Which brand is generally recognized as the first hotel chain?
A) Hilton
B) Hyatt
C) Hampton
D) Holiday Inn

In Vogel's approximation method for profit maximization problems, row and column penalties are determined by finding the difference between the two lowest unit costs in each row and column (option C).

This is because Vogel's method aims to allocate resources in a way that minimizes the difference between the lowest and next-lowest costs. By penalizing rows and columns with large differences between these costs, the method encourages the allocation of resources to options that are more cost-effective.

Thus, the use of Vogel's method can help to optimize the allocation of resources, allowing businesses to maximize their profits and minimize waste. By calculating the difference between the two lowest unit costs, VAM identifies the cells with the highest opportunity costs, which will result in the most profit when resources are allocated to them. The correct option is C.

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A strategic vision provides many benefits, but the option that is not one of those benefits is D. diminished employee participation.

A strategic vision helps by providing A. a clear future direction, B. a framework for their organization's mission and goals, and C. enhanced employee communication and commitment.  

Diminished employee participation is not one of the benefits. In fact, a strategic vision can increase employee participation by giving them a clear understanding of the organization's goals and how they can contribute to achieving those goals.

However, it does not lead to diminished employee participation; instead, a well-communicated strategic vision often encourages employee engagement and collaboration in achieving the organization's objectives.

Hence, option d. is correct.

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Yes, a manager or supervisor can empower an employee. Empowerment refers to the process of enabling and giving an employee the authority to make decisions, take ownership of their work, and have the freedom to act independently within their role.
By empowering an employee, a manager or supervisor can encourage them to be more engaged, motivated, and confident in their abilities. This can lead to increased productivity, better problem-solving skills, and a stronger sense of accountability. To empower an employee, a manager or supervisor can delegate tasks and responsibilities that align with the employee's strengths and skills. They can also provide training and development opportunities to enhance their knowledge and abilities. Additionally, managers can offer support and guidance when needed, while allowing the employee to take ownership of their work and make decisions. Overall, empowering employees can lead to a more positive work environment, increased job satisfaction, and better results for the company. It's essential for managers and supervisors to recognize the value of empowering their employees and to actively work towards creating a culture that encourages and supports empowerment.

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JM should record the cost of the new machine as $45,000. They should record a loss of $10,000 on the exchange. AB should record the cost of the new truck as $68,000. They should record a gain of $2,500 on the exchange.

Situation 1:

JM should record the cost of the new machine as the list price minus the trade-in allowance. Therefore, the cost of the new machine would be $150,000 - $105,000 = $45,000.

Since the fair value of the used machine is less than its book value, JM should record a loss on the exchange. The loss would be calculated as the book value of the used machine ($100,000) minus the fair value of the used machine ($90,000), resulting in a loss of $10,000.

Situation 2:

AB should record the cost of the new truck as the fair value of the used truck plus any additional payment made. Therefore, the cost of the new truck would be $60,000 + $8,000 = $68,000.

Since the fair value of the used truck is greater than its book value, AB should record a gain on the exchange. The gain would be calculated as the fair value of the used truck ($60,000) minus the book value of the used truck ($57,500), resulting in a gain of $2,500.

Situation 3:

DDC should record the cost of the new crane as the fair value of the new crane. Therefore, the cost of the new crane would be $110,000.

Since the exchange lacks commercial substance, DDC should not recognize a gain or loss on the exchange. Instead, DDC should use the carrying amount of the old crane ($120,000) as the cost basis for the new crane.

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An auto shop's repair area, also known as a service bay, typically includes several essential components to ensure efficient and effective vehicle maintenance and repair.

This area often features hydraulic lifts or ramps, allowing technicians to easily access the undercarriage of vehicles for tasks like oil changes and suspension repairs. Additionally, it is equipped with toolboxes containing specialized tools such as wrenches, sockets, and diagnostic equipment to accurately identify and address issues.

A well-organized workbench and storage system is also present for quick access to commonly used parts and materials. Lastly, a clean and well-lit environment is crucial for both safety and precision, which includes proper ventilation to maintain air quality while working with hazardous materials like chemicals and vehicle emissions.

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Incident types 3, 4 and 5 make up what percentage of all incidents are given by 95%.

Accidents, events, or close calls at work are documented in writing in an incident report. These reports are essential for documenting the specifics of events like property damage, personal injury, health and safety concerns, security breaches, and employee misconduct. Incident reports should be filed by businesses because they provide clear documentation of any workplace incidents.

When a workplace incident or accident occurs, it is advantageous for a business to have an accurate and timely report filed. In order to take steps to prevent similar mishaps from occurring in the future, reports should specify where problems have arisen within the organization. When a business takes incident reporting seriously, it shows that workplace safety is a top priority and that it keeps track of all incidents and events, big and small.

Occurrence reports are considerably more than a record-keeping instrument. Associations, workers, the board, and even specialists benefit from the data gave in episode reports. The top three advantages of reporting incidents at work include the following, despite the fact that these reports provide an organization with numerous useful resources:

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Complete question;

Incident types 3, 4 and 5 make up what percentage of all incidents ___.

The patient coinsurance percentage required under Plan R1 is not provided.

Unfortunately, the information regarding the patient coinsurance percentage required under Plan R1 is not available. The coinsurance percentage is a portion of the medical expenses that the patient is responsible for paying out-of-pocket, typically after meeting the deductible.

To determine the patient coinsurance percentage under Plan R1, it would be necessary to refer to the specific details and terms of the plan. This information could be found in the plan documents, insurance policy, or by contacting the insurance provider directly.  It is important for individuals to review their insurance plan documents or consult with their insurance provider to understand the specific coinsurance percentage and other details of their coverage under Plan R1.

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According to Mischel, the most effective strategy to stop yourself from eating a piece of delicious chocolate cake would be to use "cool" cognitive strategies.

Mischel believed that people could control their impulses and delay gratification by using cognitive strategies. "Hot" strategies, such as simply resisting temptation or relying on willpower, were found to be less effective than "cool" strategies. Cool strategies involve changing the way you think about the tempting stimulus, such as distracting yourself, imagining the negative consequences of giving in, or focusing on a long-term goal. Therefore, if you want to resist the temptation of a delicious chocolate cake, you could distract yourself by doing a task, imagine the negative effects of eating the cake (such as gaining weight), or focus on your long-term goal of staying healthy. Using cool strategies can help you to resist temptation and make healthier choices.

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The adjusting entry at December 31, 2022, is necessary to report the trading debt securities of Sunland, Inc. at fair value.

To prepare the adjusting entry, we need to determine the amount of the unrealized loss on the securities. The fair value of the securities is $48,792, which is less than the cost of $54,000. Therefore, the unrealized loss is $5,208 ($54,000 - $48,792).

The adjusting entry will be as follows:

Loss on Trading Debt Securities $5,208
   Unrealized Loss on Trading Debt Securities $5,208

This entry will reduce the value of the securities to their fair value of $48,792 and recognize the unrealized loss on the income statement. By doing so, Sunland, Inc. will be in compliance with the Generally Accepted Accounting Principles (GAAP), which requires that trading debt securities be reported at fair value.

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The given statement, "economic activity has a significant influence on corporate information management" is false because Economic activity impacts a company's decisions, strategies, and overall operations, making it essential for effective corporate information management to adapt and respond to these changes.

In times of economic growth, organizations may invest more heavily in information management systems and technologies to improve their efficiency, productivity, and competitiveness. Conversely, during economic downturns, organizations may cut back on their information management spending to reduce costs.

Additionally, economic factors such as inflation, interest rates, and currency fluctuations can impact the cost and availability of resources needed for information management. Therefore, economic activity is an important consideration for organizations in managing their information effectively and efficiently.

Overall, economic activity can have a significant influence on how organizations approach their information management strategies. By considering economic factors and aligning their information management practices with their business goals and objectives, organizations can better manage their information resources and improve their overall performance.

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When Mexico suffered from capital flight in 1994, Mexico's real interest rate increased significantly.

During the 1994 Mexican peso crisis, also known as the "Tequila Crisis," Mexico experienced a significant outflow of foreign capital as investors lost confidence in the country's economic stability. To attract capital and stabilize the situation, the Mexican government raised interest rates, including the real interest rate.

The real interest rate represents the nominal interest rate adjusted for inflation. By increasing the real interest rate, Mexico aimed to make its financial assets more attractive to investors, encouraging capital inflows and stabilizing its currency.

Raising the real interest rate was one of the measures taken by Mexico to restore confidence and address the capital flight during the crisis. By increasing the real interest rate, Mexico sought to provide higher returns to investors, offsetting the perceived risks associated with investing in the country at that time.

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The expected annual loss in dollars per individual car is $110, and the premium that must be charged to each individual car owner is approximately $157.14.

To calculate the expected annual loss in dollars per individual car, we divide the total annual losses by the number of cars:

Given that the total annual losses are $550 million and there are 5 million cars:

Simplifying the equation:

Therefore, the expected annual loss in dollars per individual car is $110.

To calculate the premium that must be charged to each individual car owner, we need to consider the expenses covered by 30% of the premiums. The remaining 70% of the premium amount is used to cover the expected annual loss.

Premium = Expected annual loss per individual car / (1 - Expense coverage percentage)

Given that the expense coverage percentage is 30% (0.3):

Simplifying the equation:

Calculating the premium:

Therefore, the premium that must be charged to each individual car owner is approximately $157.14.

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A "combination of B and C" is a typical fee structure for commercial property managers, therefore option d is correct because it indicates that they would earn both a minimum charge and a portion of the gross income. This gives the property manager a stable source of cash and encourages them to raise the property's income.

Immovable property utilised for business is referred to as commercial property. It usually refers to a structure housing a business, to land meant for profit, and to bigger residential rental units. The funding, tax status, and legislation that apply to a property depend on whether it is classified as a commercial property.

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The scenario described is an example of a concentrated position.

A concentrated position occurs when a large portion of an investor's portfolio is invested in a single stock or asset class. In this case, the investor had 5% of their portfolio in Verizon stock, which increased in value and now represents 8% of their portfolio.

While a concentrated position can lead to significant gains if the stock performs well, it also increases risk since the investor's portfolio is heavily dependent on the performance of a single stock.

Therefore, it's important for investors to carefully manage their portfolio diversification and avoid excessive concentrations in any one stock or asset class.

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The statement is true because downsizing, which refers to reducing the size of a company's workforce, should not discriminate against employees based on their age, gender, race, religion, or any other protected characteristic.

Age discrimination is a chief concern in downsizing because older employees may be perceived as less productive or more expensive due to their salaries and benefits.

However, it is important to ensure that downsizing is based on legitimate business reasons, such as changes in market demand, technology, or financial constraints, rather than stereotypes or prejudices about certain groups of employees.

Moreover, employers should provide fair and transparent criteria for selecting employees to be downsized, offer alternative employment options, and provide support for affected employees to transition to new jobs or retirement.

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c. Potential employers collect extensive information on potential employees and their work histories, and often require skills tests.

The feature of the labor market that is designed to help firms deal with adverse selection is c. Potential employers collect extensive information on potential employees and their work histories, and often require skills tests. This feature of the labor market helps firms deal with adverse selection by enabling them to make more informed decisions when selecting employees. This is because by gathering information and testing skills, employers can better select qualified candidates and avoid hiring employees who may not be a good fit for the job. Options a and d are related to monitoring and incentivizing current employees, which may help with moral hazard but not with adverse selection. Option b is incorrect as it suggests that all of the features listed help with adverse selection, when in fact only option c directly addresses the issue.

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Mildred, being a minor at 17 years old, has the legal right to disaffirm the contract she made with Audrey to buy the car. This means that she can void the contract and return the car to Audrey without any obligation to fulfill the terms of the agreement.

Mildred does not need to give any reason for disaffirming the contract, and Audrey cannot force her to keep the car. Mildred is entitled to a full refund of any money she paid to Audrey in exchange for the car, as minors cannot enter into legally binding contracts without the consent of a parent or guardian.

Therefore, option D, that Mildred may disaffirm the contract, is the correct answer.

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The final stage in a typical employee grievance procedure is arbitration.

Arbitration is a legal process where an independent third party is called in to resolve a dispute between two parties. In the context of employee grievances, an arbitrator is usually selected by both parties, or appointed by a labor union or a government agency. The arbitrator hears both sides of the dispute, reviews the evidence and testimony, and then makes a binding decision.

Arbitration is considered the final stage in a typical employee grievance procedure because it is the last opportunity for the parties to resolve the dispute without going to court. In most cases, the decision of the arbitrator is final and binding, which means that both parties are legally obligated to abide by the decision. Arbitration is often preferred over going to court because it is less formal, less expensive, and quicker. Additionally, arbitration is confidential, which means that the proceedings and decision are not made public.

In conclusion, the final stage in a typical employee grievance procedure is arbitration, which is a legal process where an independent third party is called in to resolve a dispute between two parties. Arbitration is preferred over going to court because it is less formal, less expensive, and quicker. Additionally, arbitration is confidential, which means that the proceedings and decision are not made public.

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The journal entry to record the issuance of 8,800 shares of preferred stock for cash at $113 per share includes a debit to Cash for $995,200, a credit to Preferred Stock for $959,200 and a credit to Paid-in Capital in Excess of Par - Preferred Stock for $35,000.

The journal entry to record the issuance of preferred stock for cash at a premium of $4 per share would be as follows:

Debit: Cash ($113 per share × 8,800 shares) - $995,200

Credit: Preferred Stock ($109 par value × 8,800 shares) - $959,200

Credit: Paid-in Capital in Excess of Par - Preferred Stock ($4 per share × 8,800 shares) - $35,000

The company issued 8,800 shares of preferred stock at a par value of $109 per share. The par value represents the stated value assigned to each share of preferred stock. The total par value of the preferred stock issued would be calculated by multiplying the par value by the number of shares: $109 × 8,800 = $959,200. This amount is credited to the Preferred Stock account.

Since the preferred stock was issued at a premium of $4 per share ($113 selling price per share minus $109 par value per share), the excess amount above the par value needs to be recorded separately. The excess amount is multiplied by the number of shares to calculate the total premium: $4 × 8,800 = $35,000. This premium is credited to the Paid-in Capital in Excess of Par - Preferred Stock account.

On the other side of the journal entry, the company receives cash for the issuance of the preferred stock. The cash received is calculated by multiplying the selling price per share by the number of shares: $113 × 8,800 = $995,200. This cash is debited to the Cash account.

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The minimum number of credits required for a worker to have partially insured status under a Social Security policy is six credits.

To be eligible for certain Social Security benefits, a worker must have accumulated a specific number of credits through their employment history. Credits are earned based on a worker's income, and the amount needed to earn one credit may change annually. In general, a worker can earn up to four credits per year. Partially insured status is a classification for workers who have earned a limited number of credits but may still qualify for some benefits. This status is different from fully insured status, where a worker has earned enough credits to be eligible for the complete range of Social Security benefits.

Being partially insured can potentially qualify workers for certain benefits, depending on their specific situation and the requirements of the benefit programs they are applying for. It is essential for workers to be aware of their insured status, as it impacts the benefits they may be entitled to receive. Keeping track of credits earned and understanding the eligibility requirements for various Social Security programs can help workers better plan for their financial future and ensure they receive the benefits they are entitled to.

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Below are the five ways to control hazards and risks in the kitchen: Keep the kitchen clean and organized, Use appropriate kitchen tools and equipment and etc.

Keep the kitchen clean and organized: A cluttered and dirty kitchen can create a hazardous environment. Keeping the kitchen clean and organized can help prevent slips, trips, and falls, as well as reduce the risk of fires and other accidents.

Use appropriate kitchen tools and equipment: Using the right tools and equipment for the job can help prevent injuries and accidents in the kitchen. For example, using a sharp knife instead of a dull one can reduce the risk of cuts and injuries, while using a timer or oven thermometer can help prevent overcooking or undercooking food.

Store food and cooking materials properly: Proper storage of food and cooking materials can help prevent contamination and spoilage, as well as reduce the risk of fires. For example, storing flammable materials away from heat sources and keeping a fire extinguisher nearby can help prevent kitchen fires.

Wear appropriate clothing and protective gear: Wearing appropriate clothing and protective gear, such as oven mitts, gloves, and safety glasses, can help prevent burns, cuts, and other injuries in the kitchen.

Use proper cooking techniques: Using proper cooking techniques, such as stir-frying, boiling, or baking, can help prevent food poisoning and other health hazards. Cooking food thoroughly and using a meat thermometer to ensure that meat is cooked to the appropriate temperature can also help prevent foodborne illness.  

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The basic earnings per share for Zeller Corporation in 2018 is $18.76. This means that for every share of common stock outstanding, Zeller Corporation earned $18.76 in net income.

To calculate the basic earnings per share for Zeller Corporation in 2018, we need to first determine the weighted average number of common shares outstanding during the year.

Weighted average number of common shares outstanding = [(Number of common shares at beginning of year) + (Number of common shares issued during the year) - (Number of common shares acquired for the treasury)] / (Number of months the shares were outstanding)

= [(20,000 + 10,000 + 16,000) - 6,000] / 12 = 2 5,000

Next, we need to calculate the earnings available to common shareholders by subtracting the preferred dividends from the net income:

Earnings available to common shareholders = Net income - Preferred dividends = $501,000 - (16,000 x $2) = $469,000

Finally, we can calculate the basic earnings per share by dividing the earnings available to common shareholders by the weighted average number of common shares outstanding:

Basic earnings per share = Earnings available to common shareholders / Weighted average number of common shares outstanding

= $469,000 / 25,000 = $18.76

Therefore, the basic earnings per share for Zeller Corporation in 2018 is $18.76. This means that for every share of common stock outstanding, Zeller Corporation earned $18.76 in net income. Basic earnings per share is an important metric for investors because it allows them to compare the profitability of companies with different numbers of shares outstanding.

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Based on the provided metrics, we can conclude that the third method is the best. The MAPE (Mean Absolute Percentage Error) of 2.7 indicates a lower percentage of error in forecasting compared to the other methods.

To determine the best forecasting method, we need to consider the different metrics used in evaluating forecast accuracy. The MAD (Mean Absolute Deviation) measures the average absolute difference between actual and forecasted values, with a lower value indicating better accuracy. In this case, the first method has an MAD of 2.5.

The MSE (Mean Squared Error) measures the average of the squared differences between actual and forecasted values. A smaller MSE suggests better accuracy, but it is not as intuitive to interpret as the MAD. The second method has an MSE of 10.5.

The MAPE (Mean Absolute Percentage Error) measures the average percentage difference between actual and forecasted values. A lower MAPE indicates a smaller percentage of error and better accuracy. In this case, the third method has an MAPE of 2.7.

Comparing the metrics, the third method stands out as the best since it has the lowest MAPE, indicating the lowest average percentage error in forecasting. However, without additional information about the specific context, requirements, and preferences, it is challenging to definitively determine which method is the absolute best. The choice of the preferred method may also depend on other factors such as ease of implementation, computational requirements, or specific business needs.

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According to the Capital Asset Pricing Model (CAPM), the expected return of a stock is equal to the risk-free rate plus the stock's beta multiplied by the excess return of the market (i.e., the difference between the expected return on the market and the risk-free rate). Mathematically, this can be expressed as:

Expected return = Risk-free rate + Beta * (Expected market return - Risk-free rate)

Plugging in the given values, we get:

12.7% = Risk-free rate + 1.18 * (11.7% - Risk-free rate)

Simplifying and solving for the risk-free rate, we get:

Risk-free rate = (12.7% - 1.18 * 11.7%) / (1 + 1.18) = 3.27%

Therefore, the risk-free rate must be 3.27% in order to obtain an expected return of 12.7% for a stock with a beta of 1.18 and an expected market return of 11.7%.

Risk-free rate ≈ 3.03% So, the risk-free rate must be approximately 3.03%.

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The interest expense for the year 2021 for Oklahoma Oil Corp. was $913,500.

We can calculate the interest expense by using the formula:

Interest Expense = Interest Paid - Change in Interest Payable

Substituting the given values, we get:

Interest Expense = $785,500 - (-$128,000)

(Note that the change in interest payable is negative because it decreased by $128,000, meaning the company paid off some of its outstanding interest payable balance.)

Simplifying, we get:

Interest Expense = $785,500 + $128,000

Interest Expense = $913,500

Therefore, the interest expense for the year 2021 for Oklahoma Oil Corp. was $913,500.

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When estimating probit and logit models, it is important to note that these models are nonlinear and therefore F-statistics should not be used for testing multiple restrictions. However, for testing a single restriction, the t-statistic should still be used.

Additionally, binary variables can be used as explanatory variables in these models. Finally, it is no longer true that the coefficient of determination (R2) is always less than 2, as these models are not linear. In summary, when estimating probit and logit models, it is important to keep in mind the restrictions, use of t-statistics for single restriction testing, and the possibility of including binary variables as explanatory variables.
When estimating probit and logit models, the correct answer is:

C) F-statistics should not be used, since the models are nonlinear.

Probit and logit models are nonlinear, meaning the relationship between the dependent variable and independent variables is not a straight line. As a result, F-statistics, which are designed for linear regression models, are not appropriate for testing overall model significance in probit and logit models. Instead, likelihood ratio tests or Wald tests are more suitable for this purpose. The other options (A, B, and D) are not accurate in the context of probit and logit models.

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All of the options listed contribute to the effectiveness of MBO (Management by Objectives), including setting realistic and specific goals, individual goal setting, planning, control, and feedback.

MBO is a goal-setting process that involves collaboration between managers and employees to set specific, measurable, achievable, relevant, and time-bound (SMART) goals that align with the overall objectives of the organization. One of the key factors that contribute to the effectiveness of MBO is setting realistic and acceptable goals.

Goals that are perceived as unrealistic or unattainable can lead to demotivation and a decrease in productivity. Setting specific goals is also important as it provides clarity and direction to employees, helping them understand what is expected of them. Individual goal setting, planning, and control give employees a sense of ownership and accountability over their work, increasing their commitment to achieving their goals.

Lastly, feedback is crucial in MBO as it allows employees to monitor their progress and make adjustments to their goals and actions as needed. Overall, the success of MBO depends on a combination of these factors, and it is essential to implement them effectively to achieve the desired results.

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The correct answer is d) 763 crates. The production costs are already included in the cost per crate (i.e., the closest option to the calculated value).

To solve this problem, we need to first calculate the profit per crate of eggs:

Profit per crate = Selling price per crate - Cost per crate

Profit per crate = $34.24 - $9.86 = $24.38

Next, we can use the following formula to calculate the number of crates required to make a profit of $11,300:

Number of crates = (Desired profit + Starting overhead cost) / Profit per crate

Number of crates = ($11,300 + $7,312) / $24.38

Number of crates = 767.16

Rounding to the nearest crate, the chicken farmer needs to sell approximately 767 crates of eggs to make a profit of $11,300.

Therefore, the correct answer is d) 763 crates (the closest option to the calculated value). This calculation assumes that the production costs are already included in the cost per crate.

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Correct Question:

A chicken farmer can produce one crate of eggs at a cost of $9. 86, and can sell that crate for $34. 24. If the farmer has a starting overhead cost of $7,312, not including production costs, how many crates must be sold in order to realize a profit of $11,300, to the nearest crate? a. 164 b. 330 C. 463 d. 763

If player 1 chooses strategy b and player 2 chooses strategy a, then player 1 earns $600 and player 2 earns $100. If player 1 chooses strategy b and player 2 chooses strategy a, then player 1 earns $600 and player 2 earns $100.

The solution for the given problem is shown below:

a) The Normal Form for the game is shown below: Where each player can choose strategy a or strategy b. If both players choose strategy a, each earns a payoff of $400. If both players choose strategy b, each earns a payoff of $200. If player 1 chooses strategy a and player 2 chooses strategy b, then player 1 earns $100 and player 2 earns $600.

If player 1 chooses strategy b and player 2 chooses strategy a, then player 1 earns $600 and player 2 earns $100.Player 2

b) In the given problem, the two-player, one-shot simultaneous-move game is given. Each player has two strategies, that is, strategy a and strategy b.

If both players choose strategy a, each earns a payoff of $400. If both players choose strategy b, each earns a payoff of $200.

If player 1 chooses strategy a and player 2 chooses strategy b, then player 1 earns $100 and player 2 earns $600. If player 1 chooses strategy b and player 2 chooses strategy a, then player 1 earns $600 and player 2 earns $100.

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To calculate Stephanie's average tax rate, we need to divide her total tax liability by her taxable income. Average tax rate = (total tax liability / taxable income) x 100%

Using the given information, we know that Stephanie's taxable income is $48,200 and her tax liability is $6,358.
So, her average tax rate can be calculated as Average tax rate = (6,358 / 48,200) x 100% = 13.19% (rounded to the nearest whole number) Now, we need to find out what happens to her average tax rate if her income increases by $4,000. We are also given that her tax liability will be $7,238 after this increase.
To calculate the new average tax rate, we need to use the same formula with the new tax liability and taxable income values:  New average tax rate = (new tax liability / new taxable income) x 100% We can calculate the new taxable income as $48,200 + $4,000 = $52,200.  We are given that the new tax liability is $7,238.
Plugging these values into the formula, we get: New average tax rate = (7,238 / 52,200) x 100% = 13.88% (rounded to the nearest whole number)
So, if Stephanie's income increases by $4,000, her average tax rate would increase from 13.19% to 13.88%. This is because her tax liability increases at a faster rate than her taxable income.

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