Suppose an aunt has passed away and bequeathed to you and your siblings (one brother, one sister) a variety of assets. The original cost of these assets follows: Item Cost When purchased Jewelry $500 By Grandmother 75 years ago

House 1,200,000 10 years ago

Stocks and Bonds 1,000,000 3 years ago

Vintage (used) car 200,000 2 months ago

Furniture 15,000 Various dates during last 40 years

Because you are taking a course in Finance, your siblings put you in charge of dividing the assets fairly among the three of you. Before you start, your brother approaches you and says: Id really like the case for myself, so when you divide up the assets, just give me the car and deduct the $200,000 from my share. Hearing that, your sister says: That sounds fair, because I really like the Jewelry and you can assign that to me and deduct the $500 from my share. You have always loved your aunts house and its furnishings, so you would like to keep the house and the furniture.

i) How do you respond to your brother and sisters request? Justify your responses

ii) How would you go about determining appropriate values for each asset?