Case 5-2 TemplateINSTRUCTIONS: Read the case in the textbook. As a team, answer the questions in this spreadsheet, then save and submit the assignment as one Microsoft® Excel® attachment. Also, submit a 1-paragraph Microsoft® Word document explaining any issues or successes you had in answering these questions.Refer to and use the following abbreviations for the problems below:
• R = Royalty Payment
• CT = Artist Credit Total
• SV = Share Value
• CV = Credit Value
• RP = Retail Price
• PD= Packaging Deduction
• R%=Royalty Percentage of Suggested Retail Price minus packaging
1. Ziam wants to know how much his royalty will be for a song he has written. How will it be calculated? Write the steps or the formulas that will be used to calculate his royalty payment.
2. Ziam has written a popular song titled “Going There,” which has been recorded by a well-known performer. He recently received a royalty check for $7,000. If Ziam gets a 0.5 share of the royalties and the credit value is $3.50, what was the credit total that his song earned? Write out the problem in the form of an equation and solve it.
3. Ziam quickly published another song, “Take Me There,” that is played even more often than “Going There.” If his first song earns 4,000 credits and his second song earns 6,000 credits, what will the royalty payment be from the two songs if the credit value remains at $3.50?
4. Ziam is considering an offer to perform his own songs on a CD to be titled “Waiting There.” In the past, he has written but not performed his music. If Ziam’s royalty is 0.12 of the suggested retail price of $15.00, but 0.25 of the retail price is deducted for packaging before Ziam’s royalty is calculated, how much will he receive for sale of the CD? Write your answer in the form of an equation and solve it.