CHOICES

A. 18,720

B. 26,100

C. 28,100

D. 41,600

15. Partners A and B have a profit and loss agreement with the following provisions: salaries of P41,600 and P38,400 for A and B, respectively; a bonus to A of 10% of net income after bonus; and interest of 10% on average capital balances of P20,000 and 35,000 for A and B, respectively. One-third of any remaining profits are allocated to A and the balance to B. If the partnership had a net income of 33,000, how much should be allocated to Partner A? *