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Liquidating Partnerships

Prior to liquidating their partnership, MacPherson and Montgomery had capital accounts of $$19,000$ and $$29,000,$ respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $$54,000.$ The partnership had $$2,000$ of liabilities. MacPherson and Montgomery share income and losses equally.

Determine the amount received by MA$-$Pherson as a final distribution from liquidation of the partnership.