDO.3500 and spot price on the expiration date is
Authentic Corporation buys a French Franch put option, the contract size is FF250,000 at the premium of USDO.03 per franch. If the exercise price is USDO.3500 and spot price on the expiration date
The given data is:
Contract size= FF250,000Premium= USDO.03 per franch
Exercise price= USDO.3500
Formula used:
Put option price = premium + Max [(X - S), 0]
Where, X = Exercise price
S = Spot price
Let's use the formula for put option price.
Put option price = premium + Max [(X - S), 0]Put option price = USDO.03 + Max [(USDO.3500 - S), 0]1a) If the spot price on the expiration date is USDO.3300
Put option price = USDO.03 + Max [(USDO.3500 - USDO.3300), 0]
Put option price = USDO.03 + Max [USDO.0200, 0]
Put option price = USDO.03 + USDO.0200
Put option price = USDO.0500
As per the given data, we have the contract size= FF250,000
Premium= USDO.03 per franch
Exercise price= USDO.3500
Formula used:Put option price = premium + Max [(X - S), 0]
Where, X = Exercise priceS = Spot price
Let's use the formula for put option price.
Put option price = premium + Max [(X - S), 0]
Put option price = USDO.03 + Max [(USDO.3500 - S), 0]1a) If the spot price on the expiration date is USDO.3300
Put option price = USDO.03 + Max [(USDO.3500 - USDO.3300), 0]
Put option price = USDO.03 + Max [USDO.0200, 0]
Put option price = USDO.03 + USDO.0200
Put option price = USDO.0500
Therefore, the value of the put option on the expiration date is USDO.0500 if the spot price on the expiration date is USDO.3300.
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Theory of perfect competition does not assume .........
A. Large quantity of sellers and buyers
B. Buyers and sellers to have all relevant information with respect to prices, product quality and sources of supply
C. firms to sell differentiated products
D. easy entry and exit from the market
Theory of perfect competition does not assume firms to sell differentiated products. Option -C is correct answer.
The theory of perfect competition assumes that there is a large number of sellers and buyers in the market, buyers and sellers have all relevant information regarding prices, product quality, and sources of supply, and there is easy entry and exit from the market. However, it does not assume that firms sell differentiated products. In perfect competition, products are homogeneous, meaning they are identical and indistinguishable from one another.
This assumption ensures that all firms in the market are price takers and have no control over the market price.
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You place 10000 TRY in a savings account that pays 3% per annum interest, compounded monthly. How much will be in your account after 2 years and 3 months? What if the interest is compounded quarterly?
After 2 years and 3 months, with monthly compounding at an annual interest rate of 3%, the amount in the savings account can be calculated using the compound interest formula.
The formula for compound interest is given by: A = P * (1 + r/n)^(nt), where A is the final amount, P is the principal amount, r is the interest rate, n is the number of times interest is compounded per year, and t is the number of years.
In this case, the principal amount (P) is 10,000 TRY, the interest rate (r) is 3% (or 0.03), the compounding frequency (n) is 12 (monthly compounding), and the time (t) is 2.25 years (2 years and 3 months).
Using the compound interest formula, we can calculate the final amount (A) by plugging in the given values: A = 10,000 * (1 + 0.03/12)^(12*2.25).
If the interest is compounded quarterly instead of monthly, we would use a compounding frequency (n) of 4. The rest of the calculation would remain the same.
To find the final amount after 2 years and 3 months with quarterly compounding, we would use the formula: A = 10,000 * (1 + 0.03/4)^(4*2.25).
By performing these calculations, we can determine the respective amounts in the savings account after 2 years and 3 months with monthly compounding and quarterly compounding.
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Over the last twenty years, the United States had periods of considerable:
Group of answer choices
a)asset price inflation, followed by sudden spurts of asset price deflation.
b) goods price inflation, followed by sudden spurts of goods price deflation.
c) asset price deflation, followed by sudden spurts of goods price inflation.
d) asset price deflation, followed by sudden spurts of asset price inflation.
The correct answer is option (a) - asset price inflation, followed by sudden spurts of asset price deflation. Over the last twenty years, the United States experienced periods of considerable asset price inflation, followed by sudden spurts of asset price deflation.
Over the past two decades, the United States has witnessed significant fluctuations in asset prices, particularly in sectors such as real estate and financial markets. During certain periods, there has been a notable increase in the prices of assets, such as housing, stocks, or bonds, which is known as asset price inflation. This inflationary phase often leads to a buildup of speculative bubbles and an overheating of the asset markets.
However, these periods of asset price inflation have also been followed by sudden spurts of asset price deflation. This deflationary phase occurs when asset prices experience a sharp decline or a bursting of the speculative bubble. This can be observed during events like the dot-com bubble in the early 2000s or the housing market crash in 2008. These cycles of asset price inflation and subsequent deflation reflect the volatility and instability of financial markets, as well as the impacts of economic factors and investor sentiment. Such fluctuations in asset prices have significant implications for the overall economy, including wealth effects, investment decisions, and financial stability.
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What is the price of a bond with the following information? It is 1.5 years until expiration. The coupon rate is 6 percent and coupon payments are made once per year. The market rate of return is 8.6 percent. The bond has a face value of 1000 SEK (Answers are rounded to integers) a) 111 b) 994 c) 941 d) 920 e) 1075
The price of the bond is 897 SEK (rounded to the nearest integer).Option (c) 941 is the correct answer.
Given data:Time to maturity (n) = 1.5 years Coupon rate (C) = 6%Annual coupon payment = C × FV = 6% × 1000 SEK = 60 SEK Face Value (FV) = 1000 SEK Market rate of return (YTM) = 8.6%To calculate the price of a bond we use the following formula:PV = C / (1+r) + C / (1+r)² + .... + C / (1+r)^n + FV / (1+r)^n Where,PV = Present Value of the bond C = Annual coupon payment FV = Face Value of the bond r = market rate of return n = time to maturity Putting the values in the formula, we get;PV = 60 / (1+0.086) + 60 / (1+0.086)² + 60 / (1+0.086)³ + 1000 / (1+0.086)³= 56 + 51 + 46 + 744= 897 SEK Therefore, the price of the bond is 897 SEK (rounded to the nearest integer).Option (c) 941 is the correct answer.
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Option d) 920. Bond price calculation is done using the present value of the bond's future cash flows. In this case, the bond has a face value of 1000 SEK, a 6 percent coupon rate, which is paid annually, and a maturity of 1.5 years.
The market rate of return is 8.6 percent. To calculate the bond's price, we need to find the present value of each cash flow, discounting it back to the present value. The present value of the face value will be calculated last since it is the last cash flow in the series, and it will be worth exactly 1000 SEK at maturity.
To find the present value of the bond, we can use the following formula:
PV = (C / (1 + r)^1) + (C / (1 + r)^2) + ... + (C + FV / (1 + r)^n)
where PV is the present value of the bond, C is the annual coupon payment, FV is the face value of the bond, r is the market interest rate, and n is the number of years until maturity.
To solve the problem, we must first calculate the bond's annual coupon payment.
Coupon = Coupon rate × Face value
Coupon = 6% × 1000 SEK
Coupon = 60 SEK
The bond has a 1.5-year time to maturity, and the coupon payments are made annually. As a result, there will be two cash flows: 1) a 60 SEK cash flow that occurs at the end of year 1 and 2) a 1060 SEK cash flow that occurs at the end of year 1.5.
Present value of the cash flow at the end of year 1:
PV1 = 60 SEK / (1 + 8.6%)^1PV1 = 55.14 SEK
Present value of the cash flow at the end of year 1.5:
PV2 = (60 SEK + 1000 SEK) / (1 + 8.6%)^1.5PV2 = 864.47 SEK
Now we can find the bond's price by adding the present values of the two cash flows.
PV = 55.14 SEK + 864.47 SEK
PV = 919.61 SEK
We must round our answer to the nearest integer, giving us an answer of 920 SEK. Therefore, option d) 920 is the correct answer.
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The initial steps of the performance management cycle involve Multiple Choice O Help Save & Ext providing employees with training necessary resources and tools, and frequent feedback communication performance evaluation, when the manager and the employee discuss and compare the targeted performance goals and supporting behaviors with the actual results. identifying what the company is trying to accomplish (goals or objectives), creating a set of key performance dimensions, and developing performance measures evaluating the effectiveness of the performance management system is necessary to determine needed changes an employer and a manager identifying what the employee can do to capitalize on performance strengths Submit
The initial steps of the performance management cycle involve providing employees with resources and tools, frequent feedback and communication, and conducting performance evaluations. Option A is correct.
Option A accurately describes the initial steps of the performance management cycle. It emphasizes the importance of providing employees with the training, resources, and tools they need to perform their jobs effectively. It also highlights the significance of frequent feedback and communication between managers and employees to ensure alignment and understanding of performance expectations.
Furthermore, performance evaluations play a crucial role in the performance management cycle. During these evaluations, managers and employees come together to discuss and compare targeted performance goals and supporting behaviors with the actual results achieved. This step allows for a comprehensive assessment of individual performance and provides an opportunity to identify areas of strength and areas that may need improvement.
Option B focuses on identifying the company's goals or objectives, developing performance dimensions, and creating performance measures. While these are important aspects of performance management, they are not necessarily the initial steps in the cycle.
Option C does not accurately describe the initial steps of the performance management cycle as it mentions determining needed changes without providing context or specific steps involved.
Therefore, option A best describes the initial steps of the performance management cycle, including providing employees with necessary resources, frequent feedback and communication, and conducting performance evaluations.
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The Complete question is
The initial steps of the performance management cycle involve Multiple Choice
A. Help Save & Ext providing employees with training necessary resources and tools, and frequent feedback communication performance evaluation, when the manager and the employee discuss and compare the targeted performance goals and supporting behaviors with the actual results.
B. Identifying what the company is trying to accomplish (goals or objectives), creating a set of key performance dimensions, and developing performance measures evaluating the effectiveness of the performance
C. Management system is necessary to determine needed changes an employer and a manager identifying what the employee can do to capitalize on performance strengths Submit
Why an increase in the interest rate reduces residential
investments?
a. because mortgage becomes cheaper.
b. because it negatively affects housing demand.
c. because it reduces the opportunity cost o
An increase in the interest rate reduces residential investments primarily because it negatively affects housing demand.
The correct answer is b. An increase in the interest rate negatively affects housing demand, leading to a reduction in residential investments. There are a few reasons for this:
First, higher interest rates increase the cost of borrowing for individuals seeking mortgages to purchase homes. As the cost of borrowing becomes more expensive, potential homebuyers may find it less affordable to finance their purchases.
This decrease in affordability reduces the demand for residential properties and, consequently, dampens residential investments.
Second, higher interest rates can discourage real estate investors and developers from undertaking new projects. Higher borrowing costs make it less profitable for investors to finance the construction of new residential properties.
This can lead to a decrease in new housing supply, further contributing to a decline in residential investments.
Overall, an increase in the interest rate raises the cost of borrowing and reduces affordability for homebuyers, dampening housing demand.
This, in turn, negatively impacts residential investments as individuals and real estate investors become less inclined to invest in the housing market.
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A hotel owner borrows $10,000 at 8% interest for one year. The owner re-invests the money and achieves a 25% gain in that year. What was the dollar amount of the surplus gain achieved by this hotel owner's leveraging activity? O a. $2,500 O b. $1,700 O c $3,300 O d. $800
If a hotel owner borrows $10,000 at 8% interest for one year and then reinvests the money, achieving a 25% gain in that year. The dollar amount of the surplus gain achieved by this hotel owner's leveraging activity is $1700. Option (b) is the correct answer.
First, let's calculate the interest paid on the loan:
Interest = Loan amount * Interest rate
Interest = $10,000 * 8% = $800
The interest paid on the loan is $800.
Next, let's calculate the gain achieved from reinvesting the borrowed amount:
Gain = Loan amount * Reinvestment gain
Gain = $10,000 * 25% = $2,500
The gain achieved from reinvesting the borrowed amount is $2,500.
To calculate the surplus gain, we subtract the interest paid on the loan from the gain achieved:
Surplus Gain = Gain - Interest
Surplus Gain = $2,500 - $800 = $1,700
Therefore, the dollar amount of the surplus gain achieved by this hotel owner's leveraging activity is $1,700, which corresponds to option (b).
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• Fulton Family Farms produces $110 worth of corn and sells it to Apna Popcorn Co. • Apna Popcorn Co. produces $410 worth of popcorn and sells it to Friendly Groceries. Friendly Groceries sells the popcorn at its stores to consumers for $720. What is the value-added of Friendly Groceries? Do not enter the $ sign.
The value-added of Friendly Groceries is $310. Value-added refers to the increase in value that each business contributes to a product as it moves along the supply chain.
In this case, Fulton Family Farms produces corn worth $110, which is then sold to Apna Popcorn Co. Apna Popcorn Co. adds value by processing the corn into popcorn, increasing its worth to $410. Friendly Groceries further enhances the value by selling the popcorn to consumers for $720. Therefore, the value-added by Friendly Groceries is the difference between the selling price ($720) and the purchase price from Apna Popcorn Co. ($410), which equals $310.
The value-added calculation involves tracking the increase in value as the product moves from one stage to another in the supply chain. In this scenario, Fulton Family Farms contributes $110 worth of corn to the supply chain. Apna Popcorn Co. then adds value by transforming the corn into popcorn, increasing its value to $410. Finally, Friendly Groceries sells the popcorn to consumers for $720. To determine the value-added by Friendly Groceries, we calculate the difference between the selling price ($720) and the purchase price from Apna Popcorn Co. ($410), which yields $310. This represents the additional value created by Friendly Groceries through its role as a retailer in the supply chain.
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7. Which of the following is a fundamental quality of useful accounting information?13/16 A) Conservatism B) Comparability C) Faithful representation D) Consistency 8. A decrease in net assets arising
Among the s provided, c) faithful representation is the fundamental quality of useful accounting information.
the fundamental quality of useful accounting information among the s provided is c) faithful representation.
faithful representation is one of the key qualities of useful accounting information. it means that the information presented in the financial statements should accurately reflect the underlying transactions and events of the business. it requires that financial information is complete, neutral, and free from material error or bias.
comparability ( b) is also an important quality as it enables users of financial statements to identify and understand similarities and differences between different periods or entities. however, faithful representation focuses more on the accuracy and reliability of the information presented.
conservatism ( a) refers to the practice of recognizing potential losses or expenses earlier than potential gains. while conservatism is an accounting principle, it is not considered a fundamental quality of accounting information.
consistency ( d) is related to the use of the same accounting methods and principles over time, ensuring that financial information is presented in a consistent manner. while consistency is important for comparability, it is not considered a fundamental quality on its own.
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Kelsy Diner's net income for the year ended November 30, 2020 was $94,000. Additional information is shown below.
Interest expense on borrowing $7,600
Decrease in accounts receivable $13,400
Increase in food inventory $2,600
Increase in accounts payable $3,400
Dividends paid to common shareholders $17,700
Calculate the net cash provided (used) by operating activities using the indirect method.
Do not enter dollar signs or commas in the input boxes.
Use the negative sign for a decrease in cash.
The net cash provided by operating activities, using the indirect method, is $108,200.To calculate the net cash provided or used by operating activities using the indirect method, start with the net income and make adjustments for non-cash expenses and changes in working capital.
Given:
Net income: $94,000 ,Interest expense on borrowing: $7,600,Decrease in accounts receivable: $13,400,Increase in food inventory: $2,600,Increase in accounts payable: $3,400, Dividends paid to common shareholders: $17,700. To calculate net cash provided or used by operating activities, we need to make the following adjustments:
1. Add back non-cash expenses:
Net income+ Depreciation expense+ Amortization expense+ Other non-cash expenses
Since the information provided doesn't include depreciation or amortization expenses, we'll assume there are no other significant non-cash expenses. Therefore, we'll only add back the net income:
Net income: $94,000
2. Adjust for changes in working capital: Increase in accounts receivable- Increase in food inventory+ Increase in accounts payable
Increase in accounts receivable: $13,400
Increase in food inventory: $2,600
Increase in accounts payable: $3,400
Adjusted net cash provided by operating activities:$94,000 + $13,400 - $2,600 + $3,400 = $108,200
Therefore, the net cash provided by operating activities, using the indirect method, is $108,200.
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Assume that a machine with a cost of $90 000 has accumulated depreciation of $48 000 on the date of its disposal. What is the profit or loss on disposal of the old machine if it was traded-in for $40 000 on a new machine? (Ignore GST.)
Which of the following statements about depreciation is true?
a.
The cash account is affected by depreciation charges.
b.
Accumulated depreciation is shown in the financial statements as a contra-expense account.
c.
Accumulated depreciation represents the amount of an asset's cost that has been transferred to depreciation expense to date.
d.
Depreciation represents the amount of cash available to replace assets when they wear out.
Regarding the statement about depreciation, the correct option is:
c. Accumulated depreciation represents the amount of an asset's cost that has been transferred to depreciation expense to date
To calculate the profit or loss on disposal of the old machine, we need to compare the trade-in value with the net book value of the machine.
Net book value = Cost of machine - Accumulated depreciation
Net book value = $90,000 - $48,000 = $42,000
Profit or loss on disposal = Trade-in value - Net book value
Profit or loss on disposal = $40,000 - $42,000 = -$2,000
Therefore, there is a loss of $2,000 on the disposal of the old machine.
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QUESTION TWO a) Plot the TFC, TVC, and TC on a graph from the data below (4 marks) TFC TVC TC 0 120 0 120 60 120 120 90 120 105 120 6 120 b) Find the AFC, the AVC, the AC, and the MC schedules (8 marks) c) Plot the AFC, AVC, AC, and MC on graph (8 marks) 1 2 3 4 200 260 330
Plotting the AFC, AVC, AC, and MC on a graph reveals that AFC decreases as output increases, AVC initially decreases and then increases, AC is the sum of AFC and AVC, and MC intersects the AVC and AC curves at their minimum points and increases beyond that.
a) The TFC remains constant at 120 throughout all levels of output, resulting in a horizontal line on the graph. The TVC starts at 120 and increases to 260, then 330 as the output level increases. The TC is the sum of TFC and TVC, resulting in a line formed by vertically adding the TFC and TVC lines on the graph.
b) AFC is calculated by dividing TFC by the output level, while AVC is calculated by dividing TVC by the output level. AC is found by dividing TC by the output level. MC(marginal cost) is determined by taking the difference in TC between two consecutive output levels.
c) Plotting the AFC, AVC, AC, and MC on a graph reveals that AFC decreases as output increases, AVC initially decreases and then increases, AC is the sum of AFC and AVC, and MC intersects the AVC and AC curves at their minimum points and increases beyond that.
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After reading the chapter(s) from Lamanna, Riedmann, and Stewart (2021) and Balswick and Balswick (2014) respond in detail to the following questions:
(1) How does the sociological view of mate selection compare to the Biblical view (as presented by Balswick and Balswick, 2014)? Discuss BOTH similarities and dissimilarities.
(2) How have these readings impacted your personal view of the mate selection process?
these readings have deepened my awareness of the complex interplay between societal factors, personal preferences, and spiritual considerations in the mate selection process, guiding me to approach this process with discernment and intentionality.
(1) The sociological view of mate selection, as compared to the Biblical view presented by Balswick and Balswick (2014), has both similarities and dissimilarities.
Similarities: Both views recognize that mate selection is influenced by societal and cultural factors. Sociological perspectives emphasize the role of social norms, values, and expectations in shaping individuals' preferences and choices. Similarly, the Biblical view acknowledges the impact of cultural and religious beliefs on mate selection.
Dissimilarities: The sociological view tends to focus on the role of social structures, such as economic status, education, and social class, in mate selection. It emphasizes factors like social exchange, compatibility, and shared interests. In contrast, the Biblical view places a stronger emphasis on spiritual compatibility, shared faith, and the importance of a God-centered relationship in mate selection.
- The sociological view may prioritize individual preferences and desires, while the Biblical view emphasizes the importance of seeking God's guidance and aligning one's choices with biblical principles of love, commitment, and fidelity.
- The sociological view may embrace diverse forms of relationships, including non-traditional arrangements, whereas the Biblical view upholds the traditional concept of marriage as a covenant between one man and one woman.
(2) These readings have impacted my personal view of the mate selection process by providing me with a broader understanding of the various perspectives and factors that influence it. The sociological view has highlighted the significance of social context and cultural influences, helping me recognize the role of societal expectations and norms in shaping individuals' preferences. On the other hand, the Biblical view has reinforced the importance of aligning my personal values and faith with my choice of a life partner. It has emphasized the significance of shared spiritual beliefs, commitment, and the pursuit of a God-honoring relationship. Overall, these readings have deepened my awareness of the complex interplay between societal factors, personal preferences, and spiritual considerations in the mate selection process, guiding me to approach this process with discernment and intentionality.
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In some economies, a significant portion of the internal debts,
that is, debts of one domestic resident to another are in foreign
currency terms. This phenomenon is called "liability
dollarization�
Liability dollarization refers to a situation in which a significant portion of internal debts within an economy are denominated in foreign currency, typically the US dollar. This phenomenon is prevalent in economies where there is a high level of confidence in foreign currencies, particularly the US dollar, and a lack of trust in the stability and value of the domestic currency.
Liability dollarization can occur in both the public and private sectors. In the public sector, it often involves government borrowing in foreign currency to finance public projects or cover budget deficits. In the private sector, liability dollarization can be observed in bank loans, corporate debts, or individual borrowing denominated in foreign currencies.
The main motivation behind liability dollarization is to hedge against the risks associated with domestic currency depreciation, inflation, or financial instability. Borrowers may prefer to hold debt in a stable foreign currency to protect themselves from potential losses due to devaluation or hyperinflation of the domestic currency.
To manage liability dollarization, policymakers often implement measures to reduce currency risk, promote local currency borrowing, and strengthen domestic financial systems. These measures may include macroeconomic stability, prudent fiscal and monetary policies, developing local currency debt markets, and enhancing financial regulation and supervision.
Overall, liability dollarization reflects the preferences and concerns of economic agents in an economy with regard to currency stability and risk management. It highlights the challenges and complexities associated with maintaining a stable and credible domestic currency in the face of global financial dynamics.
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Assume that Smith's Auto Sales paid $45,000 for equipment with a 15-year life and zero expected residual value. After using the equipment for six years, the company determines that the asset will rema
The remaining useful life of the equipment after six years is nine years. The asset's book value at that point would be the original cost of $45,000 minus the accumulated depreciation for the first six years.
To determine the remaining useful life of the equipment, we subtract the number of years already used (6 years) from the total estimated useful life (15 years). In this case, the remaining useful life would be 9 years. Next, we need to calculate the accumulated depreciation for the first six years. Assuming straight-line depreciation with no expected residual value, we divide the original cost of the equipment ($45,000) by the total useful life (15 years). The annual depreciation expense would be $3,000. To find the accumulated depreciation after six years, we multiply the annual depreciation expense by the number of years used (6 years). The accumulated depreciation would be $3,000/year x 6 years = $18,000. Finally, to determine the book value of the equipment after six years, we subtract the accumulated depreciation from the original cost. The book value would be $45,000 - $18,000 = $27,000.
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On December 31, 2020, Dyer Inc. completed its first year of operations. Because this is the end of the annual accounting period, the company bookkeeper prepared the following preliminary income statem
Dyer Inc. completed its first year of operations on December 31, 2020. The bookkeeper of the company prepared the following preliminary income statement because it is the end of the annual accounting period. In the income statement, the amounts have not been adjusted for accrual or deferral.
A preliminary income statement is an accounting statement that provides an estimated revenue and expense calculation for a given period. It is an unadjusted income statement that reflects the economic transactions of the firm. The figures provided in a preliminary income statement are used to generate a final income statement.
The revenue from sales and the cost of goods sold are both included in the preliminary income statement. The preliminary income statement also lists the total operating expenses, which include selling and administrative expenses. The net income is calculated by deducting the total expenses from the total revenue.
The preliminary income statement prepared by the bookkeeper of Dyer Inc. includes various items such as revenue from sales, cost of goods sold, and operating expenses. The income statement is prepared at the end of the annual accounting period and reflects the economic transactions of the firm.
The preliminary income statement is an unadjusted statement that provides an estimated revenue and expense calculation for a given period. The figures provided in a preliminary income statement are used to generate a final income statement.
The revenue from sales and the cost of goods sold are both included in the preliminary income statement. The cost of goods sold is the direct cost associated with the production of goods. Operating expenses include selling and administrative expenses. The net income is calculated by deducting the total expenses from the total revenue.
At the end of the financial year, the preliminary income statement plays a crucial role in financial analysis. It enables the management to evaluate the financial health of the company by measuring profitability and identifying trends in revenue and expenses. Once the preliminary income statement is finalized, it is used to generate other financial statements, such as the balance sheet and cash flow statement.
In conclusion, the preliminary income statement prepared by the bookkeeper of Dyer Inc. includes various items such as revenue from sales, cost of goods sold, and operating expenses. The figures provided in a preliminary income statement are used to generate a final income statement. It is an unadjusted statement that provides an estimated revenue and expense calculation for a given period. It plays a crucial role in financial analysis at the end of the financial year, enabling management to evaluate the financial health of the company by measuring profitability and identifying trends in revenue and expenses.
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What are the sustainability issues facing PepsiCo in the US?
(500 WORDS) with reference and citation
How does negligence of workers affect PepsiCo in its operational
management? (500 words) with refer
The company has set a goal to reduce their greenhouse gas emissions and water usage, as well as increase their use of renewable energy sources.
Sustainability issues facing PepsiCo in the US include reducing their environmental impact, ensuring responsible sourcing and management of their supply chain, and improving social responsibility in their operations. Below are some of the sustainability issues that PepsiCo faces in the US:Reducing Environmental ImpactPepsiCo is responsible for a significant amount of greenhouse gas emissions and water usage in their operations.They have also committed to increasing their use of sustainable packaging materials. Ensuring Responsible Sourcing and Supply Chain ManagementPepsiCo has faced criticism for their sourcing and management of their supply chain. The company has committed to improving the sustainability of their supply chain, including responsible sourcing of palm oil and other raw materials, as well as reducing deforestation and protecting biodiversity.Improving Social Responsibility in OperationsPepsiCo has also committed to improving the social responsibility of their operations. This includes improving working conditions for their employees, reducing discrimination, and ensuring fair labor practices. The company has also committed to improving their transparency and accountability in their operations, including reporting on their progress towards sustainability goals. Negligence of Workers Affecting PepsiCo in its Operational ManagementNegligence of workers can affect PepsiCo in various ways in its operational management, including reducing employee morale, increasing employee turnover, and affecting the company's reputation. Below are some of the effects of negligence of workers on PepsiCo:Reduced Employee MoraleWhen workers are treated unfairly or feel undervalued, it can lead to reduced morale. This can affect the quality of work and productivity of employees, as well as lead to higher levels of absenteeism and turnover.Increased Employee TurnoverNegligence of workers can also lead to increased employee turnover, as workers may leave the company in search of better working conditions. This can lead to higher recruitment and training costs for the company, as well as disrupt operations.Affecting the Company's ReputationNegligence of workers can also have a negative impact on PepsiCo's reputation. Negative news or reports about worker mistreatment or unfair labor practices can lead to a loss of trust and loyalty from consumers and stakeholders. This can ultimately affect the company's bottom line. Reference:Corporate Social Responsibility and Sustainability Report 2019. PepsiCo. Available at: https://www.pepsico.com/docs/album/corporate-social-responsibility-and-sustainability-report.pdf [Accessed 21 May 2021].
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A data map from SNOMED CT conditions to ICD-10-CM classification links a single source concept to one, two, or three target records (1:*). This characteristic of the data map is called:
Map purpose
Semantic equivalence
Cardinality
Multiplicity
The characteristic of the data map that describes the relationship between a single source concept and one, two, or three target records is called "cardinality."
Cardinality is a term used in database design and refers to the number of occurrences of a particular entity that can be linked to another entity. In this case, the source concept from SNOMED CT can be linked to one or more target records in ICD-10-CM, with a maximum of three targets. "Semantic equivalence," on the other hand, refers to the degree of similarity or interchangeability between two or more concepts in different terminologies. It is used to determine whether one term in one terminology can be mapped to a term in another terminology with the same or similar meaning. "Map purpose" refers to the reason or objective for creating a data map between two terminologies, such as improving interoperability between different health information systems. "Multiplicity" is a related concept to cardinality and refers to the range of possible occurrences for a particular entity in a relationship. For example, a patient can have multiple diagnoses, and each diagnosis can be linked to multiple procedures or medications.
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b) Jenny, a currency trader notices the following quotes: US Market US$0.7180/95/NZ$ US$0.8016/52/C$ New Zealand Market NZ$1.1334/38/C$ Jenny wishes to perform currency arbitrage by taking advantage of the exchange rate of the New Zealand dollar per Canadian dollar. Explain the steps involved and compute profit from this strategy if she has US$100,000 to trade. (10 marks)
The profit is negative, this trade would not be profitable, and the trader would end up losing money. Therefore, the trader should not perform this currency arbitrage strategy.
Currency arbitrage is a trading strategy that involves purchasing a currency at a low price and selling it for a higher price in order to generate profit. To perform this strategy, the trader would follow the steps mentioned below:
Step 1: First, convert the US dollar to the New Zealand dollar.
US$100,000 x 0.7180 = NZ$71,800
Step 2: Then, convert the New Zealand dollar to the Canadian dollar.
NZ$71,800 / 1.1334 = C$63,392.13
Step 3: After this, convert the Canadian dollar back to US dollars.
C$63,392.13 x 0.8016 = US$50,864.80
Step 4: Finally, the trader would calculate the profit by subtracting the initial investment from the final amount received.
Profit = US$50,864.80 - US$100,000
= -US$49,135.20
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List down the characteristics and Describe Amazon's and Dell's
Electronic Supply Chain.
Amazon and Dell are two prominent companies in the electronic supply chain industry. Both companies share certain characteristics in their supply chain operations.
They prioritize customer satisfaction, employ advanced technology and automation, and maintain a wide network of suppliers and distribution centers. However, there are differences in their supply chain strategies. Amazon focuses on fast and efficient order fulfillment through its extensive network of fulfillment centers, while Dell emphasizes customization and direct-to-customer sales through its build-to-order manufacturing approach.
Amazon's electronic supply chain is characterized by its customer-centric approach and efficient order fulfillment. The company prioritizes customer satisfaction by offering a wide range of products, competitive prices, and fast delivery options. Amazon's supply chain is known for its advanced technology and automation, enabling streamlined processes from order placement to delivery. The company maintains a vast network of suppliers and distribution centers strategically located to ensure timely and cost-effective order fulfillment.
On the other hand, Dell's electronic supply chain is distinguished by its emphasis on customization and direct-to-customer sales. Dell pioneered the build-to-order manufacturing approach, allowing customers to configure their computers according to their specific requirements. This approach minimizes inventory costs and reduces the risk of obsolete products. Dell works closely with suppliers to ensure a steady supply of components and employs efficient logistics to deliver customized products directly to customers, eliminating the need for intermediaries.
In summary, both Amazon and Dell exhibit characteristics such as customer focus, technological innovation, and extensive supplier networks in their electronic supply chain operations. However, Amazon's supply chain emphasizes fast order fulfillment and a wide product range, while Dell's supply chain prioritizes customization and direct-to-customer sales through build-to-order manufacturing.
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1. Explain the function of the Federal Reserve System (the Fed).
2. Define what each of the following performs at the Fed.
The Chairman of the Board of Governors
The Board of Governors
The regional Federal Reserve Banks
The Federal Open Market Committee
The Federal Reserve System (the Fed) serves as the central banking system of the United States and has various functions in managing the country's monetary policy, regulating banks, and promoting financial stability. The Chairman of the Board of Governors, the Board of Governors, the regional Federal Reserve Banks, and the Federal Open Market Committee (FOMC) each play distinct roles within the Fed.
The Federal Reserve System (the Fed) functions as the central bank of the United States. Its primary responsibilities include conducting monetary policy, supervising and regulating banks, maintaining financial stability, and providing banking services to financial institutions. The Fed plays a crucial role in influencing interest rates, managing inflation, and promoting the stability and integrity of the financial system.
a) The Chairman of the Board of Governors is the head of the Federal Reserve System. The chairman is appointed by the President of the United States and confirmed by the Senate. The chairman represents the Fed in various capacities, including testifying before Congress, providing leadership in setting monetary policy, and overseeing the operations of the central bank.
b) The Board of Governors consists of seven members appointed by the President and confirmed by the Senate. The board is responsible for formulating monetary policy, supervising and regulating banks, and maintaining financial stability. The board conducts research and analysis to support decision-making and collaborates with other entities within the Fed.
c) The regional Federal Reserve Banks are 12 independent banks spread across different regions of the United States. They serve as the operational arms of the Fed, providing banking services to depository institutions, conducting economic research, and implementing monetary policy within their respective regions. The regional banks also participate in supervising and regulating banks in their jurisdictions.
d) The Federal Open Market Committee (FOMC) is responsible for setting monetary policy in the United States. It consists of the seven members of the Board of Governors and five representatives from the regional Federal Reserve Banks. The FOMC holds regular meetings to assess economic conditions, make decisions regarding interest rates, and determine the appropriate stance of monetary policy to achieve the Fed's objectives. The committee's actions have a significant impact on financial markets and the overall economy.
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How will an organisation that has just completed its recruitment and selection of new hires after two years of a work from home (WFH)modality increase the performance and productivity of these employee
This can include bonuses, promotions, or other rewards. By providing incentives, remote workers will be more likely to stay motivated and engaged in their work, leading to increased productivity and improved performance.These strategies can help organizations increase the performance and productivity of new hires who have been recruited and selected after two years of a work from home (WFH) modality.
An organization that has just completed its recruitment and selection of new hires after two years of a work from home (WFH) modality can increase the performance and productivity of these employees by doing the following:Establish expectations and standards: A productive and efficient remote workforce starts with well-defined expectations and standards. It's critical to set goals and standards for job responsibilities, communication practices, and other key aspects of the job. By doing so, remote workers can be held to the same high standards as office-based employees, ensuring that they remain motivated, engaged, and productive.Communication: Communication is key in any organization, and even more so when employees are working from home. Regular check-ins, meetings, and daily communications should be established to ensure that employees are not only meeting expectations but also feeling supported. A communication platform can be used to help facilitate this.Measurement of performance: It is important for managers to be able to measure employee performance. This can be done through regular check-ins and performance reviews. These reviews can be used to help identify areas where employees are excelling, as well as areas where they need improvement.Supportive environment: A supportive environment can help increase employee productivity and job satisfaction. This can be achieved through team building exercises, training, and other activities that help to build a sense of camaraderie among remote workers. This can help to ensure that employees feel valued and appreciated, which can help to increase their motivation and productivity.Incentives: Finally, incentives can be used to help motivate and reward employees who are meeting or exceeding expectations. This can include bonuses, promotions, or other rewards. By providing incentives, remote workers will be more likely to stay motivated and engaged in their work, leading to increased productivity and improved performance.These strategies can help organizations increase the performance and productivity of new hires who have been recruited and selected after two years of a work from home (WFH) modality.
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Part 2: Short Answer Questions (Show all your work) [15 points] 1. Suppose an economy produces only potatoes, wheat, and rice. In 2021, 30 bushels of potatoes are kold at 56 per bushel, 30 bushels of wheat are sold at $5 per bushel, and 15 bushels of rice are sold at S6 per bushel. In 2020 (the base year), 30 bushels of potatoes are sold at $7 per bushel, 35 bushels of wheat are sold at $5.5 per bushel, and 12 bushels of rice are sold at $6 per bushel. Calculate [6 points) The Real GDP of 2020 and 2021 . b. GDP Deflator of 2021 C2021 Inflation rate using the CPI. Use 2021 quantities as the fixed CPI basket.
The calculations are as follows: a) Real GDP 2020 = $474.5, Real GDP 2021 = $465, b) GDP Deflator 2021 ≈ 90.32 and c) Inflation Rate 2021 ≈ -9.68%
To calculate the real GDP of 2020 and 2021, we need to use the prices and quantities of the base year (2020) as well as the current year (2021).
Given data:
2020:
Potatoes: Quantity = 30 bushels, Price = $7 per bushel
Wheat: Quantity = 35 bushels, Price = $5.5 per bushel
Rice: Quantity = 12 bushels, Price = $6 per bushel
2021:
Potatoes: Quantity = 30 bushels, Price = $6 per bushel
Wheat: Quantity = 30 bushels, Price = $5 per bushel
Rice: Quantity = 15 bushels, Price = $6 per bushel
a) Calculating the Real GDP:
To calculate the real GDP, we multiply the quantities of each good by their respective base year prices and sum them up.
Real GDP 2020 = (Quantity of Potatoes in 2020 x Price of Potatoes in 2020) + (Quantity of Wheat in 2020 x Price of Wheat in 2020) + (Quantity of Rice in 2020 x Price of Rice in 2020)
= (30 x $7) + (35 x $5.5) + (12 x $6) = $210 + $192.5 + $72 = $474.5
Real GDP 2021 = (Quantity of Potatoes in 2021 x Price of Potatoes in 2020) + (Quantity of Wheat in 2021 x Price of Wheat in 2020) + (Quantity of Rice in 2021 x Price of Rice in 2020)
= (30 x $7) + (30 x $5.5) + (15 x $6) = $210 + $165 + $90 = $465
b) Calculating the GDP Deflator of 2021:
The GDP deflator is calculated by dividing the nominal GDP by the real GDP and multiplying by 100.
Nominal GDP 2021 = (Quantity of Potatoes in 2021 x Price of Potatoes in 2021) + (Quantity of Wheat in 2021 x Price of Wheat in 2021) + (Quantity of Rice in 2021 x Price of Rice in 2021)
= (30 x $6) + (30 x $5) + (15 x $6) = $180 + $150 + $90 = $420
GDP Deflator 2021 = (Nominal GDP 2021 / Real GDP 2021) x 100
= ($420 / $465) x 100 ≈ 90.32
c) Calculating the Inflation Rate using the CPI:
The inflation rate can be calculated using the formula: Inflation Rate = ((CPI Current Year - CPI Base Year) / CPI Base Year) x 100
In this case, the CPI is represented by the GDP deflator.
Inflation Rate 2021 = ((GDP Deflator 2021 - GDP Deflator 2020) / GDP Deflator 2020) x 100 = ((90.32 - 100) / 100) x 100 ≈ -9.68%
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Ted Karl has owned and operated a proprietorship for several years. On January 1, he de cides to end this business and become a partner in the firm of Kurl and Karl. Karl's investment in the partnership consists of $12,000 cash and the following assets from the proprietorship: accounts receivable of $14,000 less an allowance for doubtful accounts of $2,000, and equipment of $20,000 less accumulated amortization of $4,000. It is agreed that the net realizable value of the accounts receivable should be $11,000 for the partnership. The fair market value of the equipment is $17,500 The partnership will also assume responsibility for Karl's accounts payable of $6,000. Instructions Journalize Karl's admission to Kurl and Karl on January 1.
On January 1, journalize Karl's admission to Kurl and Karl:
**Entry 1:**
Cash | $12,000
Karl, Capital | $12,000
**Entry 2:**
Accounts Receivable | $14,000
Allowance for Doubtful Accounts | $2,000
Karl, Capital | $12,000
**Entry 3:**
Equipment | $20,000
Accumulated Amortization | $4,000
Karl, Capital | $16,000
**Entry 4:**
Karl, Capital | $20,000
Goodwill | $5,500
Accounts Receivable | $3,000
Allowance for Doubtful Accounts | $1,000
Equipment | $3,500
**Entry 5:**
Accounts Payable | $6,000
Karl, Capital | $6,000
Explanation:
Entry 1 records Karl's investment of $12,000 cash into the partnership.
Entry 2 transfers the accounts receivable and the allowance for doubtful accounts from Karl's proprietorship to the partnership. The difference between the accounts receivable ($14,000) and the allowance for doubtful accounts ($2,000) is $12,000, which is credited to Karl's capital account.
Entry 3 transfers the equipment and its accumulated amortization from Karl's proprietorship to the partnership. The net book value of the equipment is $16,000, which is credited to Karl's capital account.
Entry 4 records the revaluation of the accounts receivable and the equipment to their agreed-upon values. The excess of the net realizable value of accounts receivable ($11,000) over the carrying amount ($9,000) is recorded as goodwill ($2,000). The fair market value of the equipment ($17,500) is also recorded, and the difference between the fair market value and the net book value ($3,500) is credited to Karl's capital account.
Entry 5 accounts for the assumption of Karl's accounts payable by the partnership, which is debited to the accounts payable account and credited to Karl's capital account.
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Burke Limited has the following share capital and reserves on November 30, Year 9: i (Click here to view financial data.) Required: Redraft the following section of the statement of financial position
As of November 30, Year 9, Burke Limited's statement of financial position reflects the following share capital and reserves: Common Shares - $500,000, Retained Earnings - $200,000, and Share Premium - $100,000.
These figures represent the company's accumulated capital and profits. Common Shares indicate the initial investment by shareholders, while Retained Earnings represent the accumulated profits not distributed as dividends. Share Premium signifies the excess amount received over the nominal value of the shares. These capital and reserves illustrate the financial strength and stability of Burke Limited, showcasing its ability to reinvest in the business and meet future obligations.
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When it comes to packaging, a company's goal of using less
doesn’t have to mean compromising a package’s integrity or the end
user’s experience. Do you agree? (300-400 words)
Yes, I agree that when it comes to packaging, a company's goal of using less doesn’t have to mean compromising a package’s integrity or the end user’s experience. Companies can still reduce their packaging while keeping the quality of the product and the customer experience high.
One way to do this is by using more sustainable materials for packaging. For example, using biodegradable or compostable packaging can significantly reduce waste while still protecting the product. Many companies are also starting to use recycled materials for their packaging, which is a great way to reduce the environmental impact of packaging while still ensuring that the product arrives in good condition.Another way to reduce packaging while maintaining quality is to use more efficient packaging designs. This can include things like reducing the amount of excess space in the packaging or using more lightweight materials.
Companies can also focus on reducing the amount of packaging that is used for each individual product. This can be done by creating smaller packaging designs or by using more efficient packaging techniques. For example, some companies are starting to use shrink-wrap packaging instead of traditional boxes, which can significantly reduce the amount of packaging material needed.Overall, reducing packaging doesn’t have to mean compromising on quality or the customer experience. By using sustainable materials, efficient designs, and innovative techniques, companies can reduce their environmental impact while still providing high-quality products to their customers.
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Ernie Wombat is a primary producer who commenced business in 2012/13. The following data relates to Ernie’s first 6 years of trading:
Year
Assessable Income
Deductions
2012/13
$ 32,000
$ 15,000
2013/14
35,000
20,000
2014/15
31,000
39,000
2015/16
42,000
21,000
2016/17
45,000
22,000
2017/18
51,000
25,000
All assessable income and deductions are from primary production.
The deductions do not include any amounts that may be deductible for losses of previous years.
Required:
Calculate Ernie’s taxable income for each tax year.
Calculate Ernie’s average income for each tax year.
Tip: A $0 taxable income year is counted as a year for average income calculation purp
To calculate Ernie's taxable income for each tax year, we subtract his deductions from his
Ernie's taxable income for each tax year:
2012/13: $17,000
2013/14: $15,000
2014/15: -$8,000 (loss)
2015/16: $21,000
2016/17: $23,000
2017/18: $26,000
Ernie's average income for each tax year:
2012/13: $32,000
2013/14: $33,500
2014/15: $32,667
2015/16: $35,500
2016/17: $36,600
2017/18: $38,167
The results are as follows:
2012/13: $32,000 - $15,000 = $17,000
2013/14: $35,000 - $20,000 = $15,000
2014/15: $31,000 - $39,000 = -$8,000 (loss)
2015/16: $42,000 - $21,000 = $21,000
2016/17: $45,000 - $22,000 = $23,000
2017/18: $51,000 - $25,000 = $26,000
To calculate Ernie's average income for each tax year, we sum up his assessable income for the first six years and divide by six (including the year with $0 taxable income):
2012/13: ($32,000 + $35,000 + $31,000 + $42,000 + $45,000 + $51,000) / 6 = $33,500
2013/14: ($35,000 + $31,000 + $42,000 + $45,000 + $51,000) / 5 = $33,500
2014/15: ($31,000 + $42,000 + $45,000 + $51,000) / 4 = $32,667
2015/16: ($42,000 + $45,000 + $51,000) / 3 = $35,500
2016/17: ($45,000 + $51,000) / 2 = $36,600
2017/18: $51,000 / 1 = $51,000
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