fractions…?
so far I have:
x=audit report
x- 3/5x= 2/5x <-- left after deductible 2/5x(2/5)= 4/25x remains @ this point: 2/5x-4/25x=6/25x <--left after tax i cant figure out what to do for this part: "After deductible expenses & income tax were paid, out of the remaining, one-sixth was used for additional research & development and three-tenths was set aside in a cash reserve."
Favorite Answer
additional research & development= 1/6 of 6/25x equals 1/25x
cash reserve is 3/10 of 6/25x
so assuming that 160000 is paid to each partner equally.
the equation goes like
6/25 x – 1/25 x – (3/10 * 6/25 x) = 160000*4
(3/10)(2x/5)=cash reserve
2x/5 – 4x/25 – x/15 – 3x/50 = 640000(4)
Ans. $22,588,235.29
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