Farmer and Taylor formed a partnership with capital contributions of $200,000 and $250,000, respectively. Their partnership agreement calls for Farmer to receive a $70,000 per year salary. The remaining income or loss is to be divided equally. If the net income for the current year is $135,000, then Farmer and Taylor's respective shares are:
A. $106,140; $28,860.
B. $102,500; $32,500.
C. $130,000; $5,000.
D. $67,500; $67,500.
E. $90,000; $45,000.
Answer: B
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