Lefty provides demolition services in several southern states. Lefty has propert

Question

Lefty provides demolition services in several southern states. Lefty has property as follows:

Lefty is a Mississippi Corporation. Lefty also rents property in Mississippi and Tennessee with annual rents of $52,000 and $17,000, respectively. What is Lefty's Mississippi property numerator?

$1,358,156

$1,054,388

$1,002,388

$942,156

Property State Beginning Ending Alabama $123,036 $204,237 Kentucky $203,313 $185,104 Mississippi $881,924 $1,002,388 Louisiana $243,947 $350,306 Tennessee $143,200 $143,200 Total $1,595,420 $1,885,235

Explanation / Answer

Lefty's Mississippi property numerator is the average of the property plus the annual rent.

Average of property is $881,924 + $1,002,388 = 1,884,312 /2 = 942,156

Rent is 52,000 which will be taken 8 times of it = 416,000

So, Lefty's Mississippi property numerator is $1,358,156.

Related Questions

Navigate

• Browse (All)
• Browse L
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.