1. Gary’s Clothing Store has sales of $670,000 and costs of $460,000. Interest expense is $50,000 and depreciation is $55,000. The tax rate is 34%. What is the net income?
2. TIPS-What were the a) first and b) second semi-annual interest payments received on December 31, 2017 and June 30, 2018 for a 1.50% 10-year Treasury inflation-indexed note that was issued on June 30, 2017 if the annual CPI-U inflation rate for the periods ending 12/31/2017 and 6/30/2018 were 1.50% and 2.00%, respectively?
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