Use the last diminisher method to solve the following problem.1. A piece of property valued at $50,000 is divided among five players (P1, P2, P3, P4, P5)using the last diminisher method. The players play in a fixed order, with P1 first, P2second, and so on. In round 1, P1 makes the first cut and makes a claim on a C-piece ofthe land. For each of the remaining players, the value of the current C-piece at the time itis their turn is given in the following table:Player 2Player 3Player 4Player 5Value of$12,000$13,000$9,000$8,000current C-piecea.) What is the fair share for each player?Show your work in the space provided below.b.) What does player 2 do with the piece and why?c.) What does player 3 do with the piece and why?d.) What does player 4 do with the piece and why?e.) What does player 5 do with the piece and why?f.) Who gets the piece at the end of round 1 and why is it that person?g.) What is the value of the piece?

Given: The value of current C-piece at the time it is the turn of other players P2, P3, P4, P5 is:…

Answered: 1. A piece of property valued at…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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