1. A distribution of his share of current-year profits on March 31, 2. A distribution of his share of 2016-2017 profits on March 31 of each subsequent year. The profit-sharing agreement for 2016 and 2017 would be modified from the 2015 agreement as follows: Component Salaries ..... Bonus on income after the bonus.. Percentage of remaining profits.. 2012 lime 000.2 Raymond $80,000 0% 20% Other Partners $350,000 10% 80% 3. On March 31, 2018, Raymond would receive a lump sum payment of $1,700,000 for his interest in capital. In order for Raymond to make an informed decision he has come to you seeking your advice on which alternative to accept. Raymond believes that they can invest all cash proceeds at a rate of 8% compounded annually. It is anticipated that the partnership will have income for years 2015-2017 of $550,000, $605,000, and $682,000, respectively. Prepare a schedule that compares the two alternatives and expresses the respective cash flows in terms of their present value as of March 31, 2016, assumin