Sam has just purchased an antique painting at an estate sale for $450. He believes he got a great deal on the painting, and that he can sell it for $1,000 next year after he does some restoration work. If he is able to sell the painting for this price a year from today, what would be his annualized return

In 2017, "a public university was awarded a federal reimbursement grant" of $18 million to carry out research. of this, $12 million was intended to cover direct costs and $6 million to cover overhead. in a particular year, the university incurred $4 million in allowable direct costs and received $3.4 million from the federal government. it expected to incur the remaining costs and collect the remaining balance in 2018. for 2017 it should recognize revenues from the grant of