Hi
I need help for one of my homework. Hope you can help me… I will appreciate.
Exercise 9: Use the Knaster Inheritance Procedure to find a fair division:
House: Andrew:120,000; Frank $125,000; Monica100,000; $Robert $90,000
Frank gets the house.
Farm: Andrew $80,000; Frank $60,000 ;Monica $70,000; Robert $75,000
Andrew gets the Farm.
Property: Andrew $40,000; Frank 30,000; Monica $25,000; Robert 45,000
Robert gets the Property.
Total $240,000(Andrew), $245,000 (Frank), 195,000 (Monica), $210,000 (Robert)
FairShare $60,000(Andrew), $53,750(Frank), $48,750(Monica) $52,500(Robert)
Andrew: will get a Farm value $80,000 with is his FairShare is only $60,000. Andrew has to pay $20,000
Frank get the house with he valued $125,000, but his fair share is $53,750 , he has to pay $71,250
Monica get nothing, waiting to get pay her fairshare $48,750
Robert gets the property value $45,000. Robert's fairshare is $52,500 so he doesn't need to pay nothing because the property is $45,000. However he has left over $7,500 (I am confused about Robert… should I share 7,500 left over for Robert to give Andrew, Frank and Monica some of the money? or Robert get $7,500 only and not share to the others?)
My result is this:
The executor is expecting $91,250(20,000 from Andrew and 71,250 from Frank) and uses this to bring Monica up to FairShare by sending her $48,750. There is a $42,500 left over to share ($10,625 each)
Result:
Andrew get the Farm and pays $9,375
Frank get the house and pays $60,625
Monica gets $ 59,375
Frank gets $18,125
Can you help me to figure out Robert?
Thank you.
I need help for one of my homework. Hope you can help me… I will appreciate.
Exercise 9: Use the Knaster Inheritance Procedure to find a fair division:
House: Andrew:120,000; Frank $125,000; Monica100,000; $Robert $90,000
Frank gets the house.
Farm: Andrew $80,000; Frank $60,000 ;Monica $70,000; Robert $75,000
Andrew gets the Farm.
Property: Andrew $40,000; Frank 30,000; Monica $25,000; Robert 45,000
Robert gets the Property.
Total $240,000(Andrew), $245,000 (Frank), 195,000 (Monica), $210,000 (Robert)
FairShare $60,000(Andrew), $53,750(Frank), $48,750(Monica) $52,500(Robert)
Andrew: will get a Farm value $80,000 with is his FairShare is only $60,000. Andrew has to pay $20,000
Frank get the house with he valued $125,000, but his fair share is $53,750 , he has to pay $71,250
Monica get nothing, waiting to get pay her fairshare $48,750
Robert gets the property value $45,000. Robert's fairshare is $52,500 so he doesn't need to pay nothing because the property is $45,000. However he has left over $7,500 (I am confused about Robert… should I share 7,500 left over for Robert to give Andrew, Frank and Monica some of the money? or Robert get $7,500 only and not share to the others?)
My result is this:
The executor is expecting $91,250(20,000 from Andrew and 71,250 from Frank) and uses this to bring Monica up to FairShare by sending her $48,750. There is a $42,500 left over to share ($10,625 each)
Result:
Andrew get the Farm and pays $9,375
Frank get the house and pays $60,625
Monica gets $ 59,375
Frank gets $18,125
Can you help me to figure out Robert?
Thank you.
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