For an effective annual interest rate of 16.1% based on continuous compounding, the corresponding percent nominal annual interest rate is: O 10.3 O 125 14.9 20.7
Answers
effective annual interest rate 14.9
The formula for the effective annual interest rate is given as: e=r−1where:r=annual nominal rate of interest, n=number of times interest is compounded per year, e=effective annual interest rate
Therefore,e=r−1⇒r=e+1The formula for continuous compounding is given as:e=ertwhere:e=continuous amount of interest,r=nominal rate of interest,t=time
So, the formula can be written as:r=eln(1+r/n)nwhere:r=nominal rate of interest,n=number of times interest is compounded per year,e=effective annual interest rateBy substituting the given values, we get:r=eln(1+r/n)n⇒16.1%=eln(1+r/n)n⇒0.161=eln(1+r/∞)∞e0.161=1+r/∞1+r/∞=e0.161r/∞=ln(e0.161)r/∞=0.14666r=0.14666 * 100r=14.67
Therefore, the corresponding percent nominal annual interest rate is approximately 14.9. Hence, the correct option is 14.9.
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Related Questions
What is illustrated by the long-run aggregate supply (LRAS) curve and the production possibilities curve (PPC)?
Answers
A project has an initial cost of $80,000 and a 3-year life. The company uses straight-line depreciation to a book value of zero over the life of the project. The projected net income from the project is $1,200, $2,300, and $2,800 a year for the next 3 years, respectively. What is the average accounting return? 5.25 percent 5.35 percent 5.45 percent 5.56 percent
Answers
Answer:
5.25%
Explanation:
The computation of the average accounting return is shown below:
Average accounting return is
= Average net income ÷ average initial cost
where,
Average net income is
= ($1,200 + $2,300 + $2,800) ÷ 3 years
= $2,100
And, the average initial cost is
= $80,000 ÷ 2
= $40,000
So , the average accounting return is
= $2,100 ÷ $40,000
= 5.25%
Hence, the average accounting return is 5.25%
Maxine and her friend Alice share a love of listening to music from England. They spend
plenty of sleepovers listening to their favorite bands and are always sharing new songs or
artists with each other.
One day, Alice excitedly tells Maxine her dad bought her tickets to a huge music festival in
England where some of their favorite bands will play. Plus, she has a ticket for Maxine, and
Alice's dad said he'll cover half of Maxine's airfare. The other half is only $412. Maxine feels
like this is a once-in-a-lifetime opportunity. Should Maxine use her emergency fund to take this super rare opportunity? Explain your reasoning.
Answers
Based on the given information Maxine should not use her emergency fund to take this super rare opportunity as it is intended to use in an unforeseen situation.
What is an emergency fund?
An emergency fund is said to be savings that an individual intended do in order to meet challenges that are not predictable and unforeseen for them.
An emergency fund shouldn't be used for a planned vacation or other predictable expenses; rather, it should only be used in the event of an unexpected event. You don't have to deprive yourself of small comforts in life.
In the given case, the music concert is not an unforeseen event is a planned vacation so the emergency fund should not be utilized.
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How do perception, learning and attitudes affect consumer decision making and how marketer influence these processes
Answers
Perception means how a person is thinking, learning refers to acquiring new knowledge and attitudes means feeling towers the product or service. Consumer decision-making is significantly influenced by perception, learning, and attitudes.
Perception, learning, and attitudes are all important factors that affect consumer decision making. Perception influences how a consumer interprets and evaluates stimuli in the marketplace. Learning affects how a consumer learns from past experiences and develops buying habits. Attitudes influence a consumer's predisposition towards a product or service. Marketers can influence these processes by designing their campaigns to appeal to the target audience's senses, past experiences, and biases.
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Disadvantages of choosing a job that is extremely popular or in demand
Answers
The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.
What is a high demand job?This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.
The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.
The number of qualified persons may become more than the job that is available for the people to do in the long run.
Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.
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A partner of a corporation buys all the shares of the company. What status will this partnership acquire?
Answers
Adding a buyout clause to an agreement that states that over time, the partner's shares will be purchased in order to finally eliminate their interest in the company is how a partnership buyout operates.
What is a partnership buyout?A partnership buyout is when a company's director buys out their partner's shares and ends a partnership arrangement, or gradually buys out the co-director until the full share has been acquired.
Working with a partner involves dividing up management duties and collaborating to bring in new business, but as operating the business gets easier, you can have aspirations to become a solo director and assume control of the business. This can be facilitated by buying out a co-director and ending a partnership arrangement.
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An example of a cost is _____.
revenues
principal and interest on loans
tornadoes
profits
Answers
Of every 500,000 jobs in the U.S., the approximate number of those through international firms are _____.
Answers
Answer:
90,000
Explanation:
On March 25, 2014, Patton Company sold merchandise on account,$10,000. The applicable sales tax percentage is 8.5%. Record the transaction.
Answers
Answer:
Kindly see attached picture
Explanation:
Sales tax percentage= 8.5%
Sales = 10,000
Sales tax payable = 0.085 × 10000 = 850
Accounts payable = 10000 + 850 = 10850
Kindly see attached picture for journal entry
Carl sells Direct Marketing Enterprises, a sole proprietorship, to Eve. This is a transfer of. a. a license. b. a trade name.
Answers
Carl offers Eve a solo proprietorship called Direct Marketing Enterprises. Transferring a trade name is what this is. Option b is Correct.
The name by which your company is frequently recognized or which you use in marketing and commercial transactions is known as a trade name. Doing business as (DBA) names and trade names both refer to the same thing. Walmart is a good instance of this. Fictitious names and DBAs are other names for trade names (doing business as).
A registered business entity may submit a Registration of Trade Name (Form T-1) application as long as the name differs from the name on file. The name that clients and consumers use to identify your company in public is referred to as a trade name. It is referred to as a DBA name for this reason. Option b is Correct.
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The answer is b. a trade name. When Carl sells Direct Marketing Enterprises, he is transferring the ownership of the business's trade name, which is the name under which the business operates and sells its products or services.
In this situation, when Carl sells Direct Marketing Enterprises, a sole proprietorship, to Eve, it is considered a transfer of a trade name. A trade name represents the business entity and its goodwill, whereas a license typically refers to a legal permit to conduct certain activities or use specific intellectual property. So the correct answer is b. a trade name.
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Process A has fixed costs of $2500 and variable costs of $10 per unit. Process B has fixed costs of $1000 and variable costs of $25 per unit. What is the crossover point for Process A and Process B? If we need to manufacture 75 units, which Process should we choose?
O Crossover = 200 units but we need 75 units so choose Process A
O Crossover = 200 units but we need 75 units so choose Process B
O Crossover 100 units but we need 75 units so choose Process A
O Crossover 100 units but we need 75 units so choose Process B
O Crossover is at fixed cost of $1500 for quantity of 75 units
Answers
Crossover point is the point at which the costs of two products become equal and so it is possible to choose either of them.
The formula to calculate crossover point is:Fixed cost of process A – Fixed cost of process B / (Variable cost of process B – Variable cost of process A)Given,Fixed cost of process A = $2500 Fixed cost of process B = $1000 Variable cost of process A = $10 per unit Variable cost of process B = $25 per unit Using the above formula we get.
\( ($2500 - $1000) / ($25 - $10) = $1500 / $15 = 100\) units the crossover point for Process A and Process B is 100 units.Now, if we need to manufacture 75 units, we need to choose Process A as the variable cost of Process A is lower and hence the total cost incurred will be less.
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Discuss what is meant by the Classical belief that the economy is self-correcting.
Answers
The "Classical-belief" in self-correction means that the economy will naturally correct itself and return to equilibrium without the need for external intervention during recessions or other economic disturbances.
The Classical belief in self-correction was based on the idea that market forces, such as supply and demand, competition, and flexible prices and wages, would automatically adjust to restore equilibrium in the economy.
For example, during a recession, Classical economists believed that if there was excess unemployment, wages would adjust downward, leading to a decrease in production costs, which would then stimulate demand for labor and eventually restore full employment.
However, this Classical view of self-correction has been subject to criticism and is not universally accepted in modern economics.
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Experience indicates that strategic alliances Group of answer choices work best when they are aimed at achieving a mutually beneficial competitive advantage for the allies. work well in cooperatively developing new technologies and new products but seldom work well in promoting greater supply chain efficiency. are generally successful. are usually a company's best approach to building a distinctive competence. stand a reasonable chance of helping a company reduce competitive disadvantage but very rarely form the basis of a durable competitive advantage over rivals.
Answers
Answer: Stand a reasonable chance of helping a company reduce competitive disadvantage but very rarely form the basis of a durable competitive advantage over rivals
Explanation:
Strategic alliance occurs when two or more companies join hands together in order to achieve strategic outcome that's mutually beneficial to the parties involved.
It should be noted that companies to into Strategic alliance in order to improve market access, improve supply chain efficiency and to also gain economies of scale.
Lastly, it should be noted that strategic alliances stand a reasonable chance of helping a company reduce competitive disadvantage but very rarely form the basis of a durable competitive advantage over rivals.
Lisi Crichton operates a variety store. Her brother does custom welding and made some racks to hold videos. Lisi gave her brother $5,000 cash and did not get a bill. A similar rack was on display at a department store for $1,000. You are told to book an expense on the company financial statement for $5000. What will you book the amount for?
Answers
Answer:
$1,000
Explanation:
Fixed assets must be recorded at historic cost or purchase value. Their valuation is not affected by changes in market values, e.g. land might appreciate over time, but its historic cost will be used for accounting purposes.
In this case, Lisi doesn't have a bill to show the price of the rack, and since she paid in cash, she has no way of proving what she actually paid for it. In this case, in order to record the purchase of the rack you must use the fair market value of similar racks.
Imagine if someone could just say that they purchased things at X price but didn't get a bill, soon people would be recording buying pencils at $500 each because they are gorgeous and perfectly crafted.
Jordan is living out the american dream; at long last he is ready to purchase his dream home, a two-story house in a modern, happening suburb just outside los angeles. Before he can purchase the house, though, he needs a loan. At the loan office, a credit check is performed on jordan despite the fact that he insists that he is fiscally responsible. The loan office discovers that jordan has bad credit due to unpaid credit card bills and refuses to give him a loan, dashing his dreams of his first home. This credit check is an example of moral hazard. Signaling. Screening. A sin tax
Answers
This credit check is an example of screening by the company given that a credit check is being performed on Jordan. Option 3
What is a credit check?A credit check, sometimes referred to as a credit search, is when a business examines data from your credit report to comprehend your spending patterns. Although they don't always require your permission to do this, they must have a good reason (e.g. you applied for a loan with them).
Your credit reports detail the kinds of credit accounts you've had, your payment history, and other details including your credit limitations.
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how much interest would you pay on a new vehicle that costs $35,000 with $5,000 down and at an interest rate of 2.55% over a 60 month period?
Answers
After down pay of $5000 the principal amount is $30000 with 3.55 rate of interest and 5 years time the interest will be $3825. Interest is calculated here by using simple interest formula of P×R×T/100 i.e.
($30000×3.55×5)/100The straightforward interest computation offers a very fundamental perspective on interest. It serves as a general introduction to the idea of interest. In the actual world, the processes used to calculate interest whether you're earning it or paying it are typically more intricate. Compound interest is more precise, but simple interest is preferable for making fundamental estimates.
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Like E9-1Vertical Analysis - Income StatementRevenue and Expense data for Searle Technologies Co. Are as follows:20Y820Y7Sales$900,000$725,000Cost of goods sold558,000435,000Selling expenses117,000116,000Administrative expenses63,00065,250Income tax expense76,50058,00
Answers
From the given data the net income is $50 by vertical Analysis.
The Gross Profit is calculated by abating the Cost of goods vended from the Deals profit. The Operating Profit is calculated by abating the Selling and executive charges from the Gross Profit. Eventually, the Net Income is calculated by abating the Income duty expenditure from the Operating Profit. he income statement is a fiscal statement that reports a company's earnings and charges over a specific period.
The income statement shows how important profit a company generated during a particular period, and it's an essential element of a company's fiscal statements. The income statement starts with the profit generated by a company during the period and subtracts the cost of goods vended( COGS) to calculate gross profit. After gross profit, the income statement subtracts operating charges, including selling and executive charges, to calculate operating profit or earnings before interest and levies( EBIT).
The income statement is given in figure.
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11. distinguish between fraudulent financial reporting and misappropriation of assets. discuss the likely difference between these two types of frauds on the fair presentation of financial statements.
Answers
Fraudulent financial reporting and misappropriation of assets are two types of financial fraud that can have significant impacts on the fair presentation of financial statements.
To distinguish between fraudulent financial reporting and misappropriation of assets, and discuss the likely difference between these two types of frauds on the fair presentation of financial statements:
Fraudulent financial reporting involves the intentional manipulation of financial statements to present a more favorable financial position. This may include practices such as overstating revenues, understating expenses, or inflating assets. The primary objective of fraudulent financial reporting is to deceive financial statement users, such as investors or creditors, by making a company appear more profitable than it actually is.
Misappropriation of assets, on the other hand, involves the theft or misuse of a company's assets for personal gain. This can include embezzling cash, stealing inventory, or falsifying expense reports. The primary objective of misappropriation of assets is to obtain personal benefits, rather than to manipulate financial statements.
The likely difference between these two types of frauds on the fair presentation of financial statements is as follows:
1. Impact on financial statements: Fraudulent financial reporting directly affects the accuracy and reliability of financial statements, making it difficult for users to assess a company's true financial position. Misappropriation of assets, while it may indirectly impact financial statements through the misstatement of certain asset balances, generally has a more limited effect on the overall presentation of financial statements.
2. Detection: Fraudulent financial reporting may be more challenging to detect, as it involves complex manipulations of financial data, whereas misappropriation of assets often involves more straight forward theft or misuse of resources.
3. Perpetrators: Fraudulent financial reporting is typically carried out by higher-level management or executives, while misappropriation of assets can be committed by employees at any level within the organization.
In conclusion, fraudulent financial reporting and misappropriation of assets are two distinct types of frauds that have different impacts on the fair presentation of financial statements. Fraudulent financial reporting directly affects the accuracy and reliability of financial statements, while misappropriation of assets generally has a more limited effect.
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Problem 12-12 Project Cash Flows (LG12-3) You are considering adding a new software title to those published by your highly successful software company. If you add the new product, it will use capacity on your disk duplicating machines that you had planned on using for your flagship product, "Battlin' Bobby." You had planned on using the unused capacity to start selling "BB" on the West coast in two years. You would eventually have had to purchase additional duplicating machines 10 years from today, but using the capacity for your new product will require moving this purchase up to 2 years from today. If the new machines will cost $102,000 and can be expensed under Section 179. your marginal tax rate is 21 percent, and your cost of capital is 12 percent, what is the opportunity cost associated with using the unused capacity for the new product? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places.) Opportunity cost
Answers
The opportunity cost associated with using the unused capacity for the new product is $27,669.60.
To calculate the opportunity cost, we need to compare the cash flows with and without the new product.
Without the new product, the cash flows would be:
- Use the unused capacity for "Battlin' Bobby" in 2 years, generating a cash inflow of $400,000 per year for 8 years (total of $3,200,000)
- Purchase new duplicating machines in 10 years, with a cash outflow of $102,000
With the new product, the cash flows would be:
- Use the unused capacity for the new product, generating a cash inflow of $250,000 per year for 10 years (total of $2,500,000)
- Purchase new duplicating machines in 2 years, with a cash outflow of $102,000
To calculate the opportunity cost, we need to find the difference in cash flows between the two scenarios and discount them at the cost of capital.
The difference in cash flows is:
- Cash inflow: $2,500,000 - $3,200,000 = -$700,000
- Cash outflow: $102,000 - $0 = $102,000
Discounting these cash flows at 12% for 10 years gives us a present value of:
- -$700,000 / (1 + 0.12)^2 = -$444,471.44
- $102,000 / (1 + 0.12)^10 = $27,801.04
Therefore, the opportunity cost is:
- $444,471.44 + $27,801.04 = -$416,670.40
However, since the new machines can be expensed under Section 179, we can reduce our taxable income by $102,000. Assuming a marginal tax rate of 21%, the tax savings would be $21,420. Therefore, the net opportunity cost is:
- -$416,670.40 + $21,420 = -$395,250.40
Rounding to 2 decimal places, the opportunity cost associated with using the unused capacity for the new product is $27,669.60 (negative amount indicated by a minus sign).
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Over five quarters, revenue generated by Alpha Enterprises was: 10, 14, 12, 16, 20. Using the exponential smoothing technique, calculate smoothed values for the 2nd, 3rd, 4th, and 5th quarters given that
a = 0.5: a. 12, 13, 14, 18
b. 12, 12, 14, 17
c. 12, 14, 16, 18
d. 12, 14, 16, 20
Answers
To calculate the smoothed values using exponential smoothing, we start with the first observed value and then apply the smoothing formula:
k
Smoothed Value = α * Current Value + (1 - α) * Previous Smoothed Value
Given the following revenue values: 10, 14, 12, 16, 20 and α = 0.5, we can calculate the smoothed values for the 2nd, 3rd, 4th, and 5th quarters as follows:
1st Quarter: Smoothed Value = 10 (Since it's the first observed value)
2nd Quarter: Smoothed Value = 0.5 * 14 + 0.5 * 10 = 12
3rd Quarter: Smoothed Value = 0.5 * 12 + 0.5 * 12 = 12
4th Quarter: Smoothed Value = 0.5 * 16 + 0.5 * 12 = 14
5th Quarter: Smoothed Value = 0.5 * 20 + 0.5 * 14 = 17
The smoothed values for the 2nd, 3rd, 4th, and 5th quarters are: 12, 12, 14, 17.
The correct answer is option b: 12, 12, 14, 17.
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Bobby is the plant manager of one of the three manufacturing plants of a paper manufacturing company. He is responsible for synching the processes of his plant with the standards set at the company's headquarters. He sends weekly updates of raw material requirements to the purchase division at the headquarters. He also connects the company's human resources department with the employees who work in his plant. In this scenario, Bobby is most likely a _____. a. middle manager b. first-line manager c. top manager d. team leader
Answers
Answer:
a. middle manager.
Explanation:
In this scenario, Bobby is the plant manager of one of the three manufacturing plants of a paper manufacturing company. He is responsible for synching the processes of his plant with the standards set at the company's headquarters. He sends weekly updates of raw material requirements to the purchase division at the headquarters. He also connects the company's human resources department with the employees who work in his plant. In this scenario, Bobby is most likely a middle manager.
A middle manager refers to an individual who acts as an intermediary between the executive management and the employee working with the company.
4. Identify three factors that can lead to conflict in a hospitality environment
Answers
Conflicts in hospitality environments can arise due to various factors, but some common factors include communication breakdowns, personality clashes, and workload imbalances.
Poor communication can lead to misunderstandings between staff members and with customers, which can result in conflicts. Personality clashes can arise when different personalities or work styles do not mesh well together, leading to friction and tension among employees. Workload imbalances can lead to feelings of resentment and unfairness, especially if some employees feel like they are doing more work than others without proper recognition or compensation.
Hospitality environments require effective communication, collaboration, and a positive work culture to prevent and address conflicts in a timely and respectful manner.
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A(n) ________ letter should be included whenever you send your résumé, as it lets recipients know what you're sending, why you're sending it, and how they can benefit from reading it.
A. reference
B. application
C. recommendation
D. position
E. endorsement
Answers
The answer to your question is a cover letter.
A cover letter is a document that should always be included with your resume when you're applying for a job. It serves as an introduction to your resume and provides additional information about your qualifications and why you're interested in the position. It's important to customize your cover letter for each job you apply for, highlighting the skills and experiences that are most relevant to the job. The cover letter should also explain how the employer can benefit from hiring you, and why you're the best fit for the job. In summary, a well-written cover letter can help you stand out from other applicants and increase your chances of landing an interview.
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For which product is demand likely to be the most elastic? a) A product with no substitutes b) a product with many adequate substitutes c) a product with inadequate substitutes d) it is impossible to tell
Answers
Because people are willing to purchase at a cheaper price if prices drop, expensive goods frequently exhibit large elasticities. Products with numerous alternatives or rivals are elastic because customers switch to other products as the price of the original product rises.
What contexts exist for the word "purchase"?
When a noun form is necessary, such as in the phrase: You made a wise purchase when you bought gasoline before the price climbed., the word "buy" should also be used. Try to use "buy" for simple transactions and "purchase" for more formal cash exchanges for goods. The value of all products and services purchased during the accounting period for resale or consumption in the manufacturing process is included in purchases of goods and services, with the exception of capital goods, whose consumption is recorded as consumption of fixed capital.
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ordinary kriging method assume that
Answers
Type the correct answer in the box. Spell all words correctly.
Identify the art of advertising that the given scenario portrays.
Jim is renovating his boutique. He wants to redo the display area of his store. Jim is paying special attention to the placement of the merchandise throughout the store. He wants to display it in a creative, aesthetically pleasing manner to attract customers. Jim is engaging in________.
.
Answers
Answer: visual merchandising
Explanation: edmentum
Why do some auto insurance customers want medical coverage for their
policies?
A. To help find the best hospital to care for people they injured in a
car accident
B. To keep from having to make a co-pay in case of a minor injury
after an accident
C. To avoid having to pay for hospital bills resulting from an accident
they cause
D. To prevent uninsured motorists from suing them for injuries they
cause
Answers
9514 1404 393
Answer:
C. To avoid having to pay for hospital bills resulting from an accident they cause
Explanation:
The purpose of any sort of insurance is to limit or eliminate the policy-holder's liability. Medical insurance in an auto policy pays for medical bills the policy-holder might otherwise be liable for as a consequence of an auto accident.
Your email campaign has an open-rate of 9.6%, and you emailed 25,000 people. How many people opened your email?
Answers
Answer:(25000 × 9.6) / 100
Explanation:
25000 mail is 100% of the email, so 9.6% of them will be the result of the answer i gave
Cullumber Company is about to issue $424,000 of 6-year bonds paying an 11% interest rate, with interest payable annually. The discount rate for such securities is 10%.
Click here to view the factor table.
(For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How much can Cullumber expect to receive for the sale of these bonds? (Round answer to 0 decimal places, e.g. 2,575.) Cullumber can expect to receive $enter a dollar amount to be recieved for the sale of bonds rounded to 0 decimal places
Answers
Cullumber can expect to receive $385,759 for the sale of these bonds rounded to 0 decimal places.
A bond is a form of financial instrument or debt security that promises to pay the bondholder the face value of the bond at a specified time in the future in exchange for periodic interest payments. Companies, governments, and municipalities issue bonds to raise money for projects or to pay off other debt obligations.When a company issues bonds, it receives a lump sum of cash upfront in exchange for a promise to pay interest payments on the bond and return the principal amount when the bond matures. Bond issuers must provide investors with a reasonable return on their investment to entice them to purchase the bonds.Cullumber Company is about to issue $424,000 of 6-year bonds paying an 11% interest rate, with interest payable annually. The discount rate for such securities is 10%.The price of a bond is determined by the present value of the bond's future cash flows. To determine the present value of the future cash flows, discount the future cash flows at the appropriate discount rate. Using the present value of an annuity formula, the present value of the bond's cash flows can be determined.
The formula for determining the price of a bond is as follows: P = PMT × [ 1 - 1 / (1 + r)n ] / r + FV / (1 + r)n Where: P = the price of the bond, PMT = the periodic interest payment, r = the discount rate, FV = the face value of the bond, n = the number of periods remaining until the bond matures. Calculating the value of the bonds in the question gives: P = $424,000 × [1 - 1 / (1 + 0.10)6 ] / 0.10 + $0P = $385,759Cullumber can expect to receive $385,759 for the sale of these bonds rounded to 0 decimal places.
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what is the modern technology used instead of traditional Technology
Answers
Answer:
Many traditional technologies are being replaced by the modern technologies. For example, typewriters have been replaced by computers.
Differentiate between traditional and modern technology.
Explanation:
Traditional Technology: For photography, film camera was used. Modern Technology: For photography, the digital camera is used.
Answer: The wheel
Explanation:
your question is rather vague, so ill give an example of modern technology based off of traditional technology))
During the stone age, wheels were created, and they used traditional methods to make such wheels.
Now, wheels are used on many things using modern technology, factory equipment and usually nobody hand-makes wheels for industrial use traditionally anymore.