Question - A private university received $18,000,000 in tuition and fees during an academic year. Graduate assistantships, for which services were required, were awarded in the amount of $1,200,000. Scholarships, for which no services were required, were awarded in the amount of $1,400,000. The net tuition and fees that would be reported in the Statement of Activities would be:
A. $18,000,000
B. $16,800,000
C. $16,600,000
D. $15,400,000