Assume that Ole Olson is a patron of the Taft Farmers Cooperative. The cooperatives Board...
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Assume that Ole Olson is a patron of the Taft Farmers Cooperative. The cooperatives Board of Directors uses a Percentage of All Equities equity redemption plan. The Board of Directors has approved the allocation in Table 2. What percentage of all equity will be redeemed (Please round to six decimals; ex. 0.083416)? How much redeemed equity will Ole receive in 2021? (Please seeTable 2)
Table 2. Information for Percentage of All Equities redemption plan Row Item A Allocated equity at beginning of 2021 B Patronage allocation retained Equity available at end of 2021 (A+B) D Equity required E Equity redeemed (C-D) F Percentage of beginning year equity (E/A) Dollars $ 4,470,730 $ 2,682,438 $ 7,153,168 $ 6,300,000 $ 853,168 ??? % Ole Olson's beginning equity in 2021 $ 301,652 Table 2. Information for Percentage of All Equities redemption plan Row Item A Allocated equity at beginning of 2021 B Patronage allocation retained Equity available at end of 2021 (A+B) D Equity required E Equity redeemed (C-D) F Percentage of beginning year equity (E/A) Dollars $ 4,470,730 $ 2,682,438 $ 7,153,168 $ 6,300,000 $ 853,168 ??? % Ole Olson's beginning equity in 2021 $ 301,652
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