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Miss Hawkins owns the mineral rights only in a property in Garvin County, Texas. She leases the property to Garth Petroleum, reserving a 1/5 royalty.

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Miss Hawkins owns the mineral rights only in a property in Garvin County, Texas. She leases the property to Garth Petroleum, reserving a 1/5 royalty. Garth Petroleum drills a successful well and begins producing oil. Revenue from the first year of operations totaled $30,000 and costs of development and operation totaled $175,000. 1. How much revenue will each party receive? 2. How much of the costs will each party pay

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