Fred and Ken are general partners in a business sharing profits and losses 60% and 40%, respectively. The partnership uses a calendar year. Ken files his individual return on the basis of the calendar year. The partnerships ordinary income for the year is $140,000 (after deducting partners' guaranteed payments). During the year, each partner received a guaranteed payment of $8,000 per month. Compute the amount of partnership income Ken should report on his personal income tax return. How much of this amount is subject to self-employment tax