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The partnership agreement calls for the distribution to be 75% to Preferred Equity and 25% to the Sponsor (without any preference) until the preferred partner reaches a required return of 8%, and then the sponsor receives any remaining funds. Assume the following distributions have been made earlier to the each of the equity partners and $350,000 is available to be distributed. 24. What is the expected return to the sponsor once the full 350,000 has been distributed? SOLUTION: Expected return to sponsor =76.1%