Exercise 5-24 (Algorithmic) (LO. 1, 2) Leland pays premiums of $39,750 for an insurance policy in the face amount of $198,750 upon the life of Caleb and subsequently transfers the policy to Tyler for $59,625. Over the years, Tyler pays subsequent premiums of $11,925 on the policy. Upon Caleb's death, Tyler receives the proceeds of $198,750. As a result, what amount is Tyler required to include in his gross income

Which economic system could be characterized by the "iron fist", meaning a central authority figure has control over most of the economy? market economy command economy traditional economy free enterprise economy

"in my opinion, we ought to stop making our own drums and accept that outside supplier's offer," said wim niewindt, managing director of antilles refining, n.v., of aruba. "at a price of $21 per drum, we would be paying $4.70 less than it costs us to manufacture the drums in our own plant. since we use 70,000 drums a year, that would be an annual cost savings of $329,000." antilles refining's current cost to manufacture one drum is given below (based on 70,000 drums per year):

Amajor advantage of case studies is