Maxwell is trying to decide whether to accept a salary of P40,000 or salary of P25,000 plus a bonus of 10% of net income after salaries and bonus as a means of allocating profit among partners. Salaries traceable to the other partners are estimated to be P100,000. 

What amount of income would be necessary so that Maxwell would consider choices to be equal?

Answer rating: 100% (QA)

To determine the income necessary for Maxwell to consider the choices equal we need to set up an equ... View the full answer