This Question Has Two Parts;be Sure to Answer Both

question 21

Essay

This question has two parts;be sure to answer both.First,list and describe the three parts of compensation.Second,consider this situation: Felix earns a $45,000 yearly salary as the store manager of a local McDonald's franchise.The owner of the franchise pays for medical and dental insurance for Felix and his family.In addition,Felix can earn a $1,000 bonus for each month the store exceeds $250,000 in revenue.Explain how Felix's compensation breaks down into the three different parts of compensation.

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Definitions:

Probability

An indicator of how probable an event is, represented as a numerical value ranging from 0 to 1.

Expected Present Value

Expected present value is a financial concept that calculates the current worth of a future sum of money or stream of cash flows given a specified rate of return.

Professional Contract

A legal agreement between a professional and an entity that outlines terms of employment or service provision.

Injury

Physical harm or damage to the body caused by external force, which may result from accidents, falls, hits, weapons, and other causes.