Problem
40% of an account is to be distributed to 5 people as follows: Person 1 gets 16.5%, Person 2 gets 16.0%, Person 3 gets 2.5%, Person 4 gets 2.5%, Person 5 gets 2.5%. However, Person 5 cannot accept his share so his 2.5% has to be divided between the first 4 people on a pro rata basis according to the percentages originally established. How do I calculate the new shares where the 2.5% for Person 5 is divided correctly among Person 1, 2, 3 and 4?
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.