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Jing, Kang and Liang have interests in the JKL Partnership. Partnership income for the year is $300,000. The partnership agreement specifies that partnership income is to be allocated as follows: salaries of $80,000 to Jing, $50,000 to Kang, and $50,000 to Liang; a bonus of 20% of partnership income, after deducting salaries and bonus, to Kang, and the remainder allocated between the three partners in a 3:1:1 ratio.
-The total allocation to Liang is:
A) $70,000
B) $50,000
C) $74,000
D) $80,000
Correct Answer:
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