Sanders Fashion Company enters into a lease arrangement with Highpoint Leasing for 5 years. Sanders agrees to pay 4% of its net sales as a variable lease payment. Sanders does not pay any fixed payments. Sanders is a highly successful company that has achieved over $1,000,000 in net sales over the last 7 years. Both Sanders and Highpoint forecast that net sales will be a much greater amount than $1,000,000 in subsequent years. As a result, it is highly certain that Sanders will make payments of at least $40,000 ($1,000,000 × 4%) each year. What is the lease payment amount Sanders should use to record its right-of-use asset?

Jose recently died with a probate estate of $900,000. he was predeceased by his wife, guadalupe, and his daughter, lucy. he has two surviving children, pete and fred. jose was also survived by eight grandchildren, pete’s three children, naomi, daniel, nick; fred’s three children, heather, chris and steve; and lucy’s two children, david and rachel. jose’s will states the following “i leave everything to my three children. if any of my children shall predecease me then i leave their share to their heirs, per stirpes.” which of the following statements is correct? (a) under jose’s will rachel will receive $150,000. (b) under jose’s will chris will receive $150,000. (c) under jose’s will nick will receive $100,000. (d) under jose’s will pete will receive $200,000.