Two partners wesson and smith owned and operated a

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Two partners, Wesson and Smith, owned and operated a successful fast food business together for 15 years. In the past year, the two partners have had an increasing number of serious arguments about how to perform the business and about planned future expansion of the business. Both partners have agreed that they no longer will operate the business together. Either partner is willing to sell his share of the business to someone else and to get out of the fast food business altogether. An independent appraiser has valued the net value of the business at $1.5 million. Partner Smith owns 49% of the business, and Partner Wesson owns 51 % of the business. Evaluate the value of each partner's share of the business and what was the basis of your computation of the partners' share of the business?

Reference no: EM13351883

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