Three investors purchase a commercial building in Fort Lauderdale as tenants in common. Alex contributes $300,000, Beth contributes $200,000, and Carlos contributes $100,000. If the property generates $60,000 in annual rental income, how much should Alex receive based on his ownership percentage?
Correct Answer
C) $30,000
Correct: Alex contributed $300,000 out of $600,000 total (50%), so he receives 50% of $60,000 = $30,000. Why not A: $20,000 would represent a 33.33% share. Why not B: $25,000 would represent approximately 41.67% share. Why not D: $35,000 would represent approximately 58.33% share.
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