Sally uses a June 30 fiscal year. She owns a 50% profit and loss interest in a calendar year partnership. For the 2008 calendar year, the partnerships taxable income (after guaranteed payments) was $40,000, and for the 2009 calendar year it was $50,000. During the 2008 calendar year, the partnership paid Sally a guaranteed payment of $100 per month. During the 2009 calendar year, it paid Sally a guaranteed payment of $200 per month. Sally must report the following total amount of income from the partnership for her June 30, 2009, tax year.

a. $26,800. b. $26,200. c. $21,800. d. $21,200. e. None of the above