Upon signing a lease agreement, Miss Olivia received a one-time payment of $3,000. One year later because
Question:
Upon signing a lease agreement, Miss Olivia received a one-time payment of $3,000. One year later because the oil company had not yet drilled a well, Miss Olivia received a payment of $200. During the next year, the oil company drilled a successful well and Miss Olivia began receiving monthly payments of approximately $50.
REQUIRED:
a. What is the $3,000 payment called?
b. What is the $200 payment called?
c. What are the $50 payments called?
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a The 3000 payment Miss Olivia received upon signing the lease agreement ...View the full answer
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