Gary,Peter,and Chris and Have Capital Balances of $26,000,$38,000,and $30,000,respectively

question 106

Multiple Choice

Gary,Peter,and Chris and have capital balances of $26,000,$38,000,and $30,000,respectively.As per the partnership agreement,Gary gets a profit share of 2/9;Peter gets 4/9;and Chris gets 3/9.The partnership agrees to pay $20,000 as the final settlement to Gary.How much bonus does Peter receive as a result of this transaction?

• A)$3,429
• B)$2,571
• C)$3,333
• D)$2,667