Your job pays you only once a year for all the work you did over the previous 12 months. Today, December 31, you just received your salary of $68,000 and you plan to spend all of it. However, you want to start saving for retirement beginning next year. You have decided that one year from today you will begin depositing 10 percent of your annual salary in an account that will earn 10.8 percent per year. Your salary will increase at 2 percent per year throughout your career. How much money will you have on the date of your retirement 35 years from today
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Answer:
g
Explanation:
Related Questions
what is the minimum wage for SA
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the new National Minimum Wage for South Africa has been made public by the Department of Employment and Labour. Starting on March 1st, 2023, the current minimum wage of R23,19 per hour will increase to R25,42 per hour (an increase of around 9,6%).
The minimal amount of compensation that an employer is compelled to pay wage earners for the job completed during a particular period, which cannot be reduced by a collective agreement or an individual contract, is referred to as the "minimum wage."The South African government may impose penalties on employers who fail to pay the minimum wage. If a defined weekly wage is used, the monthly wage is multiplied by 4.33. If an hourly rate is specified, it is computed as 4.33 times the weekly average.
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Outline how a caller’s experiences affect their view of an organisation
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The marketing environment includes things such as demographic factors, economic factors, ecological factors, technology factors, political environment, and cultural environment.
True
False
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Troy Juth wants to purchase new dive equipment for Underwater Connection, his retail store in Colorado Springs. He was offered a $63,000 loan at 8.5% for 24 months. What is his monthly payment by table lookup? (Use Table 14.2)
Note: Round your answer to the nearest cent.
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If he was offered a $63,000 loan at 8.5% for 24 months. His monthly payment by table lookup is : $3071.
What is monthly payment?Monthly payment can be defined as the amount a person received on a monthly basis.
First step is to convert the month to year
Month to year = 24 / 12
Month to year = 2 years
Second step is to find the interest using this formula
I = P × R×T
Where:
I = Interest
P = Principal
R = rate
T = time
Hence
I = 63,000 × 2 × 8.5%
I = 10,710
So,
P+ I = 63,000 + 10,710
P+I = 73,710
Now let find the monthly payment:
Monthly payment = 73,710 / 24 months
Monthly payment = $3,071.25.
Monthly payment = $3,071 (Approximately)
Therefore the monthly payment is the amount of $3071
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A Kubota tractor acquired on January 8 at a cost of $315,000 has an estimated useful life of 10 years. Assuming that it will have no residual value. a. Determine the depreciation for each of the first two years by the straight-line method. First Year Second Year $fill in the blank 1 31,500 $fill in the blank 2 31,500 b. Determine the depreciation for each of the first two years by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your final answers to the nearest dollar.
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Answer:
A. Year 2 $31,500
Year 2 $31,500
B. Year 1 = 63,000
Book Value of Tractor $252,000
Year 2 $ 50,400
Book Value of Tractor $201,600
Explanation:
a. Calculation to Determine the depreciation for each of the first two years by the straight-line method
Year 1 = $315,000 / 10
Year 1 = $31,500
Year 2 = $315,000 / 10
Year 2= $31,500
B) Calculation to determine the depreciation for each of the first two years by the double-declining-balance method
Based on the information given we are first going to calculate the percentage of depreciation using straight line method and then double it
Percentage = $ 315,000 *10%
Percentage=$31,500
Now let depreciation the book value each year by 20% Using the double-declining-balance method method
Year 1=20% of $ 315,000
Year 1= 63,000
Book Value=$315,000 - $63,000
Book Value= $ 252,000
Year 2= 20% of 252,000
Year 2 = $ 50,400
Book Value=$ 252,000 -$50,400
Book Value= $201,600
Acme Solutions often hires Nicco to train its employees. He is paid $300 for every session. His job also requires him to travel once a month to different branches of Acme Solutions and train employees there. When he is required to travel, the company pays him $450 per session. All training materials have to be provided by Nicco himself. When he is not hired by Acme Solutions, Nicco works for other smaller companies as a trainer. Thus, Nicco is mostly like a(n):
Answers
Answer:
individual contractor for Acme Solutions
Explanation:
In the scenario being described Nicco is most likely an individual contractor for Acme Solutions. This means that he does not technically represent Acme Solutions and is not an official employee of the company. Instead, Acme Solutions hires Nicco on a per-job basis when they need him to fulfill a specific job and/or provide his unique expertise on something. Which is why they require that he provides all the training material since that is the experience that they are hiring him to provide.
A hospital in The Upper Cumberland area bought a diagnostic machine at a cost of
$40,000. Maintenance cost is expected to remain constant throughout the life of this machine at $2,000 per year. The salvage value is estimated to be "0" at the end of the useful life of 10 years. Determine the economic life of this machine. MARR = 10%
A. 5 years
B. 1 year
C. 10 years
D. 7 years
Answers
AW = P(A/P, i, n) + A(F/P, i, n)
where P is the initial cost of the machine, A is the annual maintenance cost, i is the MARR, and n is the useful life of the machine.
Substituting the given values, we get:
AW = 40000(A/P, 10%, 10) + 2000(F/P, 10%, 10)
Using the A/P and F/P factors from the tables, we get:
AW = 40000(0.162) + 2000(6.145)
AW = 6480 + 12290
AW = 18770
Since the AW is positive, the investment is economically justified. To find the economic life of the machine, we need to find the value of n that makes the AW equal to zero. We can use trial and error to find the value of n that makes the AW closest to zero. Trying n = 5, we get:
AW = 40000(A/P, 10%, 5) + 2000(F/P, 10%, 5)
AW = 40000(0.2638) + 2000(3.791)
AW = 10552 + 7582
AW = 18134
Trying n = 7, we get:
AW = 40000(A/P, 10%, 7) + 2000(F/P, 10%, 7)
AW = 40000(0.1895) + 2000(4.868)
AW = 7580 + 9736
AW = 17316
Therefore, the economic life of the machine is approximately 7 years, which is closest to D. 7 years.
In 2012, XYZ Inc., a medical equipment distributor, sold 10,000 units of its hospital beds at an average price of $500 per unit. The company reported estimated returns and allowances of $200,000. The company purchased 11,000 units of its product from its manufacturer in 2012 at an average cost of $350 per unit. XYZ began 2012 with 1,000 units of its product in inventory (carried at an average cost of $300 per unit). Operating expenses (excluding depreciation) in 2012 were $400,000, and the depreciation expense was $100,000. XYZ had $2,000,000 in debt outstanding throughout all of 2012, which carried an average interest rate of 10%. The company’s tax rate is 40%. Its fiscal year runs from January 1 through December 31. Given this information, prepare the following documents: a. XYZ’s 2012 income statement b. XYZ’s 2012 ending inventory balance (both in unit and in dollar terms)
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a. The preparation of XYZ's Income Statement for the year ended December 31, 2012 is as follows:
Net sales revenue $4,800,000
Cost of goods sold 3,450,000
Gross profit $1,350,000
Operating expenses 400,000
Depreciation expense 100,000 500,000
Operating income $850,000
Interest Expense 200,000
Income before taxes $650,000
Taxes (40% x $650,000) 260,000
Net income $390,000
b. The ending inventory balance of XYZ's 2012 is as follows:
Units = (Beginning inventory + Purchases - Sales)
= 2,000 beds (1,000 + 11,000 - 10,000)
Dollars = $700,000 (2,000 x $350).
Data and Calculations:
Units of beds sold = 10,000
Average price per unit = $500
Sales revenue = $5,000,000
Estimated returns and allowances = $200,000
The Net sales revenue is $4,800,000 ($5,000,000 - $200,000).
The Cost of goods sold is $3,450,000 (9,000 x $350 + 1,000 x $300).
The Ending inventory is $700,000 (2,000 units x $350).
Operating expenses = $400,000
Depreciation expense = $100,000
Interest expense = $200,000 ($2,000,000 x 10%)
Tax rate = 40%
Thus, the ending inventory balance of XYZ's 2012 is 2,000 beds, worth $700,000.
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Calculating Cost of Debt For the firm in the previous problem, suppose the book value of the debt issue is $35 million. In addition, the company has a second debt issue on the market, a zero coupon bond with 12 years left to maturity; the book value of this issue is $80 million and the bonds sell for 61 percent of par. What is the company’s total book value of debt? The total market value? What is your best estimate of the aftertax cost of debt now?
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The best estimate of the aftertax cost of debt for the firm is 3.47% in the given case.
To calculate the total book value of debt, we sum the book values of both debt issues:
Total book value of debt = Book value of debt issue 1 + Book value of debt issue 2
Total book value of debt = $35 million + $80 million
Total book value of debt = $115 million
To calculate the market value of the zero coupon bond, we need to find 61% of the face value:
Market value of zero coupon bond = 0.61 x Face value of zero coupon bond
Market value of zero coupon bond = 0.61 x $80 million
Market value of zero coupon bond = $48.8 million
The total market value of debt is the sum of the market values of both debt issues:
Total market value of debt = Market value of debt issue 1 + Market value of debt issue 2
Total market value of debt = $35 million + $48.8 million
Total market value of debt = $83.8 million
To find the aftertax cost of debt, we need to first calculate the yield to maturity on the zero coupon bond. We know that the bond has 12 years left to maturity and sells for 61% of par, so we can use the following formula to find the yield to maturity:
61% of face value = $48.8 million
Par value = $100 million
Years to maturity = 12
Yield to maturity = ?
Solving for the yield to maturity using a financial calculator or spreadsheet, we get:
Yield to maturity = 4.83%
Next, we need to find the aftertax cost of debt for both debt issues separately and then weight them by their respective market values. We are given that the company's tax rate is 40%.
For the first debt issue, we are given that the coupon rate is 8% and that the bonds are currently selling at par, so the beforetax cost of debt is 8%. The aftertax cost of debt is:
Aftertax cost of debt issue 1 = Beforetax cost of debt issue 1 x (1 - Tax rate)
Aftertax cost of debt issue 1 = 8% x (1 - 40%)
Aftertax cost of debt issue 1 = 4.8%
For the zero coupon bond, we already calculated the yield to maturity, which is the beforetax cost of debt. The aftertax cost of debt is:
Aftertax cost of debt issue 2 = Beforetax cost of debt issue 2 x (1 - Tax rate)
Aftertax cost of debt issue 2 = 4.83% x (1 - 40%)
Aftertax cost of debt issue 2 = 2.90%
Finally, we can weight the aftertax costs of debt by their respective market values to get the overall aftertax cost of debt:
Overall aftertax cost of debt = (Market value of debt issue 1 / Total market value of debt) x Aftertax cost of debt issue 1 + (Market value of debt issue 2 / Total market value of debt) x Aftertax cost of debt issue 2
Plugging in the numbers, we get:
Overall aftertax cost of debt = ($35 million / $83.8 million) x 4.8% + ($48.8 million / $83.8 million) x 2.90%
Overall aftertax cost of debt = 3.47%
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how can I draw the circular flow of Income in an open economy?
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The unending flow of goods and services, income, as well as expenditure in an economy is referred to as the circular flow. It depicts the circular redistribution of income between the production unit and households. Land, labour, capital, as well as entrepreneurship are examples of these.
The circular flow of diagram's outer loop depicts the flow of factor services from households to firms, as well as the corresponding flow of payments for factors from firms to households.
The inner loop depicts the flow of goods and services from firms to households, as well as the flow of consumer spending from households to firms. The entire amount of money paid by firms as factor payments is returned to the firms by the factor owners.
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g The low cost of labor in other countries around the globe is a factor that business must consider because they are impacted by:
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Answer:
The low cost of labor in other countries around the globe is a factor that business must consider because they are impacted by:
the high cost of domestic labor.
Explanation:
An entity's ability to be globally competitive in the face of foreign manufacturers with low cost of labor is not helped by the high cost of domestic labor. The cost of direct labor forms part of the computations for the cost of a product and its pricing. Cheaper imports are more affordable to consumers than local products, thus causing consumers to prefer imports to domestic products.
What do researchers mean by "secondary data"? A. Data collected specifically for the researcher's own study B. Information from research already conducted for another purpose C. Data collected after any research to gather primary data D. Data considered less important than primary data
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Answer:
B. Information from research already conducted for another purpose
Explanation:
Consider the following BPMN diagram:
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If we look at the process model, we can see that Task A is the first task and must always be completed in order for the model to be run. Further observation reveals that because an exclusive gateway is employed, any of the two jobs, B and C, is carried out individually rather than simultaneously. As we continue to move through the BPMN diagram, we see that task M is the conversing task and is therefore always run along with a networks message flow from it to task F, which is done as soon as a message is received in pool 2 and finishes.
An item of networking hardware or software called a gateway is used in telecommunications networks to allow data to go from one distinct network to another.
The way that gateway differ from routers and switches is that they can join various networks using more than one protocol to communicate and that they can function at any of the seven OSI levels.
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What might be an example of corporate social responsibility?
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Participating in fair trade might be an example of corporate social responsibility.
What is corporate social responsibility?Corporate social responsibility (CSR) is a kind of global privately owned personality that tries to support altruistic, activist, or philanthropist social goals by participating in or encouraging volunteer work or other morally upstanding behaviors.
Involving fair trade practices could be an example of corporate social responsibility a person may have. This would involve the person will not participate in black marketing or hoarding. Or so the quality of the product that will be provided is substantial.
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A great way to ontain hands-on training in a real work environment is to complete a(n)
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Answer:
It's c, apprenticenship
Many people who do not smoke cigars are bothered by the odor of cigar smoke. If private contracting is impossible, will too many or too few cigars be pro-duced and consumed? Taking all costs into account, is the market price of cigars too high or too low?
Answers
If private contracting is impossible in producing cigars, too few cigars would be produced and consumed. If all costs are taken into account, the market price of cigars is too low.
What happens if private companies can't produce cigars?The government usually bows to the will of the people and if many people don't like cigars, the government won't produce it so few will be consumed.
The fact that many people are affected negatively by the smell of cigars means that cigars are too cheap if the healthcare costs to people are taken into account.
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Ocean Company estimated that April sales would be 150,000 units with an average selling price of $6.00. Actual sales for April were 149,000 units, and average selling price was $6.12. The sales revenue flexible budget variance was: A. $6,120 favorable. B. $17,880 favorable. C. $6,000 unfavorable. D. $17,880 unfavorable.
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Answer:
B. $17,880 favorable.
Explanation:
Sales revenue flexible budget variance = (149,000 units × $6.12 per unit) − (149,000 units × $6.00 per unit)
Sales revenue flexible budget variance = $911,880 − $894,000 = $17,880 favorable
Since actual sales were greater than the flexible budget amount, the variance is favorable.
Judi Pendergrass is an account representative at Ever Pharmaceuticals. She has a company car for customer visits, which she uses to commute from work to home on Friday nights and from home to work on Monday mornings, 50 weeks per year. Her commute is 26 miles in each direction.Required:Using the commuting rule, what is the valuation of the fringe benefit?
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The valuation of the fringe benefit will be 3600.
How to calculate the benefits?The valuation of the fringe benefit will be calculated thus:
= (2 × miles in each direction) × number of weeks × benefit rate
= (2 × 24) × 50 × 1.50
= 48 × 59 × 1.50
= 3600
In conclusion, the valuation of the fringe benefit will be 3600.
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ABC company compares the way they manage projects with the way rival NBC company manages projects. ABC company is engaged in: A) corporate espionage. B) ring level 0. C) competitive benchmarking. D) cutting
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Option A is correct. ABC company is engaged in corporate espionage. Corporate espionage is espionage carried out for financial or commercial gain. Industrial espionage is another name for corporate espionage.
Corporate espionage, often referred to as industrial espionage, corporate spying, or economic espionage, is a crime that entails stealing a company's sensitive data and information. Corporate espionage takes place between competing corporations when an MI6 spy acts on behalf of the government to uncover worldwide secrets.
Here are some instances of typical forms of industrial espionage.
IP thievery Espionage of this kind might take many different shapes. ...
Trespassing on another person's property; firing employees; wiretapping or listening in on a rival; and so on.
malware attacks against computers.
Corporate espionage is the illegal taking or acquisition of intellectual property, including important trade secrets, patent information, manufacturing methods, concepts, and formulas.
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Cost of Goods Sold Allyson Ashley makes jet skis. During the year, Allyson manufactured 94,000 jet skis. Finished goods inventory had the following units: January 1 6,800 December 31 7,200 Required: 1. How many jet skis did Allyson sell during the year? units 2. If each jet ski had a product cost of $2,200, what was the cost of goods sold last year? $
Answers
Answer:
1. Number of Jetskis sold = 93,600
2. cost of Jetskis sold = $205,920,000
Explanation:
First, let us lay out the information given clearly:
January 1 finished goods inventory = 6,800
December 31 finished goods inventory = 7,200
number of Jet skis manufactured = 94,000
1. Number of Jet skis sold:
let us calculate the total number of jetskis that were available throughout the year
Total number of Jet skis in stock during the year = number of Jet skis manufactured + January 1 finished goods inventory (beginning inventory)
Total number of Jet skis in stock during the year = 94,000 + 6,800
Total number of Jet skis in stock during the year = 100,800
Number of Jetskis sold = (Total number of Jet skis in stock during the year) - (December 31 finished goods inventory)
Number of Jetskis sold = 100,800 - 7,200 = 93,600
2. cost of good sold:
product cost of 1 Jetski = $2,200
Number of Jetskis sold = 93,600
∴ Cost of Jetskis sold last year = 93,600 × 2,200 = $205,920,000
I need help w/ this! No links please.
The subject is Economics/Business.
Answers
Answer:
The correct answer is dividends
Explanation:
Dividends are corporate earnings that companies pass on to their shareholders.
A contingent liability is:
Answers
Answer:
In accounting, contingent liabilities are liabilities that may be incurred by an entity depending on the outcome of an uncertain future event such as the outcome of a pending lawsuit.
Explanation:
These liabilities are not recorded in a company's accounts and shown in a type of balance sheet when both probable and reasonably estimable as 'contingency' or 'worst case' financial outcome. The likelihood of loss is described as probable, reasonably possible, or remote. The ability to estimate a loss is described as known, reasonably estimable, or not reasonably estimable. It may or may not occur.
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SBA a business from any of the THREE sectors and conduct a research using newspaper clips, business articles, any business magazines, News 24 and a other business websites to answer the following Research (Part A) for your Select a business business questions. (Collect FIVE resources) must be NB After choosing the sector you able to motivate your answer then provide picture/ newspaper article of the business -You must identify challenges experienced by the business and classify those challenges according to the three Business Environments and state the extent of control.
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Selecting a business from one of the three sectors, conducting research using newspaper clips, business articles, any business magazines, News 24, and other business websites to answer research (Part A) questions. This article will discuss the challenges faced by the business and classify them based on the three business environments. The business selected for this research is Sasol, which belongs to the primary sector. Sasol is an integrated energy and chemicals firm with operations in over 30 countries and more than 30,000 employees. It mines coal and convert it into synthetic fuels and chemical feedstock. Sasol operates in a challenging environment, and it faces many challenges. However, in this research, we will discuss the most important challenges faced by Sasol. The following are the difficulties Sasol faces: Environmental challenges: Sasol is a large company, and it emits greenhouse gases, which affect the environment. Furthermore, environmental regulations have become more stringent, which is a significant challenge for the company. Sasol must adhere to environmental regulations, which will impact its operations. Sasol must also protect its reputation, which is critical to its success. Sasol should be proactive in responding to environmental challenges by investing in renewable energy and ensuring that it adheres to environmental regulations. Economic challenges: Sasol faces economic challenges, including fluctuating oil prices, currency volatility, and rising operating costs. These issues are beyond the company's control, and they can have a significant impact on Sasol's financial performance. Sasol must adapt to economic changes by diversifying its revenue streams and improving its operational efficiency. Social challenges: Sasol faces social challenges such as workforce diversity, employee engagement, and community relations. Sasol must address these challenges by fostering a diverse and inclusive culture, promoting employee engagement, and engaging with the community. Sasol must also ensure that its business practices align with the expectations of its stakeholders, including customers, employees, and investors. In conclusion, Sasol faces many challenges, which can be classified into three categories: environmental, economic, and social. Sasol has limited control over some of these challenges, but it must be proactive in responding to them to ensure its long-term success.
A business that you can select for this analysis is the importation of cars into a country. Some challenges that may affect the importation of cars include import duties and trade agreements between nations.
What are business challenges?Business challenges refer to those problems that are encountered by entrepreneurs who want to go into any area of trade. For those into the importation of cars and other such items, excessive import duties might be limiting to them.
They may also experieice trade agreements sbetween nations and rising forex that amy not be favorable for trade.
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Applications that can be picked up at places of employment are known as:
0000
employment resumé.
paper applications.
online applications.
None of these choices are correct.
Answers
Applications that can be picked up at places of employment are known as B. paper applications.
What are paper applications ?In many workplaces, job seekers can obtain a paper application form from the employer, either by visiting the company's physical location or by requesting one through mail or email.
Paper applications typically require the applicant to fill out personal information, employment history, and educational background, along with any other relevant details that the employer may require. Online applications can be more convenient and efficient for both the employer and the job seeker, as they allow for easier tracking and management of applications.
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What is macroeconomics?
Answers
Answer:
Macroeconomics is the study of large scale economic issues such as those which affect the entire economy. This is in contrast to Microeconomics which looks at smaller scale economic principles. Macroeconomics is a highly practical discipline as it deals with principles that directly impact every part of life.
A company has total assets of $150,000; total liabilities of $50,000 and total equity of $100,000. What is this company’s debt-to-equity ratio?
Answers
Answer:
150,000-50,000÷ 100,000= 1 ratio
An electronics manufacturer in Japan creates a strategic partnership with a
large retailer in the United States. They both invest funds into the partnership
and share in the control of the distribution and resources. The Japanese
company gets a tax advantage because of this partnership, and the U.S.
company gets an advantage because of the exclusivity agreement to carry
these electronic products. Which type of global entry strategy does this
example highlight?
Answers
Answer:
Creating a joint venture.
Explanation:
A foreign direct investment (FDI) can be defined as an investment made by an individual or business entity (investor) into an investment market (industry) located in another country. The investor here, shares a different country of origin from the country where his investment is located. In a foreign direct investment (FDI), an investor must establish his business, factory and operations in a foreign country or acquire assets in a business that is being operated in a foreign country.
Additionally, foreign direct investment (FDI) are categorized into three (3) main types and these are;
1. Vertical FDI: it involves establishing a different business that is however similar to the main business owned by the investor.
2. Horizontal FDI: it involves establishing the same type of business in a foreign country as owned in the investor's country.
3. Conglomerate FDI: it involves establishing a business that is completely different in another (foreign) country.
A joint venture can be defined as a type of business partnership which typically involves making direct investment in a foreign country with a domestic partner. It is typically established or initiated by two or more people on mutual grounds to make profits and sharing costs.
In this scenario, an electronics manufacturer in Japan creates a strategic partnership with a
large retailer in the United States.
Thus, the type of global entry strategy which this example highlight is creating a joint venture.
The area of law that protects Coca-Cola® (with is accompanying ®) is
trademark.
patent.
copyright.
contract.
Answers
Answer:
Trademark
Explanation:
The “R” inside the circle stands for “registered.” The “R” and circle together form the federal trademark registration symbol. In commerce, the symbol shows that your business officially owns its trademark by U.S. Patent and Trade Office (pto.gov) standards.
Note:
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During 2021, Angel Corporation had 990,000 shares of common stock and 95,000 shares of 6% preferred stock outstanding. The preferred stock does not have cumulative or convertible features. Angel declared and paid cash dividends of $390,000 and $195,000 to common and preferred shareholders, respectively, during 2021. On January 1, 2020, Angel issued $2,090,000 of convertible 5% bonds at face value. Each $1,000 bond is convertible into five common shares. Angel's net income for the year ended December 31, 2021, was $7.35 million. The income tax rate is 25%. What is Angel's basic earnings per share for 2021, rounded to the nearest cent
Answers
Answer:
$7.23
Explanation:
Basic Earnings per share = (Net Income - Preferred Dividend) / Weighted average of outstanding common shares
Basic Earnings per share = ($7,350,000 - $195,000) / 990,000 shares
Basic Earnings per share = $7,155,000 / 990,000 shares
Basic Earnings per share = 7.22727273
Basic Earnings per share = $7.23
So, the amount of Angel's basic earnings per share for 2021 is $7.23.
Joe bought a stock at $57 per share. The price promptly fell to $55. Joe held on to the stock until it again reached $57, and then he sold it once he had eliminated his loss. If other investors do the same to establish a trading pattern, this would contradict _______. Multiple Choice the strong-form EMH the semistrong-form EMH technical analysis the weak-form EMH
Answers
Explanation:
Weak form efficiency is also called The random walk theory States that past volume, Price movements and earnings do not affect the Price of a stock and cannot be used to forecast it’s future directions. Weak form efficiency States that prices of future securities Are random and not determined by past events and that there is no relationship between past information in current market prices.
The principle of weak form efficiency has been contradicted because other investors are making use of Joe’s past information to create a trading pattern.
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