On January 1, Year 3, a nongovernmental non profit nautical society received a gift of an exhaustible fixed asset with an estimated life of 10 years and no salvage value. The donor's cost of this asset was $20,000 and its fair value at the date of the gift was $30,000. What amount of depreciation of this asset should the society recognize in its Year 3 financial statements?

Suppose there are three types of consumers who attend concerts at your university’s performing arts center: students, staff, and faculty. each of these groups has a different willingness to pay for tickets; within each group, willingness to pay is identical. there is a fixed cost of $1,000 to put on a concert, but there are essentially no variable costs. for each concert: i. there are 140 students willing to pay $20. (ii) there are 200 staff members willing to pay $35. (iii) there are 100 faculty members willing to pay $50. a) if the performing arts center can charge only one price, what price should it charge? what are profits at this price? b) if the performing arts center can price discriminate and charge two prices, one for students and another for faculty/staff, what are its profits? c) if the performing arts center can perfectly price discriminate and charge students, staff, and faculty three separate prices, what are its profits?