Eln and Charytn are partners who share profits and losses equally. For the year ended December 31, 2020, the partnership had book income (Calculated using GAAP) of $80,000 which included the following deductions: guaranteed payments to partners: Eln $35,000, Charytn $25,000 and charitable contributions $5,000. What amount should be reported as ordinary business income on the partnership return for 2020?

Select one:

a.

$60,000

b.

$140,000

c.

$75,000

d.

$85,000

e.

$80,000