50% of the resale value of equipment minus 50% of any business debt.
Is $70,000 total gross sales for the year?
That means your 50% is worth $35,000. The going rate (on this forum) seems to be 10% of gross receipts = $3,500
My leaving would mean his income would double next season.
He wouldn't need any help?
Did you guys discuss this possibility when you started up?