Erin, Sarah, and Timmy Are Equal Partners in EST Partnership

question 677

Multiple Choice

Erin, Sarah, and Timmy are equal partners in EST Partnership. Sarah also owns 40% of Elton Corporation. The remaining shareholders of Elton Corporation are: Erin (24%) and Sarah's uncle (36%) . What percent ownership does Sarah directly or constructively own in Elton Corporation?

• A) 100%
• B) 76%
• C) 64%
• D) 40%

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