Recording the withdrawal of a partner. Petersen, one of your clients, has indicated that Jacobsen is interested in buying Petersen’s interest in the partnership. Relevant information:
Petersen has asked you a number of questions regarding selling his interest in the partnership. It is important to note that the partners vote on partnership matters in the same proportion as their profit and loss percentages.
Prepare a response to each of the following questions:
1. Given the above information, what is the suggested value of Petersen’s interest in the partnership?
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