Emmett and Sierra formed a partnership dividing income as follows: 1. Annual salary allowance to Emmett of $48,000 2. Interest of 8% on each partner's capital balance on January 1 3. Any remaining net income divided equally. Emmett and Sierra had $25,000 and $140,000, respectively, in their January 1 capital balances. Net income for the year was $200,000. How much net income should be distributed to Emmett?