Bacon Signs Inc. is based in a country with a territorial approach to taxation but generates​ 100% of its income in a country with a worldwide approach to taxation. The tax rate in the country of incorporation is​ 25%, and the tax rate in the country where they earn their income is​ 50%. In​ theory, and barring any special provisions in the tax codes of either​ country, Bacon should pay taxes at a rate of​ in the country of incorporation.

Emil motycka is considered an entrepreneur because

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On january 1, year 1, purl corp. purchased as a long-term investment $500,000 face amount of shaw, inc.’s 8% bonds for $456,200. the bonds were purchased to yield 10% interest. the bonds mature on january 1, year 6, and pay interest annually on january 1. purl uses the effective interest method of amortization. what amount (rounded to nearest $100) should purl report on its december 31, year 2, balance sheet for these held-to-maturity bonds?