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At the end of a hypothetical constructive liquidation, partner A would be obligated to pay $100,000. However, under the partnership agreement she is not obligated
- At the end of a hypothetical constructive liquidation, partner A would be obligated to pay $100,000. However, under the partnership agreement she is not obligated to pay it for ten years, and at a below-market interest rate. The present value of her payment obligation, assuming a constructive liquidation, is $45,000. How much of the partnership liabilities would she be allocated?
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Modern Auditing
Authors: William C. Boynton, Walter G. Kell, Raymond N. Johnson, Dr William Boynton
7th Edition
047118909X, 978-0471189091
