Jonas is a successful investment banker who earns $400,000 per year. He marries Penny, a nurse at a county hospital. At the time of their marriage, Jonas owns real estate worth $1 million and securities worth $1.5 million, while Penny has no savings or property. After four years, Jonas and Penny opt for a divorce. Over the four years of their marriage, Jonas earns $400,000 in the first two years and $500,000 in the remaining two. Penny earns $25,000 in the first three years and $150,000 in the final year of their marriage. Their living expenses were $130,000 per year, and they have $1,450,000 of their earnings saved in a bank account. During the marriage, Jonas's real estate increases in value to $1.5 million, and his securities increase in value to $3 million. If they file for divorce in a state that recognizes community property, what amount would each receive from community property?
A) $1,300,000
B) $2,297,500
C) $725,000
D) $1,050,000
Correct Answer:
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