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Business, 06.05.2020 00:43 ExperimentsDIYS

Fred and Barney started a partnership. Fred invested $11,500 in the business and Barney invested $20,000. The partnership agreement stipulated that profits would be divided as follows: Each partner would receive a 16% return on invested capital with the remaining income being distributed equally between the two partners. Assuming that the partnership earned $27,000 during an accounting period, the amount of income assigned to the two partners would be:

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