Fred and Barney started a partnership. Fred invested $20,000 in the business and Barney invested $32,000. The partnership agreement stipulated that profits would be divided as follows: Each partner would receive a 15% return on invested capital with the remaining income being distributed equally between the two partners. Assuming that the partnership earned $38,000 during an accounting period, the amount of income assigned to the two partners would be: Fred BarneyA.$20,500 $17,500 B.$20,000 $18,000 C.$19,000 $19,000 D.$18,100 $19,900
A. Choice A
B. Choice B
C. Choice C
D. Choice D
Answer: D
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