Joe, Thea, and Taylor invested in a partnership in the ratio 1:4:7, respectively. Years later, when the

Question:

Joe, Thea, and Taylor invested in a in the ratio 1:4:7, respectively. Years later, when the was worth $1.6 mil- lion, Thea decides to go to graduate school and sells her part of the to Joe.
a. How much would Joe need to pay Thea to buy her share of the business? Round to the nearest dollar.
b. What percent of the business will Joe own after he buys Thea's portion? Round to the nearest tenth of a percent.
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...