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The partnership agreement of J. Hansen and D. Hernandez reflects differences in service and capital contributions as follows: (1) annual salary allowances of $30,000 to

  1. The partnership agreement of J. Hansen and D. Hernandez reflects differences in service and capital contributions as follows: 
  2. (1) annual salary allowances of $30,000 to Hansen and $10,000 to Hernandez; 
  3. (2) annual interest allowances of 10% of a partner's beginning-year capital balance, and 
  4. (3) equal share of any remaining balance of profit or loss. Both partners had beginning-year capital balances of $50,000. In the first year, the partnership makes $30,000 in profit. 
How much profit would be allocated to Hansen?

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