If a limited partnership is dissolved, the order in which the limited partnership's assets are distributed is as follows: O Payment to partners who have loaned the partnership money, payment to third-party creditors, payment to the partners according to their investments in the partnership, and payment to the partners on the basis of their shares of the profits. O Payment to partners who have loaned the partnership money, payment to the partners according to their investments in the partnership, payment to third-party creditors, and payment to the partners on the basis of their shares of the profits. O Payment to third-party creditors, payment to the partners according to their investments in the partnership, payment to partners who have loaned the partnership money, and payment to the partners on the basis of their shares of the profits. O Payment to third-party creditors, payment to partners who have loaned the partnership money, payment to the partners according to their investments in the partnership, and payment to the partners on the basis of their shares of the profits. Payment to the partners on the basis of their shares of the profits, payment to third-párty creditors, payment to partners who have loaned the partnership money, and payment to the partners according to their investments in the partnership.

63

3 Calculate the income taxes that a person has to pay considering the table below- If a person's income is $6,500, how much does he pay in taxes? If a person's income is $13,500, how much does she pay in taxes? (a) (b) Taxable Up to $5,000 $5,001-$10,000 $10,001-$15,000 Income Taxes 10% of taxable income 14% of taxable income 16% of taxable income

Price of X = $2 Income $24 = Price of Y=$4 Qx TUX MUX MUx/Px Qy TUY MUY MUy/Py 1 24 24 2 46 24 24 12 1 40 040 10 2 72 3 20 20 3 100 4 A 9 4 5 dings 5 100 16 5 16 4 6 114 6 144 es The correct value for the blank labeled A is