Drye township has received a donation of a rare painting worth $1,000,000. for drye's government-wide financial statements, three criteria must be met before drye can opt not to recognize the painting as an asset. which of the following is not one of the three criteria?
(1.) the painting is held for public exhibition, education, or research in furtherance of public service, rather than financial gain.
(2.) the painting is scheduled to be sold immediately at auction.
(3.) the painting is protected, kept unencumbered, cared for, and preserved.

a) item 1 is not one of the three criteria.
b) item 2 is not one of the three criteria.
c) item 3 is not one of the three criteria.
d) all three items are required criteria.
(e) none of the above

You are working on a bid to build two city parks a year for the next three years. this project requires the purchase of $249,000 of equipment that will be depreciated using straight-line depreciation to a zero book value over the three-year project life. ignore bonus depreciation. the equipment can be sold at the end of the project for $115,000. you will also need $18.000 in net working capital for the duration of the project. the fixed costs will be $37000 a year and the variable costs will be $148,000 per park. your required rate of return is 14 percent and your tax rate is 21 percent. what is the minimal amount you should bid per park? (round your answer to the nearest $100) (a) $214,300 (b) $214,100 (c) $212,500 (d) $208,200 (e) $208,400