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The net income of a business is $30,000. The beginning and ending capital balances were $34,000 and $55,000, respectively. No capital contributions were made by

The net income of a business is $30,000. The beginning and ending capital balances were $34,000 and $55,000, respectively. No capital contributions were made by the owner during the year.

Calculate the amount of owner's withdrawals.

Select one:

a. $9,000

b. $8,000

c. $18,000

d. $5,000

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