Cox, North, and Lee form a partnership. Cox contributes $315,000, North contributes $262.500, and Lee contributes $472.500. Their partnership agreements for a 5% interest allowance on the partner's capital balances with the remaining Income or loss to be allocated equally. If the partnership reports income of $262.500 for its first year, what amount of income is credited to North's capital account? Multiple Choice $110125 $78.750 $87.500 $83125