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Mr. Park owns a mining property in Prosperidad. He allowed a mining company to operate under a condition that he will be paid 10% royalty on the gold production. The mining company produced P8M worth of gold during the year. How much net royalties will be paid to Mr. Park? a.P800,000 b.P640,000 c.P160,000 d.P720,000

Mr. Park owns a mining property in Prosperidad. He allowed a mining company to operate under a condition that he will be paid 10% royalty on the gold production. The mining company produced P8M worth of gold during the year. How much net royalties will be paid to Mr. Park? a.P800,000 b.P640,000 c.P160,000 d.P720,000

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Mr. Park owns a mining property in Prosperidad. He allowed a mining
company to operate under a condition that he will be paid 10% royalty on the gold production. The mining company produced P8M worth of gold during the year. How much net royalties will be paid to Mr. Park?

a.P800,000  b.P640,000  c.P160,000  d.P720,000

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