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How much will white receive

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Question - Wong and White are partners. They have agreed to share profits based on a formula where the first $100 000 is based on service and Wong is to receive $60 000 and White $40 000. The next $100 000 is based on capital contributed where Wong invested $350 000 and White $150 000. Any remaining profits are shared equally.

If profits before distributions were $650 000 how much will White receive?

$90 000

$75 000

$70 000

$295 000

Reference no: EM131623721

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