The city of pine cove levied property taxes for the fiscal year ended june 30, 2017, in the amount of $9,600,000. during the year ended june 30, 2017, $8,350,000 in property taxes was collected. it is estimated that $375,000 will be collected during the next 60 days, $695,000 will be collected after 60 days, and $180,000 will not be collected. what is the maximum amount pine cove can recognize as property tax revenue for the fiscal year ended june 30, 2017, in its governmental funds statement of revenues, expenditures, and changes in fund balances, assuming there were no unpaid property taxes at the end of the previous year?
a) $9,000,000.
b) $8,865,000.
c) $8,500,000.
d) $8,100,000.

Recently, verizon wireless ran a pricing trial in order to estimate the elasticity of demand for its services. the manager selected three states that were representative of its entire service area and increased prices by 5 percent to customers in those areas. one week later, the number of customers enrolled in verizon's cellular plans declined 4 percent in those states, while enrollments in states where prices were not increased remained flat. the manager used this information to estimate the own-price elasticity of demand and, based on her findings, immediately increased prices in all market areas by 5 percent in an attempt to boost the company's 2016 annual revenues. one year later, the manager was perplexed because verizon's 2016 annual revenues were 10 percent lower than those in 2015"the price increase apparently led to a reduction in the company's revenues. did the manager make an error? yes - the one-week measures show demand is inelastic, so a price increase will decrease revenues. yes - the one-week measures show demand is elastic, so a price increase will reduce revenues. yes - cell phone elasticity is likely much larger in the long-run than the short-run. no - the cell phone market must have changed between 2011 and 2012 for this price increase to lower revenues.