assume you decide to start a business and you quit your job that was paying you $60,000 a year. you pay $36,000 to the landlord

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Answer 1

The implicit cost is $61,000.

What is the implicit cost?

Implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

When you decide to start the business, you forgo the amount you earned from your job and the interest you were earning.

$60,000 + 1,000 = $61,000

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Assume You Decide To Start A Business And You Quit Your Job That Was Paying You $60,000 A Year. You Pay

Related Questions

[The following information applies to the questions displayed below.]

Alquist Company uses the retail method to estimate its ending inventory. Selected information about its year 2024 operations is as follows:

January 1, 2024, beginning inventory had a cost of $100,000 and a retail value of $150,000.
Purchases during 2024 cost $1,387,500 with an original retail value of $2,000,000.
Freight costs were $10,000 for incoming merchandise.
Net additional markups were $300,000 and net markdowns were $150,000.
Based on prior experience, shrinkage due to shoplifting was estimated to be $15,000 of retail value.
Merchandise is sold to employees at a 20% of selling price discount. Employee sales are recorded in a separate account at the net selling price. The balance in this account at the end of 2024 is $250,000.
Sales to customers totaled $1,750,000 for the year.
Required:
1. Estimate ending inventory and cost of goods sold using the conventional retail method.

Answers

The ending inventory and the cost of goods sold using the conventional retail method will be $135992, and $1361508 respectively.

How to illustrate the information?

It should be noted that the ending inventory simply means the value of goods that are still available for sale at the end of an accounting period.

From the calculation in the attached document, the goods available for sale was 1497500 and the estimated cost of goods was 1361508. Therefore, the estimated inventory at cost was:

= 1497500 - 1361508

= 135992

The document is attached for further explanation.

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CAN YOU HELP ME WITH THAT QUESTION< PlEASE?
Additional tickets were sold for $44,000 cash during 2025, a portion of these was used by the purchasers during the year. The entire balance remaining in Unearned Sales Revenue relates to the upcoming Skins Game in 2025.

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Based on the fact that the amount received from tickets for the upcoming Skins Game in 2025 was left in the Unearned Sales Revenue account, the journal entry is:

Date Account Title Debit Credit

2025 Cash $44,000

Unearned sales revenue $44,000

What is unearned revenue?

This is revenue that a company has received but which they have not provided either the goods or services for.

For instance, pre-orders for goods and services.

The tickets sold were for upcoming games so the service of playing the game was yet to be delivered which makes this unearned revenue. It will be credited to the unearned sales revenue account.

Question is:

Prepare journal entries for the following event.

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General motors got in trouble with one of its suppliers of trim because

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Answer:

all of the above general motors crop

when a price of egg rises from $40 to $50 per unit in quantity supplied by a particular firm per week increase from 400 to 600 units. calculate the coefficient of price elasticity of supply and interpret the result

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40 to 50 and yess you can because use 400 to 600 units

Assume the government sets a price ceiling, or maximum price800 rent per month Based on the graphwhat will be the outcome of this price

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The outcome of the ceiling price $800 rent is that the quantity supplied will remains at the same.

What is a price ceiling?

This refers to a price order by the government that keeps a price from rising above a certain level known as the “ceiling”.

In the graph, the horizontal line at the price of $800 shows the maximum price set by the rent control law.

The forces that shifted the demand curve to the right are still there, but, at this price, the quantity supplied will remains at the same 15,000 rental units although the quantity demanded is 19,000 rental units.

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It doesn’t show why the options are

what is Foreign exchange risk ??

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Answer:

oreign exchange risk is a financial risk that exists when a financial transaction is denominated in a currency other than the domestic currency of the company.

Foreign exchange risk refers to the losses that an international monetary transaction can also incur because of forex fluctuations. Forex chance also can have an effect on investors, who change in international markets, and groups engaged in the import/export of products or services to multiple nations.

Why is foreign exchange risk important?

foreign exchange (FX) risk management is crucial for any agency it's doing worldwide commercial enterprise. The values of primary currencies continuously range towards each other, developing income uncertainty for your commercial enterprise. Many companies like to put off this uncertainty by way of locking in destiny exchange fees.

The trade-rate hazard may be the single biggest risk for holders of bonds that make hobby and primary bills in overseas foreign money. for instance, anticipate XYZ employer is a Canadian organization and pays hobby and important on a $1,000 bond with a 5% coupon in Canadian bucks.

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Whats the degree of diffuculty for a competitor to replicate your business called?

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Answer:

It helps influence consumer decision making and often results in higher profits. Sustainable competitive advantage refers to assets, characteristics, or capabilities that are unique to a business. They are difficult to replicate and allow a business to meet customer demands better than its competitors.

Explanation:

Hope this helps have a great day

Simple and avoidable errors are made in hospitals each day, causing patients to die. Inspired by two tragic medical mistakes-his father's misdiagnosed cancer and sloppiness that killed an 18-month-old child at Johns Hopkins- Dr. Peter Pronovost has made it his mission, often swimming upstream against the medical culture, to improve patient safety and prevent deaths. He began by developing a basic 5-step checklist to reduce catheter infections. Inserted into veins in the groin, neck, or chest to administer fluids and medicines, catheters can save lives. But every year, 80,000 Americans get infections from central venous catheters (or lines), and over 30,000 of these patients die. Pronovost's checklist has dropped infection rates at hospitals that use it down to zero, saving thousands of lives and tens of millions of dollars. His steps for doctors and nurses are simple: (1) wash your hands; (2) use sterile gloves, masks, and drapes; (3) use antiseptic on the area being opened for the catheter; (4) avoid veins in the arms and legs; and (5) take the catheter out as soon as possible. He also created a special cart, where all supplies needed are stored. Dr. Provonost believes that many hospital errors are due to lack of standardization, poor communications, and a noncollaborative culture that is antiquated and toxic." He points out that checklists in the airline industry are a science, and every crew member works as part of the safety team. Provonost's book has shown that one person, with small changes, can make a huge difference.

a. According to the above study and in reference to lecturers relate organizational culture determines three functions of organizational culture (4mks)

b. Different quality management gurus have taken different approach towards quality, compare Deming and Feigenbaum approach (5mks)

C. Explain why quality is free according to the above study (4mks) d. Explain business process Re-engineering relevant to the above hospital (5mks)

quality management (4mks)

e. Describe how Dr Provonost carried out a benchmark of the hospital |(4mks)

f. Explain four barriers that Dr. Provonost may face in implementing total

g. Identify four Characteristics of quality customer service in the above hospital (4mks)

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The functions of organizational culture include facilitating collective environment and giving members a sense of identity.

What is organizational culture?

It should be noted that organizational culture simply means the collection of values and expectations that guides the actions of employees.

The functions of organizational culture include:

Facilitating collective environment.

Giving members a sense of identity.

Promotion of relationship.

According to Feigenbaum approach, the steps to improve quality include quality technology, quality leadership, and organizational commitment.

It is stated that quality is free because the road to perfect goods and services is simply through prevention.

Business process re-engineering is relevant to the above hospital to achieve improvement in productivity.

Dr Provonost carried out a benchmark of the hospital by comparing the processes and the sharing of the best practices in clinical care.

The barriers that Dr. Provonost may face in implementing total quality include job apathy, poor existing quality measures, lack of accountability, and lack of good communication with employees.

The characteristics of quality customer service in the above hospital include:

A positive attitude.

Patience.

Empathy.

Delivering respect to patients.

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What is globalization?

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Answer:

the process by which businesses or other organizations develop international influence or start operating on an international scale:

Explanation:

So its basically when businesses copy each others method and or skills

It is the expansion of various businesses to the global markets throughout the world. It requires huge international investment to develop large multinational corporations for the worldwide economic integration.

If you want to determine how much money you need to invest in a fund that pays 5% annually to get $1,000 in two years, what value are you trying to determine?

A. Net present value

B. Time value of money

C. Total cost of investment

D. Return on investment

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Answer:total cost of investment

What is the term to describe colors that are equally spaced from each other in the color wheel?

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The term to describe colors that are equally spaced from each other in the color wheel is hue.

What is hue?

A hue can be regarded as the most simplistic as well as basic aspect of a color.

Therefore hue is describe colors that are equally spaced from each other in the color wheel and it separates red from orange colors.

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Decision Point: Deciding on Your Organizational Structure

Julia asks, "Could you give me an example of the organizational structure you have in mind?"

"Actually," you say, "I'd like you to work with me on determining the best organizational structure. You've been here since the beginning, and you manage everything in the office, so you're the best informed on what might work for us."

What causal variables should Julia be considering to recommend the mechanistic or organic structural design?

Corporate strategy
The leadership
Firm size
Privacy interests of employees
The business environment

Answers

The variables that have to be considered while thinking of the organic structural design would be

Corporate strategyFirm sizeThe business environment

What is referred to as organic structural design in business

This is the term that is used to refer to the work environment that has the horizontal method of communication.

In this organization, there would be communication between the various departments that are in it.

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Research and then discuss the two types of equity found on the balance sheet that contribute to total stockholder’s equity for the corporation. With respect to rewarding stockholder investment, which of these components of equity is most important? Explain why?

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The equity on the balance sheet that contribute to total stockholder’s equity for the corporation are:

stockholders' equityowner's equity

What is a total stockholder’s equity?

The total stockholders' equity means the total value of assets that remains in a business after all the total liabilities have been settled.

However, the stockholders' equity is the most important for rewarding stockholder investment because it is the basis at which a dividend for the stockholder will be calculated.

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Answer:

1. aggregate demand shifts right or aggregate supply shifts left

2. im not too sure about the second one but i would say A sorry about that

Explanation:

Describe the depth of intervention theory?

Answers

The depth of intervention theory: to become involved just as deeply as is necessary to provide lasting answers. This is further explained below.

What is the depth of intervention theory?

Generally, one should become involved just as deeply as is necessary to provide lasting answers to the issues at hand

In conclusion, Getting as deeply engaged as is required to find sustainable solutions; this is the idea behind "the depth of intervention hypothesis."

Answers

The firm with a 20% Debt and 80% Equity has the lowest degree of leverage.

What is a degree of leverage?

This means how much a firm operating income changes in response to a change in sales.

Because the Firm C has a low debt, this means its has the lowest degree of leverage when compared to others.

Therefore, the Option C is correct.

Missing options "90% Debt, 10% Equity

30% Debt, 70% Equity

20% Debt, 80% Equity

50% Debt, 50% Equity"

Answers

Jake is incorrect with his assertion that the BYOB should charge 2.25 per can.

What is Profit maximization and Loss minimization?

The process of Profit maximization ensures that favorable output and price are achieved to maximize its return while the process of Loss minimization ensures there is lower loss on return in the longer-run.

Price QD T*R(P*Q) Total cost(ATC*Q) Profit(TR-TC)

2 1000 2000 2750 -750

2.25 750 1687.5 2625 -937.5

Given that loss realized is lower in $2 per unit than $2.25 per unit, then, Jake is not correct with his assertion that the BYOB should charge 2.25 per can.

Note: The point has been placed on the graph to indicate the profit-maximizing price and quantity for BYOB.

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One thing that is not a correct description of margin of safety is that c. It may be expressed in terms of units or peso.

What is the margin of safety?

This is found by deducting break-even sales from budgeted sales which means that it shows the number of sales that a company can forego and still earn profits.

This means that if this figure is positive, the company would earn profit as they would have beaten their breakeven point. It can be shown in units or currency.

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Problem 6-11 (Algo) Money Laundry has 11 washers and 15 dryers. All orders are first sent to wash and then to dry. It takes on average, 30 minutes to wash one order and 30 minutes to dry. a. What is the capacity of the washing stage? (Round your answer to 2 decimal places.) b. What is the capacity of the drying stage? (Round your answer to 2 decimal places.) c. Identify the bottleneck(s). multiple choice 1 Washer Correct Dryer d. What is the capacity of Money laundry? (Round your answer to 2 decimal places.) e. If Money Laundry would like to increase the capacity by buying one more machine, should they buy a washer or a dryer? multiple choice 2 Washer Correct Dryer The manager, Mr. Money, decided not to buy a machine. He still has 11 washers and 15 dryers. The manager estimates that on average Money Laundry receives two orders every hour. The manager also finds that on average there are five orders in the washing stage and seven orders in the drying stage. f. What is the utilization of washers, on average? (Round your answer to 2 decimal places.) g. What is the utilization of dryers, on average? (Round your answer to 2 decimal places.) h. On average, how long does it take an order to finish the washing process, from the time the order is received? (Round your answer to 2 decimal places.) i. On average, how long does it take an order to finish the drying process, from the time the order finishes the washing process? (Round your answer to 2 decimal places.) j. On average, how long does an order stay in Money Laundry? (Round your answer to 2 decimal places.)

Answers

The answers about capacity utilization are given as follows:

A - 20 Units/Hour

B - 22.5 Units per hour

C - The Lowest capacity station that comprises the entire process

D - The capacity of the Money Laundry is 20 order/Hour

E - T increase the capacity of the washing stage, one machine must be purchased

F - Capacity Utilization is 40%

G - Utilization of dryers on average is 35.60%
H - The flow time is given as 37.50 minutes

I - Flow time for the washing process is 52.5 minutes

J - On average, it takes 90 minutes for an order stay in Money Laundry.

What is the capacity utilization?

Capacity Utilization or Efficiency refers to an organization's use of manufacturing and production capacity at any one time.

What is the explanation for the above answers?

A - Efficiency of the Washing Machine stage:

The formula for this is given as:

(No. of Washers * Time Available)/Processing Time

= (10 * 60)/30

= 20 Units /Hour

B - Capacity or Efficiency of Drying

= (15 * 60)/40

= 22.5 Units

C - What are the bottlenecks?

The bottlenecks is indicated in the unit with the lowest capacity. This is the Washing Stage. This is because it has the lowest capacity per hour.

D - What is the capacity of Money laundry?

The capacity of an organization is judged by the capacity of it's bottleneck. thus the capacity of Money Laundry is 20 orders/ Hour.

E - If Money Laundry would like to increase the capacity by buying one more machine, should they buy a washer or a dryer?

From the foregoing, it should increase capacity by buying additional washing machine. This will increase the capacity of the bottleneck. This is justified by the law of constraints which indicate that capacity can be increased when bottleneck is resolved.

F - What is the utilization of washers, on average?

The formula for this is given as:
Utilization (Washer) = Output/Capacity

= 8/20

= 0.40 or 40%

G - What is the utilization of dryers, on average?

Using the same formula in F,

= 8/22.5

= 35.56 or 35.6%

H - On average, how long does it take an order to finish the washing process, from the time the order is received?

The flow time is given as: Inventory/Throughput Rate

= 5/8

= 0.625/Hour

multiply that by 60

0.625 * 60

= 37.5 minutes

I - On average, how long does an order stay in Money Laundry?

Using the same formula in H above:

=7/8

= 0.875

Multiply that by 60 minutes

= 0.875 *60

= 52.5 mins.

Thus, every 52.5 mins, a washing cycle is completed.

J - On average, how long does an order stay in Money Laundry?

This is computed by adding the G + I

= 37.5 + 52.5

= 90 mins.

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Typically, life insurance policies are incontestable after a specific amount of time, usually one or two years. Following this time period, insurance companies cannot contest the validity of the policy, unless premiums were not paid. Does this encourage people to hide facts from insurance companies during the two year waiting period? if so, is this ethical?

Answers

Answer:

which sub again o please

The driving force behind Best Buy's Jill store initiative is to create positive

Answers

The driving force behind Best Buy's Jill store initiative is to create a positive return on investment. This is further explained below.

What is the return on investment.?

Generally, To gauge the likelihood of profiting from an investment, financiers often use the return on investment (ROI) indicator.

In conclusion, Best Buy's Jill shop effort is motivated by the need to generate a profit.

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Once level 3 of the national lockdown was announced, Nando’s was able to offer its customers safe, sanitised and almost contactless takeaway meals, with the introduction of their “Kerbside Collections” initiative. The implementation of level 3 lockdown was a variable in the _______________ macro-environment that affected businesses across South Africa. a. political-legal b. economic c. socio-cultural d. environmental

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The implementation of level 3 lockdown was a variable in the economic macro-environment that affected businesses across South Africa.

What is the Alert Level 3?

This referred to the phase of South-Africa restrictions in place during the State of Disaster that requires all South Africans to stay at their place of residence to prevent the spread of Cov-id-19.

Hence, the implementation of level 3 lockdown was a variable in the economic macro-environment that affected businesses across South Africa.

Therefore, the Option B is correct.

Answers

Answer:

Project vs process

Simply put, a process is a set procedure that involves a sequence of steps that need to be taken in order to produce a result, whereas a project is a temporary course of action that aims to deliver a distinctive product, service, or result.

Which of the following examples best illustrates the concept of scarcity?

A) None of these choices are correct.

B) A natural disaster destroys the tomato crop in the U.S. As a result, tomatoes and tomato-based products like
ketchup and spaghetti sauce

C) become more expensive.
A farmer switches his fields from a less drought-resistant crop to one that needs less water to grow.

D) Farmers who grow more crops than needed to met market demand may be unable to sell all their product in
the commodity markets.

Answers

Answer:

Explanation:

What could it indicate if your startup has no competition performing similar businesses?

Answers

It means the market is either brand new or it hasn’t been saturated it could also mean it’s not a good market to go into because there’s no demand

WSM Corporation is considering offering an air shuttle service between Sao Paulo and Rio de Janeiro. It plans to offer four flights every day (excluding certain holidays) for a total of 1,400 flights per year (= 350 days × 4 flights per day). WSM has hired a consultant to determine activity-based costs for this operation. The consultant’s report shows the following.

Activity Activity Measure (cost driver) Unit Cost(cost per unit of activity)
Flying and maintaining aircraft Number of flights $ 500 per flight
Serving passengers Number of passengers $ 5 per passenger
Advertising and marketing Number of promotions $ 40,000 per promotion

WSM estimates the following annual information. With 4 advertising promotions, it will be able to generate demand for 40 passengers per flight at a fare of $150. The lease of the 60-seat aircraft will cost $2,000,000. Other equipment costs will be $1,000,000. Administrative and other marketing costs will be $600,000.

Required:

a. What annual operating income can WSM expect from this new service?

b-1. WSM is considering selling tickets over the Internet to save on commissions and other costs. It is estimated that the cost driver rate for flights would decrease by $100 as a result of Internet sales. Administrative and other marketing costs would increase by $1 million. WSM estimates that the added convenience would generate a 5 percent increase in demand. All other costs and fares would remain the same. What annual operating income can WSM expect from adopting Internet ticket sales?

b-2. Would you recommend that WSM adopt Internet ticket sales?

c. Assume that WSM management decides not to adopt the Internet strategy, regardless of your answer to requirement (b). Instead, it is now considering a plan to sell tickets at two prices. An unrestricted ticket (good for travel at any time on any day) would sell for $ 175. A discount ticket, good for reservations made in advance, would sell for $130. Management estimates that it can sell 35,000 tickets (25 per flight) at the unrestricted airfare of $175. All other data remain the same.

Ignoring the information in requirement (b), how many discounted tickets would WSM have to sell annually to earn an operating income of $3,700,000? Assume that the annual number of flights remains at 1,400 and that the discounted tickets would be evenly divided across the 1,400 flights.

Answers

The annual operating income that WSM can expect from this new service is $1686000.

How to calculate the income?

Sales revenue = 40 × 1400 × $225 = $12600000

Less: Cost

Flight related = 1400 × $1600 = $2240000

Passengers related = 40 × 1400 × $4 = $224000

Advertisement = 20 × 60000 = $1200000

Operating income = $1686000

The annual operating income that WSM can expect from this new service is $1686000

b1. Sales revenue = 42 × 1400 × $225 = $13230000

Less: Cost

Flight related = 1400 × $1500 = $2100000

Passengers related = 42 × 1400 × $4 = $235200

Advertisement = 20 × 60000 = $1200000

Operating income = $9694800

b2. I'll not recommend the company to adopt internal slaves ticket because the operating income is less.

c. Let the number of discount tickets be x.

Operating income = 1,700,000

Total revenue = (35000 × 250) + (x × 150)

= 875000 + 150x

The total cost is 10690000 + 140000 + 4x

This will then be:

8750000 + 150x - 10690000 + 140000 + 4x = 1700000

x = 25890 tickets.

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Name and explain 16 ways in which businesses can contribute to employee development and well being

Answers

Some ways companies can contribute to employee development and well-being are:

Promote safety at workGet a fair payHave a benefit planOffer trainingSupport the local communityDevelop organizational cultureDevelop communicationIntroduce social programsIncrease autonomy at workIncluding employees in decision makingIntroduce environmental programsOffer extra compensation for achieved goalsCreate channels for dialogCreate career plansIncorporate wellness policiesPromote mental healthHow important are employees to a company?

A company's human capital is one of the most important resources for today's companies, as the business environment is highly competitive and companies need to differentiate themselves through creative and innovative ideas, which are developed in an organizational culture that values communication, training and capacity building.

Therefore, the development of policies and programs that promote the well-being of employees influences motivation, productivity and the development of essential skills for a company to be successful.

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It's ethics that makes law enforcement work, according to

Answers

It's ethics that makes law enforcement work, according to Code of Ethics.

What is Code of Ethics?

The Code of Ethics serves as the preface that help the mission as well as the commitment of law enforcement agencies so that they will be able to do their work on the public efficiently.

In this case, It's ethics that makes law enforcement work, according to Code of Ethics.

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Financial information is presented below: Operating expenses $ 61000 Sales returns and allowances 15000 Sales discounts 6000 Sales revenue 154000 Cost of goods sold 98000 The gross profit rate would be 0.36. 0.26. 0.27. 0.74.

Answers

Based on the sales and the cost of goods sold, the gross profit rate would be b. 0.26.

What is the gross profit rate?

First, find the gross profit:

= Sales - Sales discounts - Sales returns - cost of goods sold

= 154,000 - 6,000 - 15,000 - 98,000

= $35,000

Gross profit rate is:

= 35,000 / (154,000 - 6,000 - 15,000)

= 0.26

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