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2 Farmer and Taylor formed a partnership with capital contributions of $275,000 and $325,000, respectively. Their partnership agreement calls for Farmer to receive a $85,000

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2 Farmer and Taylor formed a partnership with capital contributions of $275,000 and $325,000, respectively. Their partnership agreement calls for Farmer to receive a $85,000 per year salary allowance. The remaining Income or loss is to be divided equally. If the net income for the current year is $225,000, then Former and Taylor's respective shares of income are

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