Emmett and Sierra formed a partnership dividing income as follows:

Annual salary allowance to Emmett of $41,500

Interest of 8% on each partner's capital balance on January 1 Any remaining net income divided equally.

Emmett and Sierra had $35,200 and $124,000, respectively in their January 1 capital balances.

Net income for the year was $238,100. How much net income should be distributed to Emmett?