1 Amit is a partner in Reynolds Partnership. This year, Amit's Schedule K-1 from Reynolds reflected $50,000 of ordinary income, $1,000 of interest income, and a cash distribution of $35,000. Amit's marginal tax rate is 37 percent. Amit qualifies for the Section 199A deduction, without regard to the wage limitation. a. Calculate the tax cost of Amit's partnership earnings this year. points Tax cost eBook b. Calculate Amit's after-tax cash flow from his partnership activity this year. After-tax cash flow