LOCAL STANDARDS AND REGULATIONS
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Mrs. Carroll and Ms. Howard decide to divide all profits and share all losses using a fixed ratio. If the ratio agreed upon is in proportion to their original investment, what would be Ms. Howard's share of a $60,000 end-of-year profit? (Hint: The original total investment was $32,000—$8,000 from Ms. Howard and $24,000 from Mrs. Carroll. Ms. Howard's $8,000 is one-fourth, or 25 percent, of the total
1/4 of $60,000 = ?