What is the liability of each of the other two partners

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Lilly McDonald is one of three partners in a car dealership. The division of profits and losses as specified in the partnership agreement is 60 percent for Lilly, 25 percent for the second partner, and 15 percent for the third partner. The dealership has recently lost a lawsuit and must pay damages of $1,200,000. What is Lilly’s liability? What is the liability of each of the other two partners?

Reference no: EM131414854

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