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How much should be allocated to E

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Problem 1: E and C have the following profit and loss agreement: salaries of P30,000 and P45,000 for E and C, respectively; a bonus to E of 10% of profit after salaries and bonus; interest of 10% on average capital balances of P20,000 and P35,000 for E and C, respectively; and any balance equally. If the profit is P102,500, how much should be allocated to E?

a. P58,250
b. P47,796
c. P44,250
d. P44,125

Reference no: EM132713290

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