Please help!! Barbara is an economist researcher and commentator. The Eco Books Ltd offers her $13,000 for writing a book about economics principles. Barbara has never written a book about economics principles, but accepts the offer and writes the economics book called 'Principles of Economics'. She assigns the book's copyright for $13,400 to The Eco Books Ltd. The book is published and she is paid. She also sells the book's manuscript to the Eco Books Ltd's library for $4,350 plus several interview manuscripts she has collected while writing the economics book for which she receives $3,200. Discuss each of the above payments to Barbara separately and states if these are
Please help!! Barbara is an economist researcher and commentator. The Eco Books Ltd offers her $13,000 for writing a book about economics principles. Barbara has never written a book about economics principles, but accepts the offer and writes the economics book called 'Principles of Economics'. She assigns the book's copyright for $13,400 to The Eco Books Ltd. The book is published and she is paid. She also sells the book's manuscript to the Eco Books Ltd's library for $4,350 plus several interview manuscripts she has collected while writing the economics book for which she receives $3,200. Discuss each of the above payments to Barbara separately and states if these are
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Please help!! Barbara is an economist
researcher and commentator. The Eco Books
Ltd offers her $13,000 for writing a book
about economics principles. Barbara has
never written a book about economics
principles, but accepts the offer and writes
the economics book called 'Principles of
Economics'. She assigns the book's copyright
for $13,400 to The Eco Books Ltd. The book
is published and she is paid. She also sells
the book's manuscript to the Eco Books Ltd's
library for $4,350 plus several interview
manuscripts she has collected while writing
the economics book for which she receives
$3,200.
Discuss each of the above payments to
Barbara separately and states if these are
income from Barbara's personal exertion.
Would your answer differ if Barbara
wrote the Principles of Economics' book
before signing a contract with The Eco Books
Ltd in her spare time and only decided to sell
it later?
Support your answer by
referring to relevant statutory and case law.
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