Jordan, Catherine, and Ashley invest $21,000, $12,000, and $17,000, respectively, to build a boat. After the boat was built, Jordan decided to sell his share of the investment to Catherine and Ashley. How much would Catherine and Ashley have to pay Jordan if they want to maintain the same ratio of their investments in the boat? a. How much would Catherine would have to pay? b. How much would Ashley have to pay?
Jordan, Catherine, and Ashley invest $21,000, $12,000, and $17,000, respectively, to build a boat. After the boat was built, Jordan decided to sell his share of the investment to Catherine and Ashley. How much would Catherine and Ashley have to pay Jordan if they want to maintain the same ratio of their investments in the boat? a. How much would Catherine would have to pay? b. How much would Ashley have to pay?
Chapter13: Property Transactions: Determination Of Gain Or Loss, Basis Considerations, And Nonta Xable Exchanges
Section: Chapter Questions
Problem 4DQ
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Question
Jordan, Catherine, and Ashley invest $21,000, $12,000, and $17,000, respectively, to build a boat. After the boat was built, Jordan decided to sell his share of the investment to Catherine and Ashley. How much would Catherine and Ashley have to pay Jordan if they want to maintain the same ratio of their investments in the boat?
a. How much would Catherine would have to pay?
b. How much would Ashley have to pay?
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