inclassquestion(編輯修改稿)
2024-09-24 18:14 本頁面
【文章內(nèi)容簡介】 he client has prepaid a $50 expense at the start of the year that is for the next 5 years. For accounting purpose the expense is $50/5=$10. For tax purpose, the client deduct all $50 expenses today. Current tax rate is 20% and the future tax rate is 30%. For book purpose and tax purpose, the ine before the expense of the prepaid assets is $150 for 2020 and $200 for 2020. Fair Value Hedge Assume the client is an oil distributor, and has purchased 100million gallons of gasoline from its supplier refinery on Oct 1 at a cost o $ per gallon. They plan to sell the oil to various airlines in early Jan, but are concerned that, in the mean time, the price of oil might drop considerably from the current selling price of $. To protect the inventory, the client sells a gasoline futures contract based on a wholesale gasoline price index per gallon( underlying) times 00million gallons (the notional amount), with a
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