quinoa farms just paid a dividend of $3.00 on its stock. the growth rate in dividends is expected to be a constant 4 percent per year, indefinitely. investors require a return of 11 percent on the stock for the first three years and a return of 9 percent for the next three years, and then a return of 7 percent thereafter. what is the current share price for the stock? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Answers

Answer 1

The current price will be $242.78 if the growth rate 4%. It can be calculated by calculating the price in the first year to the seventh year and the terminal value at year 8.

Current prices generally can be defined as the indicated at a given moment in time, and said to be in nominal value. Present value or known as (PV) generally can be defined as the current value of a future sum of money or stream of cash flows given a specified rate of return.

Firstly, we calculate the price at Year 1 until Year 3

Y1 = Dividend Paid x (1 + growth rate)

Y1 = 3 x 1.04 = 3.12

Y2 = Dividend paid in Year 1  x (1+ growth rate)

Y2 = 3.12 x 1.04 = 3.2448

Y3 = Dividend paid in Year 3  x (1+ growth rate)

Y3 = 3.2448 x 1.04 = 3.375

Present value of the first dividend stream = \(3.12 /1.11 + 3.2448/(1.11^2) + 3.375/(1.11^3)\)

Present value of the first dividend stream = $2.81 + $2.638 + $2.468

Present value of the first dividend stream = $7.916

The second dividend stream from Y4 to Y6 is :

Y4 =  3.375 x 1.04 = 3.51

Y5 = 3.51 x 1.04 = 3.6504

Y6 = 3.6504 x 1.04 = 3.796

Y7 = 3.796  x 1.04 = 3.947

Present value of the second dividend stream =\(3.4992/(1.1^4) + 3.6742/(1.1^5) + 3.8579/(1.1^6)\)

Present value of the second dividend stream = $6.8491.

Then, calculate the terminal value at year 8:

$6.8491 /(7%-4%) = $6.8491/0.03 = 228.033

Current share price = 228.033 + 6.8491 + $7.916

Current share price = $242.78

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Related Questions

The additional income from
selling one more unit of a good
O increasing marginal returns
O diminishing marginal returns
O marginal revenue
O marginal product of labor
O marginal cost

Answers

C, marginal revenue

Explanation: Marginal revenue is the additional income from selling one more unit of a good. It is usually equal to the price.

Happy to help, have a great day! :)

Issued by corporations, these financial instruments give their holders a class ownership in a company. They are riskier than bonds but less risky than the general class of ownership.

Answers

The answer is: Preferred stock

which one of the following is not generally a determinant of the reorder point? a. rate of demand b. length of lead time c. lead time variability d. stockout risk e. item purchase cost

Answers

Item purchase cost Is not generally a determinant of the reorder point. Option E

What is the Item purchase cost?

Generally, The term "Purchase Cost" refers to the entire amount paid for the item(s) or service(s) ordered, which includes all applicable taxes, shipping expenses, and other fees, as well as any potential additional charges.

Delivering inventory in its present position and value results in the acquisition of buy expenses, which include both the value of the transaction and the overhead expenditures associated with it. 1 Money spent on purchases and money spent on travel and food 1

Calculating the purchase price is as simple as multiplying the "unit cost" by the "number of units." To put it another way, there are no bulk discounts available. In addition, the per-unit price stays the same during the course of the year. Order Cost is a kind of fixed overhead cost, and it does not change during the course of the year.

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Discuss how the concept of Economy, Effectiveness and Efficiency (3E) was applied in the specific government agency in Malaysia (you are free to choose any agency).

Answers

The concept of Economy, Effectiveness, and Efficiency (3E) can be applied to the Malaysian government agency, "the Economic Planning Unit (EPU)." The EPU is responsible for formulating policies and strategies for Malaysia's economic development, which has implemented various measures to promote 3E in its operations.

In terms of Economy, the EPU allocates limited resources such as budget and manpower strategically to various sectors, ensuring that government spending is optimized to create a sustainable economic environment. They prioritize high-impact projects and allocate funds accordingly to maintain fiscal discipline.

For Effectiveness, the EPU sets clear targets and objectives in the Five-Year Malaysia Plans, outlining the desired outcomes of various projects and initiatives. They measure the performance and success of these projects by comparing them to the set goals, ensuring that the initiatives effectively achieve their intended purposes.

Lastly, for Efficiency, the EPU continuously evaluates and assesses the progress of various projects, making necessary adjustments to ensure optimal performance. By monitoring and improving the implementation of projects, they ensure that resources are used efficiently to achieve the desired results with minimal waste or duplication.

In conclusion, the Economic Planning Unit in Malaysia effectively applies the concepts of Economy, Effectiveness, and Efficiency (3E) by allocating resources strategically, setting clear objectives and targets, and continuously evaluating the progress of various projects to ensure their success in promoting sustainable economic development.

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sue lee paid $1,200 for her employees' salaries. this transaction would

Answers

This transaction would decrease Sue Lee's cash account and decrease her owner's equity account.

How does paying employee salaries affect accounts?

This transaction would decrease Sue Lee's cash account by $1,200 as she paid the salaries to her employees. Since cash is an asset account, a decrease in cash reduces the total assets of the business.

Additionally, as the owner of the business, Sue Lee's equity account, specifically her capital or owner's equity account, will also decrease by $1,200. This is because the payment of employee salaries represents an expense incurred by the business, which reduces the owner's equity.

The decrease in both cash and owner's equity reflects the outflow of funds from the business to cover the expenses of employee salaries.

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Assume the current market price of a bond exceeds its par value. Which one of these equations applies?.

Answers

Let's say a bond's current market price is higher than its par value.

Which of these equations is correct?

Yield to maturity  Coupon rate: If Yield to maturity is greater than Coupon rate, the bond will trade at a discount and be sold for less than Par value. If Yield to maturity is lower than Coupon rate, the bond will trade at a premium and be sold for more than Par value.

Market value  Face value: If Yield to maturity is greater than Coupon rate, the bond will trade at Par Value and be sold for more than Par value.

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A country currently has a population of 200 million and an annual growth rate of 3.0%. If the growth rate remains constant, after 70 years, the population will be approximately:

Answers

200,000,000(1.03)^70= 1,583,564,382


Most new jobs in the United States will be in the a manufacturing industries:

b. goods-producing industries

C. service-producing industries

d. agriculture-producing industries

Please select the best answer from the choices provided

Α
B
С
D

Answers

Answer:

d agriculture-producing industries

Most new jobs in the United States will be in manufacturing industries service producing industries.  The correct option is c.  

In the United States, manufacturing is an important economic sector. The United States is the world's third-biggest manufacturer (after the People's Republic of Chine and the European Union), with a record high real output of $2.00 trillion (adjusted for inflation in 2009 dollars) in Q1 2018, significantly above the $1.95 trillion peak before the Great Recession in 2007.The manufacturing industry in the United States employed 12.35 million people on December 2016 versus 12.56 million in December 2017, a 1.7% rise.

Manufacturing, while still a significant portion of the US economy, contributed less to GDP in Q1 2018 than the 'Finance, insurance, real estate, rental, other leasing' sector, the 'Government' sector, or the 'Professional and business services' sector.

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Megha is a taekwondo expert who starts her own martial arts training academy. She conducts taekwondo classes for women and teaches them the art of self-defense. Megha can be regarded as a(n)

Answers

As Megha, who is a taekwondo expert that starts her own martial arts training academy, also conducts taekwondo classes for women and teaches them the art of self-defense, then, Megha can be regarded as an entrepreneur.

Who is an entrepreneur?

This refers to the individual that starts and runs a business with limited resources, planning and responsible for all the risks and rewards of their business venture. Their business idea often entails a new product or service rather than an existing business model.

Because of the features possessed by an entrepreneur, therefore, Megha can be regarded as an entrepreneur because of her taekwando classes.

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Joni, a college student, has $400 worth of expenses monthly. How much should she save be financially secure?​

Answers

Answer:

200 i think sorry if im wrong

Explanation:

what did not contribute to the collapse of the stock market in 1929?

Answers

Answer: stock prices reflected the real value of companies

Explanation:

samantha and geri both work as receptionists at a medical office. samantha works from 8:00 a.m. to 12:30 p.m., so she can be home when her daughter gets home from school. geri works from 12:30 p.m. to 5:00 p.m., so she can attend graduate school classes in the morning. how does this arrangement benefit the company?

Answers

When two persons serve as receptionists during two distinct shifts, the organization benefits from the abilities of two people for one position.

Flexibility in scheduling is advantageous to both employees and employers, who are wise enough to understand this. The advantages of flexible work for businesses can help your firm stay ahead of the competition by giving it a competitive edge in recruitment, being a green company, and increasing diversity.

Allowing flexible work schedules for its employees has some advantages for the business:

You can retain valuable personnel by allowing your current team to work flexible hours.Companies gain from flexible work. It makes sense that providing flexible schedules can assist you in attracting more top talent, just as it does for your employees.

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counts accounting beta is 1.3 and its tax rate is 25%. if it is financed with 21% debt, what is its unlevered beta? do not round intermediate calculations. round your answer to two decimal places.

Answers

The Unlevered Beta value is 3.81

What does "unlevered beta" mean?Unlevered beta, also known as asset beta, gauges a company's market risk without taking debt into account. By "unlevering" a beta, the risk associated with the assets of the company alone is isolated from the financial implications of leverage. Or how much of the company's risk profile was attributable to its equity.

How to calculate unlevered beta?

Where:

BL is the firm's beta with leverage =1.3

Tc is the corporate tax rate = 25%

D/E is the company's debt/equity ratio = 21%

Unlevered Beta = (Beta with leverage) /(1+(1-tax rate % )*(debt ratio)

= 1.3 / (1+ (1-0.25) * (0.21)

=1.3/ 1.75 *(0.21)

=1.3 / 0.367

=3.81

The Unlevered Beta value is 3.81

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a report is a business document that contains some predefined data and may include some areas where additional data are to be filled in.

Answers

A report is a business document that consists of predefined data and may have sections for filling in additional information. It serves as a comprehensive record of relevant information and findings, allowing businesses to communicate important details, analyze data, and make informed decisions. Reports can be used for various purposes, such as providing updates on projects, summarizing financial performance, or evaluating market trends.

     A report is a vital business document that consolidates information and presents it in a structured format. It contains predefined data, which can be quantitative or qualitative, that is relevant to the specific purpose of the report. This data serves as the foundation for the report and may include financial figures, statistical data, market research findings, or any other relevant information. Additionally, reports often have sections where additional data can be filled in, allowing for customization or updates to specific areas.

The primary purpose of a report is to provide a comprehensive and concise overview of a particular topic or issue. It acts as a means of communication within a business, conveying important information to stakeholders, management, or clients. Reports can cover a wide range of subjects, such as project updates, sales performance, marketing strategies, feasibility studies, or research findings.

To ensure clarity and consistency, reports generally follow a predefined structure. They commonly include sections such as an executive summary, introduction, methodology, results, and conclusions. The executive summary provides a brief overview of the report's key points, while the introduction sets the context and outlines the objectives. The methodology section explains the research approach or data collection methods employed, while the results section presents the analyzed data and findings. Finally, the report concludes by summarizing the key insights and recommendations based on the presented information.

Reports serve as valuable tools for decision-making within organizations. By organizing and analyzing data, they enable businesses to identify trends, assess performance, and evaluate the effectiveness of strategies or initiatives. Reports also help in tracking progress towards goals and objectives, enabling management to make informed decisions and take appropriate actions.

In summary, a report is a business document that contains predefined data and may include areas for additional information. It serves as a comprehensive record of relevant information, allowing businesses to communicate effectively, analyze data, and make informed decisions. By following a structured format and presenting information in a clear and concise manner, reports play a crucial role in facilitating business communication, evaluation, and decision-making processes.

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what are the potential costs and risks to boeing of outsourcing

Answers

The potential costs and risks to boeing of outsourcing involves hiring contractors, consultants, or another company to perform tasks or provide services that would typically be done in-house. Boeing must consider Costs of outsourcing The main cost of outsourcing is that it can be more expensive than performing the work in-house

In the case of Boeing, outsourcing has been a key part of its business strategy for decades.  This is because outsourcing requires paying the contractor or consultant fees for their services, which can be higher than the cost of hiring and training employees to do the same work.

Additionally, outsourcing can lead to a loss of control over the work being done, which can result in quality issues or delays. Risks of outsourcing One of the risks of outsourcing is that it can lead to a loss of intellectual property. When a company outsources work to another company or individual, they are essentially sharing their knowledge and expertise.

This can lead to the unauthorized use of that knowledge or the theft of intellectual property. Another risk of outsourcing is that it can lead to a loss of control over the work being done. This can result in quality issues or delays, which can impact the company's reputation and bottom line.

Finally, outsourcing can lead to a loss of jobs. When a company outsources work, they are essentially shifting that work to another company or individual, which can result in job losses for the company's employees.

Therefore, while outsourcing can be beneficial for companies in terms of cost savings and access to specialized expertise, it is important to carefully consider the potential costs and risks associated with outsourcing.

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You buy a new commercial stove for $9,000 and estimate that it will enable you to deliver 20 additional meals per night at an average price of $20. Assuming 25% food cost and no additional costs to using the new stove, how long will it take the stove to pay for itself? a)30 days, b) 90 days, c)180 days, d)365 days

Answers

Answer:

a)30 days

Explanation:

For the stove to repay itself, it will have to reach the break-even point.

the costs associated with the are the cost $9000

The gains from the stove:  20 meals per night at $20.

the cost per mean is 25% of the selling price

=25/100 x 20

=0.25 x20

=$5

The profits per meal = $20 -$5 = $15

Profits for 20 meals = $15 x 20 =$300

Dairy income from the stove is $300

To recover the cost, it will take $9000/$300 days.

=30 days

Answer:

30 days

Explanation:

What is any proprietary software licensed under exclusive legal right of the copyright holder? multiple choice question. closed source open source source code user-contributed content

Answers

A closed source is a proprietary software licensed under the exclusive legal right of the copyright holder.

What is copyright?A copyright is a sort of intellectual property that, typically for a certain period of time, grants its owner the sole authority to reproduce, transmit, adapt, exhibit, and perform a creative work.  The creative work could take the form of something musical, artistic, educational, or literary. A creative work's original expression of a concept is what copyright is meant to protect, not the idea itself. Based on criteria of public interest, such as the fair use doctrine in the US, a copyright may be subject to limitations.What purpose does copyright serve?Copyright is crucial because it gives the author, academic, or researcher the power to prevent unauthorized or uncredited use of their work, preserving its value.

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a(n) answer is an objective test or measurement used to evaluate the speed, capacity, capabilities, or productivity of competing technology products.

Answers

A suitable  to the given description is a

a benchmark.

A benchmark is an objective test or measurement that is used to evaluate the speed, capacity, capabilities, or productivity of competing technology products. It provides a standardized way to compare and assess the performance of different products or systems within a specific set of criteria. Benchmarks are often utilized in fields such as computer hardware, software development, and telecommunications to gauge the relative performance of competing technologies and inform purchasing decisions.

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Casey transfers property with a tax basis of $2,100 and a fair market value of $6,500 to a corporation in exchange for stock with a fair market value of $4,200 and $740 in cash in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $1,560 on the property transferred. Casey also incurred selling expenses of $558. What is the amount realized by Casey in the exchange?

Answers

Deferral is an approach utilized by organizations to concede taxation until later dates. In certain cases, it may be advantageous to defer the tax obligation related to an investment or a transaction.

Section 351 of the Internal Revenue Code permits a corporation to receive assets from an investor in exchange for the corporation's stock without realizing any gain or loss for tax purposes. The exchange is tax-deferred.

The amount realized is the total sum of money or its equivalent received or expected to be obtained from the sale or exchange of a property. It is equal to the total value of the consideration given to the property owner. Selling costs, closing expenses, and other transaction costs are typically deducted from the amount realized before the owner calculates their realized gain or loss.

The formula for calculating the amount realized is as follows:

Amount Realized = Money Received + Fair Market Value of Property or Services Received

In this case, Casey transfers property worth $6,500, and the corporation issues stock with a fair market value of $4,200 and $740 in cash. The corporation assumed a liability of $1,560 on the property transferred, and Casey also incurred selling expenses of $558. Therefore,

Amount realized = $6,500 (Fair market value of property) + $4,200 (Fair market value of stock) + $740 (Cash) - $1,560 (Assumption of liability) - $558 (Selling expenses) = $6,382 (Amount realized)

Therefore, the amount realized by Casey in the exchange is $6,382.

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free creditsssssssssssssssssssssssssssss

Answers

Answer:

ty

Explanation:

locking a cell so that others cannot alters its contents is know as

Answers

Answer:

The correct answer is cell protection.

Explanation:

It is when you prevent others to edit or change the contents of certain cells in a sheet. In doing this, you first unlock all cells. Then, select the cells you want to lock then select the option to lock them. Hope this helped.

Answer:

The answer is Cell protection.

discuss how
prices are formed under a perfectly competition market​

Answers

Answer:

In a perfectly competitive market, equilibrium price is determined by the forces of market demand and market supply. Market demand refers to the sum total of demand for a commodity by all the buyers in the market.

Palmona Company establishes a $310 petty cash fund on January 1. On January 8, the fund shows $205 in cash along with receipts for
the following expenditures: postage, $43; transportation-in, $14; delivery expenses, $16; and miscellaneous expenses, $32. Palmona
uses the perpetual system in accounting for merchandise inventory.
1. Prepare the entry to establish the fund on January 1.
2. Prepare the entry to reimburse the fund on January 8 under two separate situations:
a. To reimburse the fund.
b. To reimburse the fund and increase it to $360. Hint. Make two entries.

Answers

The entry to establish the fund on January 1 is: Debit Petty Cash Fund 310, Credit Cash 310

How to prepare journal entry?

1. Entry to establish the fund on January 1:

Debit Petty Cash Fund 310

Credit Cash 310

2a. Entry to reimburse the fund on January 8:

Debit Postage Expense 43

Debit Transportation-In Expense 14

Debit Delivery Expense 16

Debit Miscellaneous Expense 32

Credit Cash 105

2b.8-Jan

Debit Petty Cash $255

($360 - $105)  

Credit Cash  $255

(Being increment of petty cash recorded)  

Therefore the entry is Debit Petty Cash Fund 310, Credit Cash 310.

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Economic growth is most accurately measured by changes in which variable? the capital stock wages real GDP nominal GDP For living standards to rise, what must occur? The labor force must grow faster than the population. Output must grow faster than the population. The capital stock must grow faster than the population. Nominal GDP must grow faster than the population.

Answers

Economic growth is most accurately measured by changes in real GDP. For living standards to rise, output must grow faster than the population, which is achieved through an increase in the capital stock and/or productivity.

The production of products and services inside an economy gradually increasing through time is referred to as economic growth. It is most properly quantified by changes in real Gross Domestic Product (GDP), which adjusts for inflation. The production must expand more quickly than the population in order for living standards to rise; this may be done by increasing the capital stock and/or productivity. Although productivity refers to the effectiveness with which inputs are converted into outputs, capital stock refers to the total amount of physical capital, such as machinery and equipment. An economy may create more products and services with the same number of inputs by growing its capital stock and/or productivity, which raises real GDP and, eventually, raises living standards.

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Another reason fueling the boom in fast-growing technology services is _____, which, when done right, can virally spread awareness of a firm with nary a dime of conventional ad spending.

Answers

Available options are:

A. Esako and M-Pesa

B. Big data and Business analytics

C. Social media

D. Sproxil

Answer:

Social media

Explanation:

Social media is an internet-based or online platform that allows different registered users to share various forms of information and content, among other users, from anywhere across the globe.

Hence, given the available options, Another reason that is fueling the boom in fast-growing technology services is SOCIAL MEDIA, which, when done right, can virally spread awareness of a firm with nary a dime of conventional ad spending.

Provider ______ is the difference between company understanding of customer expectations and the development of customer-driven service designs and standards.

Answers

Answer: Gap 1

Explanation:

The Gap model is used to better understand the problems involved in delivering superior services to customers which can then be overcome for better customer service.

There are 4 gaps and the relevant one here is Gap 1 which is the Listening Gap. Gap 1 is the difference between company understanding of customer expectations and the development of customer-driven service designs and standards.

This Gap is very important to note because the company cannot deliver to its customers effectively if it does not understand what they want in the first place.

The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Sales $ 1,260,000 Selling price per pair of skis $ 450 Variable selling expense per pair of skis $ 50 Variable administrative expense per pair of skis $ 19 Total fixed selling expense $ 155,000 Total fixed administrative expense $ 105,000 Beginning merchandise inventory $ 70,000 Ending merchandise inventory $ 105,000 Merchandise purchases $ 285,000 Required: 1. Prepare a traditional income statement for the quarter ended March 31. 2. Prepare a contribution format income statement for the quarter ended March 31. 3. What was the contribution margin per unit?

Answers

Answer:idk I’m sorry bud

Explanation:

highlight four reasons why a seller would prepare a proforma invoice???​

Answers

Answer:

Pro forma invoices are sent to buyers ahead of a shipment or delivery of goods or services. Most pro forma invoices provide the buyer with a precise sale price. A pro forma invoice requires only enough information to allow customs to determine the duties needed from a general examination of the included goods.

Explanation:

hope i help

Do you think Ruby should change the payment method she uses for her employees? Justify your answer.

Give me the real answers or you will not be able to get brainlist ​

Answers

Answer:

Yes ✌️✌️✌️✌️✌️

If your mom knew that Publix was going to have a big sale on chicken breast next week then her demand for chicken would________________

Increase

Decrease

No Change

Answers

Increase i believe since the chicken breast will be on sale
Other Questions
1) Explain what a limit order is.2) Explain what "residual claim" means PLEASE HELP ME I NEED THIS!!!!How were Senator Huey Longs views on the role of national government different from President Roosevelts views?ResponsesLong felt the government went too far to end the Depression, while Roosevelt believed the government was needed.Long felt government should do more to support big business, while Roosevelt felt government should be separate from business.Long felt unemployment could only be eliminated by means other than works programs, while Roosevelt supported his programs.Long believed in more radical measures to be taken to eliminate poverty than President Roosevel if you drop a metal paperclip into a cup of water, it will sink to the bottom. however, with practice, you can gently place a metal paperclip on the surface of the water and it will balance or appear to float. explain why this happens. Combine Rationa25 points do all pls what are two reasons why people might support trial by jury Why are blank verses used? It is important to eat a variety of foods. Moderation in food consumption is important, too. True or false?. Answer please VVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV which sentence correctly uses punctuation to indicate a pause or break? Please help! I will mark brainlest! Answer the question. HELP!? Please show steps also, thank you!Angle PQR and angle TQV are vertical angles. The measures of the two angles have a sum of 100. Identify the equation that can be used to find the measure of angle TQV and find the value of angle TQV.A. 3x+80=100B. x=6.7C. 2x=100D. 4x=100E. x=25F. x=50 PLEASE HELP ME I BEG IMMA FAILLLLLLLLLLLLLLLLOn a sunny day, a 4-foot red kangaroo casts a shadow that is 5 feet long. The shadow of a nearby eucalyptus tree is 20 feet long. Write and solve a proportion to find the height of the tree. hii, i need help with this word problem :) cuarenta y siete y veintitrs son 8 more than the difference of 10 and 3 written as an expression? Why are the results for the number of mitochondria listed with +/- instead of being an exact number? a. The researchers weren't certain of their counts and wanted to include some room for error. b. The +/- value represents partial mitochondria that were visible in the sample. c. The researchers only estimated the total number of mitochondria in each sample instead of actually counting themd. It is very difficult to identify and count all mitochondria within a cell. e. There is some variability in the number of mitochondria between individual fat cells and individual cats. Compared to controls, the fat cells of cold-stressed cats showed:a. larger mitochondria and smaller cell diameters. b. more, smaller mitochondria. c. more capillaries per cell but smaller mitochondria.d. more mitochondria and larger cell diameterse. larger mitochondria but fewer capillaries per cell. Determine whether the statement is true or false. Explain your reasoning. If itis false, provide a counterexample.Statement: Two triangles that have congruent angles are congruent. what is orderliness The primary principle of Total Quality Management (TQM) is that A. Quality is the job of everyone in an organization - all levels from executives to line workers O B. Quality is primarily the job of the executive leadership C. Quality is primarily the job of the government (NIST) D. Quality can only occur if a company has an ISO 9000 certification E. Quality is primarily the job of the Total Quality Department Look at screen shot below---------------------------------------------------------- Concert Production is planning an appearance of the top band Iggy Wiggy. They plan to buy custom desgined T-shirts to sell at the stadium where the concert will take place. The T-shirt will sell for $25 and the cost per shirt is $8. Previous experience at the Concert Productions suggests that after the concert is over, T-shirts can still be sold, but the selling price will only be $5 per shirt. Based on analysis of previous similar concerts, the company estimates sales of the T-shirt will be 6,000 units. However, the analysis also shows that the standard deviation in similar situations is 800 units.How many Iggy Wiggy T-shirts should the company order?