$23.$At the start of the current year, a city enters into an agreement with a privately$-$owned corporation. In exchange for an upfront payment of $$800$ million and a long$-$term receivable of $$100$ million, the city transfers a newly constructed toll road to the corporation. The road was reported on the books of the city at its construction cost of $$300$ million. The corporation receives the right to operate the road and collect tolls for a period of $30$ years. The toll rates are set forth in the agreement and adjust for inflation. Any changes in the rates other than those for inflation must be approved by the city. The expected useful life of the road is $50$ years. The receivable of $$100$ million is to be repaid over $30$ years in equal amounts with interest at $4$ percent. Thus, annual payments would be $$5\mathrm{.}78$ million.

What is the Total Revenue to be reported by the City at Year $1?$

Question $23$ options:

$$4$ Mill

$$30$ Mill

$$34$ Mill

$$900$ MillThe city issues $$200$ Million of bonds. The bonds are sold for $$201$million. The issue cost is $$\mathrm{.}5$ Million.

What are the Other financing sources be reported on a Governmental Fund at the date of issuance?

Question $24$ options:

$$200\mathrm{.}5$ Mill

$$200$ Mill

$$201$ Mill