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The partnership agreement of Jones, King, and Lane provides for the annual allocation of the business's profit or loss in the following sequence: Jones, the

The partnership agreement of Jones, King, and Lane provides for the annual allocation of the business's profit or loss in the following sequence:
Jones, the managing partner, receives a bonus equal to 25 percent of the business's profit.
Each partner receives 14 percent interest on average capital investment.
Any residual profit or loss is divided equally.
The average capital investments for 2024 were as follows:
\table[[Jones,$155,000
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