Question: Prepare a budget of expected minimum revenues under the contract. Show the sources of revenues from the set of five films and the fee.

$5,462,500

In March 2007, XM FIlms received a demand notice from Tri-Pictures that all monies previously paid were to be returned or they would file a lawsuit. In their letter, they enclosed a newspaper clipping from a movie theatre in Toronto, Canada that was advertising the set of five films for showing the second week of February 2007.