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Molly and Tim jointly purchased a property for $1,000,000. The investment property generated net annual rental income of $20,000. Molly put in $300,000 and Tim
Molly and Tim jointly purchased a property for $1,000,000. The investment property generated net annual rental income of $20,000. Molly put in $300,000 and Tim put in $700,000.
Required: Determine the profit/loss allocated to Molly and Tim.
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