ORIGINAL SETTLEMENT Problems 2 through 4 refer to the \"original settlement\" of the estate with heirs Al, Bev, and Cal. Below is a chait showing their original bids and the original settlement. Note that there is a total of $30,000 cash in this estate. Al Bev Cal Piano $1,800 $1,500 $1,650 Car 2,600 2,400 2,000 Boat 1,000 800 1,200 Cottage 12,000 13,000 10,000 Cash 30,000 30,000 30,000 Total of bids 47,400 47,700 44,850 Fair dollar share (1/3 of total of bids) 15,800 15,900 14,950 Obj ect(s) received Car, piano Cottage Boat Value of object(s) 4,400 13,000 1,200 Money you owe/are owed (Fair dollar share value of objects) 1 1,400 2,900 13,750 Share of surplus (US each) 650 650 650 Final Settlement (object(s) and/or cash) Car, piano and $12,050 Cottage and $3,550 Boat and $14,400 PROBLEM #3 (24 points) New scenario: Al and Bev each increase their lower bids so that there is only a $50 difference between them (see new chart below). Re-compute the final settlements by filling in the chart below. Round amounts to the nearest dollar if necessary. Al Bev Cal Piano $1,800 $1,750 $1,650 Car 2,600 2,550 2,000 Boat 1,000 50 1,200 Cottage 12,950 13,000 10,000 Cash 30,000 30,000 30,000 Total of bids Fair dollar share Object(s) received Value of object(s) Money you owe/are owed (fair dollar share - value of objects) Share of Surplus Final Settlement (object(s) and/or cash) Cash value of final settlement Don't forget to show your calculations for the surplus. Explain in a few complete sentences: How is the final settlement for each person affected? (Compare to original settlement.)PROBLEM #4 (24 points) New scenario: Another way to "cheat" the method is to see the bids of the other people. If Cal sees Al's and Bev's bids before he makes his own, then he can adjust his. Suppose that Cal leaves a $50 difference for each item (see new chart below). Re-compute the final settlements by filling in the chart below. Round amounts to the nearest dollar if necessary. Al Bev Cal Piano $1,800 $1,500 $1,750 Car 2,600 2,400 2,550 Boat 1,000 800 1,050 Cottage 12,000 13,000 12,950 Cash 30,000 30,000 30,000 Total of bids Fair dollar share Object(s) received Value of object(s) Money you owe/are owed Fair dollar share - value of objects) Share of surplus Final Settlement (object(s) and/or cash Don't forget to show your calculations for the surplus. Answer in a few complete sentences: How much will Cal gain by his dishonesty? (Compare to original settlement.)