7. Peter, a 25% partner in Gold & Stein Partnership, received a $20,000 guaranteec payment in the current year for deductible services rendered to the partnership. Guaranteed payments were not made to any other partner. Gold & Stein's current-year partnership income consisted of: Net business income before guaranteed payments $80,000 Net long-term capital gains 10,000 What amount of income should Peter report from Gold & Stein Partnership on his current-year tax return? a. $37,500 b. $27,500 c. $22,500 d. $20,000