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Find what the shares of the partners with profit are

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Reference no: EM132635534

Problem 1: Moreau invested $18,000 and Fereday invested $32,000 in a partnership. They agreed to share incomes and losses by allowing a $9,000 per year salary allowance to Moreau and a $12,000 per year salary allowance to Fereday, plus interest on the partners' investments at 8%, with the balance to be shared equally. Under this agreement, the shares of the partners with a $80,000 profit are

Multiple Choice

Option 1: $39,940 to Moreau; $40,560 to Fereday

Option 2: $18,000 to Moreau; $62,000 to Fereday

Option 3: $38,500 to Moreau; $41,500 to Fereday

Option 4: $40,000 to Moreau; $40,000 to Fereday

Option 5: $37,940 to Moreau; $42,060 to Fered

Reference no: EM132635534

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