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Raymon and Lela were married for 1 5 years and they have 2 children, Sheila age10 and Harry age 12. However, they got divorced. After
Raymon and Lela were married for 1 5 years and they have 2 children, Sheila age10 and Harry age 12. However, they got divorced. After 2 years of being divorced, Raymon got married to Shama. Even though the children are living with Lela, both Raymon and Lela have the same say when it comes to deciding on the children's welfare. Also, Raymon and Lela agree to contribute equally to the children's expenses like education, extracurricular activities, etc. Raymon pays child support of $500/ MTh and spousal support of $600/MTh.Lela is very much concerned about savings for the children's education. It is estimated that it would costs $1 2,000/ year for Sheila and $1 0,000/year for Harry when they are ready to attend university at age18. Raymon is 50 years old and is the sole owner of Small Engines Repair Inc. which is a qualified small business corporation. He bought the company from a friend for$1 50,000. He gets a salary of $95,000 a year from the business and taxed at an average rate of 35%. After owning the business for 8 years, his business increased in value to $900,000. The business is doing very well and Raymon expects the business
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