Jack and Daniel have capital account balances at the end of the year of $150,000 and $65,000 respectively. Profit of the partnership is $ 220,000. The profit and loss sharing agreement calls for (1) a salary of $65,000 to Jack and $35,000 to Daniel (2) interest of 7% p.a. on capital balances, (3) the residual profit to be split 70:30 in favour of Jack. Jack's share of the distribution is: Select one: a. $71,035 b. $150,000 c. $148,965 d. $220,000