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Michael Murphy and Steve Elks each own separate printing businesses. They have decided to combine their businesses. They expect that within the coming year they

Michael Murphy and Steve Elks each own separate printing businesses. They have decided to combine their businesses. They expect that within the coming year they will need significant funds to expand their operations. Both of them expect their gross profit before income tax this coming year to be around $300,000.

Explain what form of business structure the business is likely to take.

Give reasons for your choice

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