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Rupert joined Rob and Rich's partnership on 1 January 2019. Rob and Rich have been in partnership for many years, sharing profits equally and making

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Rupert joined Rob and Rich's partnership on 1 January 2019. Rob and Rich have been in partnership for many years, sharing profits equally and making up their accounts to 31 March Under the partnership agreement Rob is entitled to receive 4% "interest in recognition of his 100,000 investment in the partnership. He is then entitled to 40% of profits, with Rupert and Rich sharing remaining profits. The assessable profits for the year to 31 March 2020 are 24,000 and for the year to 31 March 2021 are 34,000. How much partnership profit will Rupert be assessed on in the fiscal year 2020/21? Select one: a. 10.200 b. 9,000 C 6,000 d. 7.200

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