Question

A private corporation owned by 27 shareholders is worth $4.5 million. The corporation loses a lawsuit worth $8 million. What is the value of any personal property of the shareholders that can be taken to pay the settlement?​

Answer 1

The value of any personal property of the shareholders that can be taken to pay the settlement is: $129,629.63.

Value of personal property

Using this formula

Value of personal property=Amount lose -Amount owned by shareholder/Number of shareholders

Let plug in the formula

Value of personal property=$8 million-$4.5 million/27 shareholders

Value of personal property=$3.5 million/27 shareholders

Value of personal property=$129,629.63

Therefore the value of any personal property of the shareholders that can be taken to pay the settlement is: $129,629.63.

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