On January 2, 2002, Heather Ltd. signed a ten-year noncancelable lease for a passenger ferry. The lease stipulated annual payments of $68,353 starting at the end of the first year, with title passing to
Heather at the expiration of the lease. Heather treated this transaction as a capital lease.
The ferry has an estimated useful life of 15 years, with no residual value. Heather uses straight-line amortization for all of its capital assets. Aggregate lease payments were determined to have a present value of $420,000, based on implicit interest of 10%.
In its 2002 income statement, what amount of interest expense should Heather report from this lease transaction?

Which of the following is a problem that an effective corporate governance system would mitigate or eliminate?

A 1993 survey conducted by the local paper in Columbus, Ohio, one week before the election day, asked voters who they would vote for City Attorney. The goal was to predict the outcome of the upcoming election. Thirty-seven percent said they would vote for the Democratic candidate. On election day, 41% actually voted for the Democratic candidate. The number 37% is a

The key difference between the short run and the long run is that:

If the demand for a good is relatively inelastic, then the elasticity of demand for the labor used to produce the good will tend to be