Answer:
The answer would be B. President's Challenge
Explanation:
I believe I took something similar to this
Cervantes recently offered 60,000 new shares of stock for sale. The underwriters sold a total of 73,400 shares to the public at a price of $18.20 per share. The additional 13,400 shares were purchased in accordance with which one of the following?
a). Red herring provision
b). Post issue agreement
c). Green shoe provision
d). Qulet provision
e). Lockup agreement
If the underwriters sold a total of 73,400 shares to the public at a price of $18.20 per share. The additional 13,400 shares were purchased in accordance with : c). Green shoe provision.
What is Green shoe provision?A green shoe provision can be defined as the way in which an underwriter tend to sell more shares to investors than the shares that was budgeted.
This scenario best illustrate green shoe provision based on the fact that the plan shares was 60,000 in which the underwriters sold 73,400 shares given us additional shares of 13,400 shares ( 73,400 shares - 60,000 shares).
Therefore the correct option is C.
Learn more about green shoe provision here:https://brainly.com/question/28963925
#SPJ1
What is a club example?
Yacht clubs, country clubs, and golf clubs all are examples of private clubs. Club an organization of people with a common purpose or interest, who meet regularly and take part in shared activities:
An private club is a spot that isn't available to the general population. A confidential individuals club is an association that gives social and different conveniences to individuals who regularly pay a participation charge for access and use.
Private club are places that are not open to the general population. Before an individual can go along with, it should be supported by the remainder of the participation. At the point when somebody goes along with, they ordinarily need to pay a commencement expense and a month to month participation charge.
Clubs should be subsidized basically by duty, levy, and contribution, with a restricted measure of pay from non-part sources and capital increases.
Know more about Clubs - https://brainly.com/question/29546259
#SPJ4
How would the federal reserve stimulate the united states economy and reduce unemployment?
The Federal Reserve can stimulate the United States economy and reduce unemployment if it employs an expansionary monetary policy.
What is an expansionary monetary policy?Expansionary policy, often known as loose monetary policy, expands the availability of money and credit in order to stimulate economic development. During difficult economic circumstances, a central bank may use expansionary monetary policy to promote economic growth and stimulate growth.
During recessions, the Fed utilizes a variety of monetary policy measures to assist lower unemployment and re-inflate prices. Open market purchases, reserve management, discount financing, and forward guidance to control market expectations are among the methods available.
For example, if the Fed purchases bonds on the open market, it expands the economy's money supply by exchanging bonds for cash from the general public. If the Fed sells bonds, it reduces the money supply by withdrawing cash from the economy in return for bonds.
Learn mroe about expansionary monetary policy:
https://brainly.com/question/28038989
#SPJ1
preparing financial statements at the end of each monthly fiscal period is an application of the accounting concept t or f
True, all the elaboration of financial statements is an application of the accounting concept, the first financial statement that a company must make is the balance sheet.
This allows to have an idea of all the financial processes that took place during the financial year and thus to determine the faults.
What are financial statements?They are all those accounting reports that are made with the purpose of obtaining an image of the financial situation of the company, thanks to these documents the company analyzes the processes that are executed on a daily basis and makes decisions to make improvements.
Learn more about financial statements in: https://brainly.com/question/26240841
#SPJ4
true or false
To pay for social insurance programs administered by the Social Security Administration, employers, employees, and the unemployed must contribute.
To pay for social insurance programs administered by social security administration, employers, employees, and unemployed must contribute. - True
In the United States, social insurance programs like the Social Security and Medicare are funded through a combination of contributions from employers, employees, and the self-employed. These contributions are typically deducted from workers' paychecks and matched by their employers.
The funds received through these contributions are then used to pay for the various benefits provided by these programs, such as retirement, disability, and health insurance. Moreover, few people who are not currently employed, such as those who are unemployed or not working due to a disability, may also be required to contribute to these programs through taxes or other means.
Read more about social insurance programs on:
brainly.com/question/29740586
#SPJ4
Why do US citizens pay taxes?
The United States citizens pay taxes for helps to ensure the roads you travel on are safe and well-maintained.
The taxes are the compulsory contribution to state revenue, levied by the government on worker's income and business profits or added to the cost of some goods, services and transactions, higher taxes will dampen consumer spending.
The taxes are used by the government for carrying out various welfare schemes including employment. There are various of employees in various departments and the administrative cost has to be borne by the government.
To know more about taxes here,
https://brainly.com/question/16423331
#SPJ4
g which of the following properly identifies the section of the cash flow statement where each transaction or event would be reported. operating investing financing a. purchase of treasury stock purchase of common stock retirement of bonds b. loss on sale of equipment purchase of equipment payment of dividends c. purchase of equipment purchase of investments issue of common stock d. collection of accounts receivable sale of land sale of investments
Stockholders' equity is reduced when treasury stock is bought. Long-term obligations and stockholders' equity changes are displayed.
Asset treasury stock?A counter equity item is Treasury Stock. It is deducted from stockholders' equity rather than being recorded as an asset. There will be a discrepancy between both the share count distributed and or the value of shares because of the presence of share capital.
What makes it a "treasury stock"?Treasury stock, commonly referred to as financial assets or reacquired stock, denotes previously preferred stock that the issuing business has acquired from stockholders. As a result, this leadsThere are fewer shares in circulation overall on the open market.
to know more about treasury stock visit:
https://brainly.com/question/15852051
#SPJ4
Using the standard 28/36 guidelines, what is the maximum mortgage payment allowed for someone with an annual salary of $73,025? a. $2,190. 75 b. $2,044. 70 c. $1,703. 92 d. $1,217. 08 please select the best answer from the choices provided.
Using the standard 28/36 guidelines, the maximum mortgage payment is $1,703. 92 (option C)
Lenders utilize many criteria to decide whether or not to approve credit applications. One of the most important factors is a person's credit score. Before considering credit approval, they normally require that a credit score fall inside a particular range. However, a credit score is not the only factor to consider.
Another essential component is the 28/36 ratio, which determines a consumer's financial situation.
As part of their screening program, each lender determines their own parameters for housing debt and total debt. This means that household expenses, such as rent or mortgage payments, cannot exceed 28% of monthly or annual income. Likewise, total debt payments must not exceed 36% of income.
In the given problem, the annual salary is $73,025. Therefore,
monthly salary = $73,025 / 12 = $6,085.42
Maximum mortgage payment = 28% x $6,085.42 = $1,703. 92 (option C)
Learn more about mortgage here:
https://brainly.com/question/1112917
#SPJ4
A golf store pays its wholesaler $40 for a certain club, and then sells it to a golfer for $75. What is the markup rate?.
A golf store buys a certain club for $40 and sell it for $75. The markup rate is 87.5%
The markup rate, usually expressed in percentage, is the difference between what an item costs the vendor and what the buyer pays. The higher the markup, the more profit can be made.
The formula to calculate the markup rate is:
Markup percentage = (sales price - unit cost) / unit cost x 100%
In the given problem, a golf store pays its wholesaler $40 for a certain club, and then sells it to a golfer for $75.
Hence,
sales price = $75
unit cost = $40
Markup rate = (75 - 40) / 40 x 100%
Markup rate = 35 / 40 x 100% = 87.5%
Learn more about markup rate here:
https://brainly.com/question/1153322
#SPJ4
what is the risk-neutral valuation of a six-month european put option to sell a security for a price of 100 when the current price is 105, the interest rate is 10%, and the volatility of the security is .30?
We determined the put option's value from the available data to be 4.34. This model is crucial to derivative research since it aids in the pricing of European-style options, which are only executed at expiration.
The likelihood that the option will be taken even before agreement time expires is not taken into account by the model.
The Black Scholes Merton Model is used to calculate the price of the European put option;
In this case, p = put price and X = exercise price.
Risk-free rate, or rc.
Spot price = So
Nd1 and Nd2 normal probability distributions of d1 and d2 with time to expiry equal to T
Q = Given Volatile;
X= $100 \src= 10%
So= $105
six months T
Q= 0.3 Nd1=0.7157 \sNd2=0.6406
The put option is worth 4.34.
To know more about probability click here
brainly.com/question/11234923
#SPJ4
why do stores rarely advertise the full price of big purchases like smartphones?
They provide the impression that the product is inexpensive by merely giving you the monthly payment.
With psychological pricing, the theory is that consumers will perceive the slightly reduced price as being cheaper than it truly is. As an illustration of psychological pricing, consider a product that is priced at $3.99 but is seen by the consumer as costing $3 rather than $4. Depending on the industry and business model at hand, the four main pricing strategies—value-based, competition-based, cost-plus, and dynamic pricing—are all often employed. The goal of psychological pricing is to elicit an emotional response, such as excitement (cheap price), satisfaction (of a need or good value), or interest (ideal price).
Know more about the psychological pricing at: https://brainly.com/question/29735175
#SPJ4
what are the four factors that are used in the computation of depreciation and which of them are objective and which are based on judgment?
The following are the four primary criteria to take into account while determining depreciation expense: the asset's price, The estimated asset salvage value, the asset's estimated useful life. When estimating an asset's useful life, obsolescence should be taken into account because it will change how depreciation is calculated.
The term "depreciation" in accounting refers to two different aspects of the same concept: first, the actual decline in fair value of an asset, such as the annual decline in value of factory equipment due to use and wear, and second, the allocation in accounting statements of the asset's initial cost to the periods in which it is used. The process of "writing down" or reallocating the cost of a tangible asset over the length of its useful life is called depreciation. Additionally, it alludes to a decrease in asset worth. For accounting and tax purposes, organizations depreciate long-term investments. The asset's loss in value and the technique of depreciating it have an impact on the balance sheet of a corporation or other entity.
Learn more about depreciation from
brainly.com/question/1203926
#SPJ4
question 1 on the date of payment, a stock dividend would be recorded with a debit to what account? common stock stock dividends common stock dividends distributable no entry necessary
Entry is not required account would be debited in order to register a stock dividend.
A tracking stock is a special form of equity that a parent company offers and issues to track the financial performance of a divisional section. Tracking stocks typically trade independently from the parent company's shares on open markets. An illustration of stock tracking is: Go. A stock is a colloquial phrase for any company's ownership certificates. On the other hand, a share alludes to a certain company's stock certificate. You become a shareholder if you possess shares of a specific corporation. There are two categories of stocks: ordinary and preferred.
Learn more about stock from
brainly.com/question/26128641
#SPJ4
nan contributes property with an adjusted basis of $147,600 to a partnership. the property has a fair market value of $236,160 on the date of the contribution. what is the partnership's basis in the property contributed by nan? $fill in the blank 1
The partnership's basis in the property contributed by Nan is $60000.
Property definition describes it as anything over which a business or someone has lawful rights. They may have a few enforceable privileges over the items. Most of the properties incorporate present or destiny financial costs and that is why they may be taken into consideration as assets.
Property is any object that someone or a business has a prison name over. Assets can be tangible items, such as houses, motors, or appliances, or it is able to discuss with intangible objects that bring the promise of future worth, together with stock and bond certificates.
The essential motive of property rights, and their fundamental accomplishment, is that they take away damaging opposition for manipulating monetary resources. nicely-defined and well-included belongings right update competition by way of violence with opposition with the aid of nonviolent method.
Learn more about the property here:-https://brainly.com/question/15401586
#SPJ4
adding sustainability to the marketing mix can lead to loss of focus on the objective of economic profitability. adding sustainability to the marketing mix can lead to loss of focus on the objective of economic profitability. true false
True - Additionally, incorporating sustainability into the marketing mix may result in a shift away from the primary goal: economic viability as well as profitability.
Marketing activity that leads to outcomes that are not part of the core economic strategy may cause a business to lose focus and misallocate essential resources, which could hurt its profitability.
To ensure a better quality of life for present and future generations, sustainable marketing entails developing and promoting products and services that satisfy consumer and business user needs while responsibly utilizing society's natural, human, and cultural resources. The focal point of this section is to assist students with better comprehension what is implied by economical showcasing and how it varies from conventional advertising.
Sustainable marketing is more than just making an effort to make oneself appear more concerned about social issues or the environment and promoting this to customers. It has more meaning and substance. Sustainability as a key benefit is still in its infancy, and it is still unclear how strong it is in comparison to established benefits like better value, lower price, more convenience, and greater effectiveness. Green products that do not sacrifice any other benefits will often be purchased by many consumers. However, when the green benefit comes at the expense of a higher price or more conventional benefits, the majority of consumers will not purchase.
To know more about sustainability visit
brainly.com/question/13353436
#SPJ4
a three-unit building has a gross annual income of $54,000 and its total operating expenses are $18,930. what is its expense ratio?
A three-unit building's total operating costs come to $18,930, while its gross annual income is $54,000. Its cost-to-income ratio is 0.285.
Total fund costs are divided by total fund assets to determine the expense ratio = $18,930/$54,000 =0.285
The percentage of a stock or asset fund's assets used for management, advertising, administrative, and other costs is known as the expense ratio. An annual expenditure ratio of 1% indicates that 1% of the fund's total assets will be used to pay expenses each year. Brokerage commissions and sales loads are excluded from the expenditure ratio. When selecting a fund, expense ratios are crucial to take into account because they have a big impact on results. The fund's size, sales charges, and management style are all variables that affect the expense ratio. A domestic U.S. stock fund typically has an annual fee ratio of around 1%, while certain passively managed funds, like index funds, have much lower rates.
Learn more about expense ratio from
brainly.com/question/29739175
#SPJ4
your variable annuity has a mortality and expense risk charge at an annual rate of 2.5%. your average account value during the year is $20,000. what are your mortality and at risk charges for the year?
$500 are your mortality and at risk charges for the year.
Annual administrative fee = Fee rate x Account value
= 0.025 x $20,000
= $500
The value of a variable annuity might change depending on how well an underlying portfolio of subaccounts performs. The insurance business is guarded against unforeseen circumstances, such as the premature death of the policyholder, by the mortality and expense risk charge. The size of the mortality and expenditure risk charge is primarily determined by the applicant's age. The yearly percentage rate is roughly 1.25%.
Variable annuities are different from fixed annuities, which have a predetermined and guaranteed return. A variable annuity's value is determined by the performance of an underlying portfolio of subaccounts that the annuity owner has chosen. On the other hand, fixed annuities offer a return that is assured. Compared to fixed annuities, variable annuities have the potential for higher returns and larger income, but there is also a danger that the account's value would decrease. The principal, or the money you put into the annuity, and the returns that the underlying investments in your annuity produce on that principal over time are the two factors that go into determining the value of a variable annuity.
To know more about Variable annuity visit: https://brainly.com/question/14310110
#SPJ4
mary is considering hiring another worker in an assembly line for stereo speakers. mary knows the average product of labor is 15 speakers per day. she also believes that the next worker hired will produce an extra 12 speakers per day. a speaker sells for $10 each. mary should hire another worker:
Mary should hire another worker when Only the new worker's daily wage is $120 or less.
Assembly encompasses the stairs of constructing a completed product from additives or partly-compiled devices. meeting consequences in assemblies and/or sub-assemblies that can be equipped on the market and or implemented by a consumer.
Crew assembly refers to the process of making a crew of collaborators. medical elements, together with the question of what knowledge is wanted to address the medical goals, are vital to a team meeting. An assembly operation is a variant of the subsidiary. An overseas production plan might be installed simply to bring together components synthetic inside the home marketplace or elsewhere. The exporting organization may additionally attempt to keep key component manufacture in the domestic plant, permitting development, production talent and funding to be concentrated, while maintaining the benefit from economies of scale.
To learn more about assembling visit here:
brainly.com/question/29563444
#SPJ4
The value of the marginal product of any input is equal to themarginal product of that input multiplied by the:a.additional revenueb.marginal cost of the outputc.change in total profitd.market price of the output
The value of the marginal product of any input is equal to the marginal product of that input multiplied by the market price of the output.
Producing one more unit of production or selling one more unit of a good can both result in marginal revenue. Marginal Product is the term used to describe the shift in output brought on by more labor or production units. Value Marginal Product (VMP) is the result of multiplying the marginal product or output by the cost of the good.
Using the following formula, one may determine the value of a marginal product: Value of Marginal Product = Marginal Physical Product Average Revenue Price of the Product. The market price of the production is, therefore, the statement that makes the statement complete.
Hence the correct option is D
To know more about Marginal Product here
https://brainly.com/question/29819119
#SPJ4
Tahlia is interested in exporting. she is accompanying representatives of the u.s. department of commerce to london where she will meet with qualified agents, distributors, and customers to help her make contacts and explore export opportunities in london. tahlia is participating in?
Tahlia is interested in exporting distributors, and customers to help her make contacts and explore export opportunities in london. tahlia is participating in an import-export expo.
An export in the context of global trade is a product made in one nation and sold in another nation, or a service rendered in one nation to a national or resident of another nation. While the overseas customer is an importer, the seller of these items or the service provider is an exporter. Services such as financial, accounting, and other professional services, tourism, education, and intellectual property rights all play a role in international trade.
The term "export" comprises manufactured goods and services that are purchased by another country but are produced in another. Any form of service or product may be exported, and it may be exchanged by traditional shipping methods or electronic communication.
To know more about Export visit:
https://brainly.com/question/29819113
#SPJ4
true or false: based on the fact that both amrit and aideen increased production from the initial cartel quantity, you know that the output effect was larger than the price effect at that quantity.
The statement is True. based on the fact that both Amrit and Aideen increased production from the initial cartel quantity, you know that the output effect was larger than the price effect at that quantity.
Production is the manner of combining diverse inputs, each cloth (including metallic, wooden, glass, or plastics) and immaterial (including plans, or knowledge) so that it will create output. ideally, this output might be an excellent service that has a cost and contributes to the utility of individuals. The region of economics that specializes in production is called production theory, and it is carefully related to the consumption (or patron) idea of economics.
Monetary nicely-being is created in a manufacturing technique, which means all monetary activities that aim immediately or indirectly to fulfill human wants and needs. The degree to which the needs are glad is regularly typical as a degree of economic nicely-being. In production, there are two capabilities that give an explanation for growing monetary well-being. they are enhancing excellent-charge-ratio of products and offerings and increasing earnings from growing and more green market manufacturing or overall production which assist in growing GDP.
To learn more about Production visit here:
brainly.com/question/22852400
#SPJ4
Which tab on College Navigator will give you an estimate of your total costs with your possible financial aid applied?
Financial Aid
Total Cost
Price Estimator
Net Price
which term describes a country that has relatively high ratings for per capita income, gdp, and standard of living?
The GDP, productivity, level of life, and per capita income of a developed country are all comparatively high. The country's national statistical office often uses the international standard to compute GDP.
The market worth of all the final goods and services produced and sold (not resold) in a certain time period by countries is measured in dollars using the term "gross domestic product" (GDP). This measurement is frequently changed before it can be trusted as an indicator because of how complicated and subjective it is. To compare living standards between countries, using a basis of GDP per capita at purchasing power parity (PPP) may be more useful, whereas nominal GDP is more useful for comparing national economies on the global market. GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries. The contribution of each industry or sector to the overall GDP can also be quantified. The per capita GDP of a region is calculated as the GDP divided by the total population (also called the Mean Standard of Living).
Learn more about standardization here
https://brainly.com/question/1383956
#SPJ4
machinery was purchased on january 1 for $61,000. the machinery has an estimated life of 7 years and an estimated salvage value of $9,000. double-declining-balance depreciation for the second year would be (do not round your intermediate calculations.) a.$13,448.98 b.$11,448.98 c.$11,948.98 d.$12,448.98
The computation of the depreciation expense for the second year using the double-declining balance depreciation method is shown below:
Depreciation is an accounting technique for spreading out the expense of a tangible item over the course of its useful life. How much of an asset's value has been used is shown through depreciation. It enables businesses to purchase assets over a predetermined length of time and generate income from those assets.
First we have to determine the depreciation rate which is shown below: = One ÷ useful life = 1 ÷ 7 = 14.28% Now the rate is double So, 28.57% In year 1, the original cost is $61,000, so the depreciation is $17,428 after applying the 28.57% depreciation rate And, in year 2, the ($61,000 - $17,428 ) × 28.57% = $12,448
To learn more about depreciation refer here:
https://brainly.com/question/14682335
#SPJ4
if a consumer has an income of $100, the price of x is $2, and the price of y is $4, what is the maximum quantity of x the consumer is able to purchase?if a consumer has an income of $100, the price of x is $2, and the price of y is $4, what is the maximum quantity of x the consumer is able to purchase?
The maximum quantity of x the consumer is able to purchase is $4
In economics, the word "quantity demanded" refers to the overall amount of an item or service that consumers demand over a specific period of time. Regardless of whether a market is in equilibrium, it is dependent on the cost of an item or service.
The minimum and maximum quantities of a product that a customer may purchase, as well as the number of products that are added with each increment, are specified by a purchase quantity rule. Each simple product and product variation can have a single purchase quantity rule assigned to it. The lowest and maximum quantities in the rule have to be multiples of the increment.
To learn more about quantity refer here:
https://brainly.com/question/29671614
#SPJ4
what subject area should be on the checklist of criteria for evaluating middlemen servicing a market? question 18 options: 1) flexibility 2) sensitivity 3) cultural empathy 4) productivity 5) breadth of knowledge
4) Productivity is a subject area that should be on the checklist of criteria for evaluating middlemen servicing a market.
By comparing the quantity of goods and services produced (output) with the quantity of inputs required to generate those goods and services, productivity is a measure of economic performance.
Productivity is a measure of how effectively commodities or services are produced. Productivity measurements are frequently expressed as a ratio of total output to a single input or total input used in a manufacturing process, or output per unit of input, usually over a predetermined time period.
The most typical illustration is the (aggregate) measure of labor productivity, of which GDP per worker is an example. The selection of a productivity definition (including those that do not refer to ratios of output to input) depends on the goal of the productivity assessment and/or the availability of data.
To know more about product:
https://brainly.com/question/29423646
#SPJ4
Is economic growth positive or negative?
Economic growth is positive. Economic growth is positive and it mostly depend on the nature of economic growth.
Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year.
Positive economic growth means an increase in money supply, economic output and productivity. An economy with negative growth rates has declining wage growth and an overall contraction of the money supply. Economists view negative growth as a harbinger of a recession or depression.
To know more about Economic growth here,
https://brainly.com/question/11679822
#SPJ4
the world price of a pound of almonds is $4.50. before uruguay allowed trade in almonds, the price of a pound of almonds there was $3.00. once uruguay began allowing trade in almonds with other countries, uruguay began:______.
If the world price of a pound of almonds is $4.50. Before Uruguay allowed trade in almonds, the price of a pound of almonds in Uruguay was $3.00. Once Uruguay began allowing trade in almonds with other countries, Uruguay began : exporting
What is exporting?
Exporting can be defined as the way of sending goods produced or manufacture in your own country to another country.
Based on the scenario Uruguay tend to began exporting almonds and the price of this almonds per pound in Uruguay increased to the amount of $4.50 from $3.00.
Therefore we can conclude that Uruguay began exporting almonds.
Learn more about Exporting at:
https://brainly.com/question/14099857
#SPJ4
A process that exhibits random variability would be judged to be out of control. (True or False)
This claim is untrue. If a process displays random variability, it would not be considered out of control.
What sort of variance is the cause of an uncontrolled process?A particular cause variation is present when the control chart for a process measure shows a pattern of fluctuation that is not random or points that are drawn outside the control borders. A process measure is deemed unstable or out-of-control when a control chart shows unique cause variance.
What does the term "random variation" in quality control mean?Random variation: Unpredictable variations in a process's output caused by a variety of insignificant elements, including variations in temperature and humidity. Process variability resulting from a variety of erratic (and insignificant in isolation) fluctuations or change factors that, in reality, cannot be anticipated, detected, identified, or even eliminated.
Learn more about random variability: https://brainly.com/question/13832947
#SPJ4
your portfolio has a beta of 1.24. the portfolio consists of 6 percent u.s. treasury bills, 40 percent stock a, and 54 percent stock b. stock a has a risk level equivalent to that of the overall market. what is the beta of stock b?
Beta of Stock B = 1.56 Working: We know that, Beta of risk free assets is always zero.
A positive Beta demonstrates the asset moves in a similar heading as the market, while a negative Beta would show the inverse.
The Beta of a risk-free asset is zero on the grounds that the risk-free asset's covariance and the market are zero. By definition, the Beta of the market is one, and most created market stocks display high positive betas.
Beta is basically a multiplier
A worth of Beta over 1 shows a stock/asset/portfolio that has, by and large, intensified the arrival of the entire market (positive or negative).
A beta near zero would show a stock/asset/portfolio that gives a more steady return than the market overall.
A negative beta would connote a stock/asset/portfolio whose exhibition is counter-cyclical, i.e., balances the general market insight.
to know more about assets click here:
https://brainly.com/question/23082214
#SPJ4