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The partnership agreement of Maxwell, Norris, and Otterman provides for the annual allocation of the business's profit or loss in the following sequence:
The average capital investments for 2018 were as follows:
Maxwell $ 50,000 Norris $ 70,000 Otterman $100,000
problem 1: How much of the $80,000 partnership profit for 2019 should be assigned to each partner?
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