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5 Pirates and Gold

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5 pirates on a ship have a treasure of 100 gold coins. They all have different ages.
One day, they decide to split the coins using the scheme described below:
The oldest pirate proposes how to share the coins, and all pirates remaining will vote for or against it.
If 50% or more of the pirates vote for it, then the coins will be shared that way. Otherwise, the pirate proposing the scheme will be murdered, and the process would be repeated with the pirates that remain.
Assuming that all 5 pirates are intelligent, rational, greedy, and do not wish to die, what will happen? How will the coins be split?

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