1 / 10

“A Day at the Beach”

“A Day at the Beach”. Nelly Altamirano Bill Bowker Dmitriy Novak Vanessa Graciano Yiwen Zhang. Calculation of Damages: Lost Wages. Mr. McDuff’s 2009 Yearly Salary: $48000 Estimated Mean Inflation Per Year: 3.333% Real Increase in Wages Per Year: 3% Tax Rate: 25%

devlin
Download Presentation

“A Day at the Beach”

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. “A Day at the Beach” Nelly Altamirano Bill Bowker Dmitriy Novak Vanessa Graciano Yiwen Zhang

  2. Calculation of Damages:Lost Wages • Mr. McDuff’s 2009 Yearly Salary: $48000 • Estimated Mean Inflation Per Year: 3.333% • Real Increase in Wages Per Year: 3% • Tax Rate: 25% • Mr. McDuff is owed over $411000 in lost wages through 2021. Dmitriy Novak

  3. Calculation of Damages • Lost wages • Pain and suffering • Caretaker expenses Dmitriy Novak

  4. Recommendations

  5. Appendix A: Statistical Analysis μ = the mean difference in accident rates between drivers wearing flip flops and those wearing other footwear for the population the sample mean of difference in accident rates

  6. Appendix A: Statistical Analysis H0 = Ha =

  7. Appendix B: Calculation of Lost Wages Calculation of mean expected inflation rate: We estimate that the mean future inflation rate will be about 3.333%

  8. Appendix B: Calculation of Lost Wages • Mr. McDuff’s 2009 Yearly Salary: $48000 • Mean Inflation Rate Per Year: 3.333% • Real Increase in Wages Per Year: 3% • Tax Rate: 25% • Wages per year for future years: (wages for previous year)(1.0333)(1.03) • [e.g. wages for 2010: (wages for 2009 = $48000)(1.0333)(1.03) = $51086.35] • Yearly wages after tax: (yearly wages)(.75) • Present value of future wages: (wages per year)(present value factor)

  9. Appendix B: Calculation of Lost Wages • Half of wages for 2009, after tax: $48000/2(.75) = $18000 • Total wages owed: $393275.79 + $18000 = $411275.79

More Related