The firm of Morris, Leibowitz, and Guliani is a relatively new law firm that specializes in major accident injury cases. The partners have been reviewing their cost accumulation accounting sys- tem and are not confident that they are billing enough to their clients. Essentially, their work consists of three partners analyzing the merits of each case, preparing a lawsuit, and appearing in court on behalf of their clients.
Each partner is assisted by a junior lawyer and has an administrative assistant. The only other people employed by the firm are a receptionist, an accountant/office manager, and two clerks. The expenses related to the firm's operation are as follows:

Other Costs
Salaries...............................$360,000
Rent....................................180,000
Office expenses......................120,000
Other..................................206,250
Each of the partners would like to earn $250,000 per year. They each expect to bill for 1,750 hours per year and to absorb the cost of their junior lawyers in their own billing.
Required:
How much will each lawyer have to set as his/her hourly billing rate to accomplish the objectives set out?

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Junior Lawyer Administrative Assistant Depreciation on Equipment Morris Leibowitz S75,000 S45,000 $15,000 80,000 60,000 21,250 Guliani