A partnership agreement specifies that each partner is to receive 20 percent interest on their weighted average capital balance for the year. Suppose a partner's capital account starts the year with a balance of $200,000. On April 1, $25,000 is withdrawn. On July 1, $40,000 is withdrawn. On September 1, $30,000 is invested.

How much partnership income for the year will be allocated to the partner for interest?\

*Please give a detailed step by step explanation on how to solve this problem*