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How much cash should bill landman receive

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Reference no: EM131918301

Question - The following interests exist for the Brown lease:

Mr. Brown -  1/8 RI

Bill Landman - 5% ORI (5% taken from WI which is a 4.375% net revenue interest)

Aggie Oil Company - 60 % WI

Cowboy Oil Company - 40% WI

If the lease produces revenue of $100,000 for the month, and the severance tax rate is 7%, how much cash should Bill Landman receive (to the nearest dollar)?

Reference no: EM131918301

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