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Farmer and Taylor formed a partnership with capital contributions of $ 3 0 0 , 0 0 0 and $ 3 5 0 , 0
Farmer and Taylor formed a partnership with capital contributions of $ and $ respectively. Their partnership agreement calls for Farmer to receive a $ per year salary allowance. The remaining income or loss is to be divided equally. If the net income for the current year is $ then Farmer and Taylor's respective shares of income are:
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