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A partnership in which a parent transferred a 40% interest by gift to a child generated a profit of $130,000. Capital is a material income-producing

A partnership in which a parent transferred a 40% interest by gift to a child generated a profit of $130,000. Capital is a material income-producing factor. The parent performed services valued at $44,000. The child performed no services.

Under these circumstances, $_________is allocated to the parent as compensation for services and $_________for capital. The remaining $_______of income allocated to the child.

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