C is admitted to the A & B Partnership under the goodwill method. C contributes cash of $20,000 and non-cash assets with a market value of $50,000 in exchange for a 10% ownership interest in the new partnership. Prior to the admission of C, the capital of the existing partnership was $530,000 and an appraisal showed the partnership net assets were fairly stated. A & B shared profits and losses at a ratio of 2:8 respectively. Goodwill is traceable to the existing partners. Which of the following is true about goodwill allocation to original partners? Select one: 0 a. $70,000 to A O b. $20,000 to B c. $40,000 to A od. $80,000 to B