Fact pattern: on november 1, year 1, iba co. entered into a contract with a customer to sell 150 machines for $75 each. the customer obtains control of the machines at contract inception. iba’s cost of each machine is $45. iba allows the customer to return any unused machine within 1 year from the sale date and receive a full refund. iba uses the expected value method to estimate the variable consideration. based on iba’s experience and other relevant factors, it reasonably estimates that a total of 20 machines (12 machines in year 1 and 8 machines in year 2) will be returned. iba estimates that (1) the machines are expected to be returned in salable condition and (2) the costs of recovering the machines will be immaterial. during year 1, 10 machines were returned. at the end of year 1, iba continues to estimate that a total of 20 machines will be returned within 1 year from the sale date. what amount of refund liability, if any, will be reported in iba’s december 31, year 1, balance sheet?

Cooper sues company a in state court in south carolina, where he lives, for negligence alleging personal injury and property damage of $100,000 after a truck driven by an employee of company a rear-ended his pickup truck. company a is incorporated in delaware, has its headquarters in new york, but does a substantial amount of business in south carolina. claiming diversity of citizenship, company a seeks removal to federal district court, but cooper opposes the motion. which of the following is true regarding whether the case may be properly removed to federal district court? the amount in controversy satisfies diversity requirements; and if company a's nerve center is in a state other than south carolina, then the case may be properly removed to federal court.the amount in controversy satisfies diversity requirements; and because company a is incorporated and has its headquarters in a state other than south carolina, the case may be properly removed to federal court.because the amount in controversy satisfies diversity requirements and company a is incorporated in a state other than south carolina, the case may be properly removed to federal court regardless of where company a's headquarters, nerve center, or principal place of business is located.because the amount in controversy satisfies diversity requirements and company a is headquartered in a state other than south carolina, the case may be properly removed to federal court regardless of where company a is incorporated and regardless of the location of its nerve center.because the amount in controversy fails to satisfy jurisdictional requirements, regardless of the location of company a, the case may not be removed to federal court.