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160 Farmer and Taylor formed a partnership with capital contributions of $245,000 and $295,000, respectively. Their partnership agreement calls for Farmer to receive a $79,000
160 Farmer and Taylor formed a partnership with capital contributions of $245,000 and $295,000, respectively. Their partnership agreement calls for Farmer to receive a $79,000 per year salary. The remaining income or loss is to be divided equally. If the net income for the current year is $189,000, then Farmer and Taylor's respective shares are: Skipped Multiple Choice o $134,000; $134,000. o $134,000; $55,000. o $126,000; $63,000. o $130,000; $5,000. o $94,500; $94,500
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