Floyd and Merriam Start a Partnership Business on June 12,2019 $$\begin{array} { | l | r | } \hline \text { Floyd } & \$ 55,000 \\\hline \text { Merriam } & 17,000 \\\hline\end{array}$$

Floyd and Merriam start a partnership business on June 12,2019.Their capital account balances as of December 31,2020 stood as follows: $$\begin{array} { | l | r | } \hline \text { Floyd } & \$ 55,000 \\\hline \text { Merriam } & 17,000 \\\hline\end{array}$$ They agreed to admit Ramelow into the business for a one-third interest in the new partnership.Ramelow contributes $24,000 cash in exchange for the partnership interest.Floyd and Merriam share profits and losses equally before the admission of Ramelow.What is the correct capital account balance of Ramelow after he enters the business? (Do not round intermediate calculations.Round the final answer to the nearest dollar.)

A) $24,000
B) $32,000
C) $28,000
D) $55,000