1. BLP Corporation reported wages expense of $224,000, wages payable of $89,400 at the beginning of the year and wages payable of $71,300 at the end of the year. Cash payments for wages during the year were:
A. $205,900
B. $224,000
C. $242,100
D. $295,300
2. Central Metals, Inc. is considering investing in silver mine. An investment of $500,000 would be made for one year with the following potential outcomes:
|
Rate of Return
|
Probability of Outcome
|
|
150%
|
0.10
|
|
60%
|
0.25
|
|
35%
|
0.50
|
|
(100%)
|
0.1
|
The expected rate of return for this investment is: