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Upon formation of a partnership, Sally contributed 60% of the net assets, Mary contributed 40%, and Jenny contributed no assets. However, Jenny brings special expertise
Upon formation of a partnership, Sally contributed 60% of the net assets, Mary contributed 40%, and Jenny contributed no assets. However, Jenny brings special expertise to the partnership and is entitled to 10% of the partnership. Profits and losses are shared based upon capital balances. Under the agreement, Jennys capital share is:
0%
10%
50%
54%
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