DIP LLC (taxed as a partnership) reports gross income from operations of $140,000, rent and other operating expenses of $40,000, and interest income of $4,000 for the year, all before guaranteed payments. In addition, DIP made guaranteed payments only to partner Percy, totaling $20,000. If partner Percy owns a 40% capital and profits interest,how much income will he report for the year and what is its character? a. $24,000 operating income and $1,600 interest income. b. $24,000 operating income, $1,600 interest income, $20,000 guaranteed payment. c. $25,600 operating income. d. $32,000 operating income, 1,600 interest income. $32,000 operating income, $1,600 interest income, $20,000 guaranteed payment