Which of the following best describes mutual agency? Forming a partnership increases the base of management talent Each partner reports his/her share of partnership income on his/her personal tax return A partnership ceases to exist when a partner dies or a new partner is admitted to the partnership There is an increased benefit to combining each partner's resources together Partners can legally bind each other without prior approval The following are the balances in each partner's capital account: Partner A $ 40,000 Partner B $ 80,000 Partner C $ 60,000 The profit sharing split is 40:40:20 for A:B:C Partner A retires from the partnership and is paid $37,000 by the partnership.Required: Using the Bonus Method, how much of the retirement bonus wil be allocated to Partner B? (do not use dollar signs, decimals or commas; just input the numbers)