John has received a college scholarship and can choose whether to receive it as an immediate one-time payment of $10000 or as a series of four equal payments (at the end of each year), each totaling $3000. Assume that John has a discount rate of 10%. Only considering TVM principles, which option is most valuable to John?

A. There is not enough information to determine the answer.
B. Series of four payments of $3000 each.
C. Immediate payment of $10000.
D. Both scenarios are equal.

Alpine west, inc., operates a downhill ski area near lake tahoe, california. an all-day, adult ticket can be purchased for $55. adult customers also can purchase a season pass that entitles the pass holder to ski any day during the season, which typically runs from december 1 through april 30. the season pass is nontransferable, and the $450 price is nonrefundable. alpine expects its season pass holders to use their passes equally throughout the season. the company’s fiscal year ends on december 31. on november 6, 2009, jake lawson purchased a season ticket. required: 1. when should alpine west recognize revenue from the sale of its season passes? 2. prepare the appropriate journal entries that alpine would record on november 6 and december 31. 3. what will be included in the 2009 income statement and 2009 balance sheet related to the sale of the season pass to jake lawson?