Hilary is a well-known mountain climber. The Daily Terror newspaper offers her $10,000 for her life story, if she will write it. Without the assistance of a ghost writer, she writes a story and assigns all her right, title and interest in the copyright for $10,000 to the Daily Terror. The story is published and she is paid. She has never written a story before. She also sells the manuscript to the Mitchell Library for $5,000 and several photographs that she took while mountain climbing for which she receives $2,000.

Question

Hilary is a well-known mountain climber. The Daily Terror newspaper offers her $10,000 for her life story, if she will write it. Without the assistance of a ghost writer, she writes a story and assigns all her right, title and interest in the copyright for $10,000 to the Daily Terror. The story is published and she is paid. She has never written a story before. She also sells the manuscript to the Mitchell Library for $5,000 and several photographs that she took while mountain climbing for which she receives $2,000.

Answer 1

I don't see a question.

Answer 2

Question

Discuss whether or not the three payments are income from personal exertion. Would your answer differ if she wrote the story for her own satisfaction and only decided to sell it later?

Answer 3

Hilary's total earnings from selling her life story, manuscript, and photographs can be calculated by adding up the amounts she received for each item.

First, let's calculate the total amount she received from the Daily Terror for her life story. She sold all her right, title, and interest in the copyright for $10,000. This means that she transferred all her ownership and control over the copyright to the Daily Terror in exchange for the payment. So, the amount she earned from the Daily Terror is $10,000.

Next, she sold the manuscript to the Mitchell Library for $5,000. This means that she transferred her ownership of the written document to the library in exchange for the payment. So, she earned an additional $5,000 from the Mitchell Library.

Finally, she sold several photographs that she took while mountain climbing and received $2,000 for them. The photographs are a separate item from her life story and the manuscript.

To calculate the total earnings, we add up the amounts she received for each item:

Total earnings = Amount from Daily Terror + Amount from Mitchell Library + Amount from selling photographs
= $10,000 + $5,000 + $2,000

Therefore, Hilary's total earnings from selling her life story, manuscript, and photographs amount to $17,000.

It's important to note that this explanation assumes there are no additional costs, fees, or taxes associated with the transactions.