The Museum of Contemporary Art (MOCA) is committed to the collection, presentation, and preservation of artwork produced after 1940. MOCA has been in operation for over 20 years and operates on a fiscal year that begins or July 1. The museum is open 5 days per week, 52 weeks per year, and expects to start FY 2018 with $125,000 cash on hand On July 1, MOCA will purchase a new building for $25,000,000 in order to increase space for exhibits and provide more programming to museum patrons. The museum expects the building to be in use for 50 years and to have no salvage value. To pay for the new building, MOCA will take out a loan on July 1 for the full cost of the building. The loan has an annual interest rate of 2.5%. Principal repayment on the loan must be made in 20 equal annual payments, due on the last day of each fiscal year. The first loan repayment will be due at the end of FY 2018. Interest on the loan must also be paid on the last day of each fiscal year. Additionally, the museum has purchased equipment in previous fiscal years that will depreciate by $60,000 during FY 2018 During FY 2018, MOCA will charge $10 per general admission ticket and $8 per discounted ticket for students and senior citizens. The museum estimates that 300,000 patrons in total will visit the museum during FY 2018, spread evenly throughout the year, and that 25% of these patrons will pay the discounted ticket price. Payment for a tickets is received immediately. MOCA estimates that its gift shop will earn $800,000 in FY 2018. $350,000 of the shop revenue is earned in the second quarter of the fiscal year, while the remaining amount is earned evenly throughout the rest of the fiscal year. Payment for all gift shop purchases is received immediately. Additionally MOCA earned a corporate grant for $500,000 at the beginning of FY 2018. The payment for thi on September 1. s grant was received