Jun complains to his friend about the phone he recently boug…

Jun complains to his friend about the phone he recently bought: “This phone’s no good. It’s made of cheap materials, there’s not enough memory, and it’s too small.” Jun’s use of the word “good” indicates that he is referring to the phone’s ___________ value.

Algernon, a small proprietorship owned by an unmarried indiv…

Algernon, a small proprietorship owned by an unmarried individual, has a taxable income of $90,000. What is its tax bill if the tax rates are 10% on the first $12,000, 12% on the next $50,000 (between 12,000 and 62,000 income), and 22% on the remaining income?