The University of Michigan football stadium, built in 1927, is the largest college stadium in America, with a seating capacity of 107,500 fans. Assume the stadium sells out all six home games before the season begins, and the athletic department collects $64.5 million in ticket sales.
Required:
1. What is the average price per season ticket and average price per individual game ticket sold?
2. Record the advance collection of $64.5 million in ticket sales.
3. Record the revenue earned after the first home game is completed.
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