AMC will claim a tax credit of $60 million (direct reduction in taxes payable) this year. AMC also believes the likelihood that $60 million, $36 million, or $12 million tax credit will be sustained upon tax audit next year is 25%, 30%, and 45%, respectively. Otherwise, AMC's taxable income is $520 million for the year. The effective tax rate is 25%. What is AMC's associated "Liability - Uncertain tax positions" for the year?

a.$130 million.

b.None of the choices are correct.

c.$24 million.

d.$70 million.

e.$94 million.

IC Leasing leased electronic equipment to Georgia-Atlantic on January 1, 2021. IC Leasing purchased the equipment from International Machines at a cost of $153,255.Here is the related information:

Leaseterm2 years (8 quarters)

Quarterlypayments$20,000 at the beginning of each period

Economiclife2 years

Fair value ofasset$153,255

Annualimplicit rate5%

What do the lessee's entries include on April 1, 2021?

a.Debit Lease Payable by $20,000

b.Credit Lease Payable by $18,334 and Credit Cash by $20,000

c.Credit Lease Payable by $20,000

d.None of the answers are correct

e.Debit Lease Payable by $18,334 and Credit Cash by $20,000

Consider the following information about a lease contract:

Lease type: Finance lease. Annual lease payments:$100,000 are payable at the beginning of each year. Lease term: 8 years. Lessor's and lessee's interest rate: 12%. Guaranteed residual value by the lessee: $60,000. Estimated residual value at the end of the lease term: $40,000.

Determine the lessor's Lease Receivable.

a.0

b.564,454

c.580,609

d.None of the answers.

e.560,415