Fred and Barney started a partnership. Fred invested $10,000 in the business and Barney invested $18,500. The partnership agreement stipulated that profits would be divided as follows: Each partner would receive a 14% return on invested capital with the remaining income being distributed equally between the two partners. Assuming that the partnership earned $24,000 during an accounting period, the amount of income assigned to the two partners would be: Fred BarneyA.$8605? $7415? B.$10,000? $14,000? C.$12,000? $12,000? D.$11,405? $12,595?
A. Choice A
B. Choice B
C. Choice C
D. Choice D
Answer: D
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