Amy and Bobby allocate annual partnership income as follows. Each partner receives 10% of their beginning capital balances. Each partner also receives a $10,000 salary. Remainng income is distributed 70% to Amy and 30% to Bobby. If current year net income is $48,000 and beginning capital balance for Amy and Bobby are $120,000 and $60,000, respectively, how much net income is allocated to Amy?

$24,000

$32,000

$20,000

$28,000

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