Chapter 10.4, Problem 10E

Use the method of sealed bids to complete the tables in Exercises 3-14.

4. Dividing an inheritance. Karl and Friedrich have inherited their father’s copy of a rare book and want to decide who should receive it.

	Karl $\left(\frac{1}{2}\right)$	Friedrich $\left(\frac{1}{2}\right)$
Bid on book	$27, 000	$35, 000
Fair share of estate	a.	b.
Item obtained with highest bid	c.	d.

Dividing an inheritance. Consider your answer to Exercise 4. Complete the settlement of the estate by completing the fair division accounting of the estate cash as indicated in the table.

	Karl $\left(\frac{1}{2}\right)$	Friedrich $\left(\frac{1}{2}\right)$
Pays to estate $(+)$ or receives from estate $(-)$
Division of estate balance ($)
Summary of cash