Question 13 3 points Save Answer An Islamic financial institution (IFI) invested in a two years project valued at USD 2,000,000 by providing 80% of the capital based on the Musharakah contract with Party A. The benchmark profit is agreed to be USD 400,000 per year. The profit/loss payments are agreed to be made at the end of every year. Following is the profit share formula: 1. If profit is less than USD 400000, then profit share will be IFI=60%, Party A=40% 2. If profit is more than or equal to USD 400000, then IFI will take first USD 250,000 and rest will be shared as IFI=50% of the rest, Party A= 50% of the rest. Suppose that at the end of the first year there is profit of USD 779,880. What will be profit share of IFI? MacBook Pro